Toshiaki Hori, President & CEO of Mitsubishi Heavy Industries Marine Machinery & Equipment, in this message reveals how MHI-MME is further accelerating the study and development of new technologies and solutions with rapidly increasing customer interests and needs, such as CO2 emission reduction and future GHG zero emissions.

“Fiscal year 2023 has started. During the past three years, various trade shows and organization events were mostly cancelled due to Covid-19, but as the living with Covid environment has become more common, the number of various events are increasing. Along with the resuming of these activities, the economy is also showing signs of recovery.

In the United States and Europe, special preventive measures and entry restrictions against Covid-19 have been completely lifted, and it appears that economic activity has returned to its pre-Covid state.

However, the methods and means of economic activity have changed in form, and companies are experimenting to adapt to the after-Covid days. Last year, we heard a lot about ‘geopolitical risk’. It was a year that the world was disrupted by new uncertainties associated with geopolitical risks, such as supply issues and raising prices of energy and food, loss of business opportunities due to tighter export restrictions, triggered by Russia’s invasion of Ukraine.

The market environment surrounding the shipping and shipbuilding industry is recovering in terms of orders for new ship buildings, particularly container ships and LNG carriers. However, it does not appear to be on a quick recovery track due to the short-term impact of rising fuel prices and stricter environmental regulations (EEXI, CII compliance, etc.), as well as the assessment of future carbon-free fuels and the approach to bridge fuels in the meantime.

Therefore, it is anticipated that the market environment will level off for a while, and then gradually recover. MHI-MME is further accelerating the study and development of new technologies and solutions with rapidly increasing customer interests and needs, such as CO2 emission reduction and future GHG zero emissions.

As the movement toward carbon neutrality and zero emissions progresses to counter the threat of global climate change, we believe the biggest challenge is developing and applying new products and systems in response to the transition to new fuels.

We have already announced that we are a founding member of the Mærsk Center, a research organization that promotes the decarbonization of the maritime industry, and we are participating in various projects to obtain information on rules and regulations ahead of time and to gain insights on future directions.

The entire MHI Group is strengthening its efforts to develop and commercialize new technologies and solutions to achieve future zero GHG emissions as well as to demonstrate its function as a system integrator. We are also promoting group-wide activities to reduce CO2 emissions and achieve net-zero emissions across the entire value chain.

We will quickly share such cases with you as verification tests progress so we can contribute as quickly as possible to CO2 emission reductions and zero GHG emissions in the future. We hope that you will consider and adopt these cases in your businesses.”

Highlights

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