Recently, MOL announced that it has voluntarily enrolled two of its vessels, the MOL Endowment and MOL Experience, in the Port Authority of New York and New Jersey Ocean Going Vessel Low Sulfur Fuel Program.
The carrier is among the first ocean carriers to enroll in the program, which provides incentives to operators of ocean vessels to utilize low-sulfur fuel in their main propulsion and auxiliary engines instead of bunker fuel known as Intermediate Fuel Oil 380.
The company acknowledged that switching to the more expensive fuel will increase its costs but said that it believed the program to be worth the investment.
"MOL saw the program as an opportunity to maintain our commitment as a responsible corporate citizen and to increase efforts in implementing our environmental policy," said Toshiya Konishi, chief operating officer, MOL Liner.
The Port Authority of NY & NJ Ocean-Going Vessel Low-Sulfur Fuel Program (OGV) is a special first come, first serve program that will provide financial incentives to encourage operators of ocean-going vessels calling at certain Port Authority marine terminals to utilize low-sulfur fuel in their main (propulsion) and auxiliary engines instead of the Intermediate Fuel Oil 380.
As an important component of the Clean Air Strategy for the Port of New York & New Jersey, the OGV low-sulfur fuel program aims to provide incentives to vessels operators to switch from highly polluting bunker fuel, according to the port website. This heavy fuel generates the majority of sulfur oxide emissions and makes these vessels the single largest source of air pollution, accounting for roughly half of the port-relation pollution. Switching to low-sulfur fuels reduces emissions of fine particles, including black carbon, as well as carbon dioxide, nitrogen oxides and nitrous oxide. Perhaps the most significant benefit from participation in this program is the contribution to improving public health, port officials say.
