04
Jun 26

Member Insights | Q&A with Mitsui O.S.K. Lines (MOL)

How does a global shipping company move from climate ambition to real-world delivery? And what will it take to achieve net zero at scale while keeping global trade moving?

In this Q&A, Tatsuro Watanabe, Mitsui O.S.K. Lines, Ltd. (MOL) Managing Executive Officer and Chairman & Managing Director for MOL (Europe Africa) Ltd., discusses MOL’s refreshed Environmental Vision — what has changed, how it is being implemented across Europe and Africa, and the role collaboration will play in turning ambition into action.

Q1. MOL recently refreshed its Environmental Vision, building on work first set out several years ago. What has changed, and why was now the right time to set out a revised direction?

Our renewed Environmental Vision aligns with the transition of our Group Medium-Term Management Plan, Blue Action 2035, into a new phase. While the timing was not necessarily straightforward given current market and regulatory uncertainties, we deliberately chose to reaffirm our unchanged commitment to achieving net zero by 2050.

At the same time, the updated Vision reflects a clear shift from ambition-setting to implementation and scalability. Since our initial strategy, the regulatory landscape has evolved significantly, alongside growing customer expectations and changes in financing frameworks. Phase 2 therefore focuses on delivering measurable outcomes, bringing together decarbonisation, ocean stewardship, and business growth into a more operational and integrated approach.

Q2. As Managing Executive Officer and Chairman & Managing Director for Europe and Africa, how does your role fit into translating that Environmental Vision into action across the region?

In Europe and Africa, our role is to translate MOL Group ambition into regional delivery. This means aligning with fast-moving EU and UK regulation, engaging with policymakers and industry, and identifying commercially viable pathways for decarbonisation. We also act as a bridge with our headquarters—ensuring that insights from this region inform MOL’s global strategy, while supporting our business units in navigating both risks and opportunities locally.

Q3. The Environmental Vision speaks to achieving net‑zero emissions by 2050 while contributing to a sustainable ocean and global environment. How does MOL balance its responsibility to protect oceans and climate with its role as a global provider of shipping and logistics services?

Shipping is essential to global trade, hence economic development, but that responsibility comes with a duty to operate sustainably. At MOL, our approach is to decarbonise while maintaining reliability and efficiency. This includes looking into alternative fuels, improving operational efficiency, and strengthening environmental management at sea. Protecting oceans and climate is not separate from our business—it is fundamental as it’s our business environment that allows us to do what we do. 

Q4. MOL’s Vision recognises that stable oceans and climate underpin long‑term value creation—not only for shipping, but for society more widely. How does MOL see environmental action supporting resilience and growth across the Group?

Environmental action strengthens resilience by reducing exposure to regulatory, fuel, and transition risks. It also creates growth opportunities—through access to green financing, new customer demand, and participation in emerging value chains such as low-carbon fuels and low-carbon intensive logistics. In that sense, sustainability is not a constraint; it is a driver of long-term competitiveness and value creation.

Q5. Decarbonisation will require a combination of low  and zero carbon fuels, efficiency improvements and new technologies. How does MOL approach this transition in a way that remains practical, scalable and aligned with customer needs?

We take a portfolio approach—combining energy efficiency, digital optimisation, and a gradual transition to alternative fuels such as LNG, methanol, ammonia, and future options. Importantly, we align this with fuel availability, infrastructure readiness, and customer demand. Decarbonisation must be practical and scalable, which means working closely with customers and partners to ensure solutions are both technically feasible and commercially viable.

Q6. What do you see as the most significant challenges in delivering decarbonisation at scale across a global fleet—whether regulatory, technological or commercial?

The main challenge is not ambition, which there is loads out there, but alignment across the value chain. We still face limited availability of scalable zero-emission fuels, high-cost differentials, and fragmented regulatory approaches, both regionally and globally. Without stable demand signals and coordinated policy frameworks, investment decisions remain difficult. Bridging this gap between ambition and implementation is the key challenge for our industry.

Q7. From your perspective in Europe and Africa, what role can collaboration—with governments, industry and organisations like the UK Chamber of Shipping—play in turning decarbonisation ambition into delivery?

Collaboration is essential to move from ambition to delivery, and to learn about industry good practices. In Europe, while regulation provides direction, it is through close dialogue between industry, governments, and organisations such as the UK Chamber of Shipping that we ensure measures are practical and globally aligned. The Chamber plays a particularly valuable role in supporting companies with policy insight, representing industry views, and advancing research and analysis that helps bridge the gap between regulation and real-world implementation.

Q8. Finally, as MOL works towards 2050, what gives you confidence that shipping can deliver meaningful decarbonisation while continuing to support global trade and economic development?

I am confident because we are already seeing progress—through efficiency gains, fleet renewal, and early adoption of alternative fuels. More importantly, there is now an increased shared direction across industry, regulators, and customers. While challenges remain, the trajectory is clear. Shipping has a long history of adapting to global change, and with the right level of collaboration and investment, we will be able to deliver meaningful decarbonisation while continuing to enable global trade.

For more information about MOL and their refreshed Environmental Vision, visit their website.