MOL Signs 25-Year Vale Contract for Tri-Fuel Ore Carriers

· Shipping · Japan · Brazil

Mitsui O.S.K. Lines said its MOL Ocean Bulk unit signed a 25-year contract with Vale International to transport iron ore using two vessels. The project is part of Vale's shipping decarbonization strategy and is described as the world's first tri-fuel ore carrier project.

Why it matters：Long-term charters tied to alternative-fuel vessels show how miners and owners are locking in decarbonization capacity, a template that could spread across dry bulk trades.

Key points

  • The 25-year contract covers iron ore transport with two vessels.
  • MOL Ocean Bulk operates the MOL Group's overseas Capesize bulker business.
  • The project is billed as the world's first tri-fuel ore carrier project.

Sources (original reporting)

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