MOL Signs Long-Term Time Charter Agreement for Ammonia Transport Vessels with JERA

Mitsui O.S.K. Lines, Ltd. (President: Kota Tamaru, Head Office: Minato-ku, Tokyo; hereinafter “the Company”) has signed a long-term time charter agreement for two ammonia transport vessels (VLGCs) (Note 1) with JERA (hereinafter “JERA”). Under this agreement, the Company will transport low-carbon ammonia (Note 2) produced at the 'Blue Point' project in Louisiana, USA—invested in by JERA—to JERA’s Hekinan Thermal Power Station (Hekinan City, Aichi Prefecture) starting around 2029. By signing this agreement, the Company will advance the establishment of a maritime transport system for low-carbon ammonia, realizing Japan’s first large-scale low-carbon ammonia transport operation.

Since November 2022, the Company has been collaborating with JERA on joint initiatives for fuel ammonia transportation (Note 3). This agreement has been formally concluded based on the basic terms agreement reached in 2025 (Note 4), marking the commercial-scale realization of a low-carbon ammonia value chain.

Ammonia is expected to be widely utilized not only as a next-generation clean energy source for power generation and marine fuel—emitting no CO2 when combusted—but also in various fields such as a hydrogen carrier (Note 5). Significant demand is anticipated in the future.

The MOL Group has positioned environmental strategy as one of its core strategic pillars under its management plan 'BLUE ACTION 2035' and has set a goal of achieving net-zero emissions by 2050 in its 'MOL Group Environmental Vision – BLUE ACTION 2035 Phase 2'. The Company will continue to build a track record of high-quality and safe ammonia transportation, actively participate in constructing low-carbon ammonia value chains, and contribute to the realization of a decarbonized society.

[Overview of the Vessels]

(Note 1) Abbreviation for Very Large Gas Carrier (Note 2) Ammonia produced with significantly reduced CO2 emissions during the manufacturing process compared to conventional methods (Note 3) For details, please refer to the press release dated November 21, 2022: 'MOL and JERA to Collaborate on Fuel Ammonia Transportation | MOL' (Note 4) For details, please refer to the press release dated December 22, 2025: 'Basic Agreement on Time Charter of Ammonia Transport Vessels for JERA – Toward Establishing Japan’s First Large-Scale Low-Carbon Ammonia Value Chain | MOL' (Note 5) A medium designed to transport large quantities of hydrogen efficiently, which is being considered for utilization toward achieving a carbon-neutral society