MI LNG Company, Limited, a joint venture company established by Mitsubishi Heavy Industries, Ltd. (MHI) and Imabari Shipbuilding Co., Ltd., will be renamed MILES Co., Ltd. on January 1, 2025.
“MILES” is an abbreviation for “Marine-design Initiative for Leading Edge Solution.”
Overview
For the details, please refer to the company website, to be updated in January 2025.
MI LNG Company was established in April 2013 as a joint venture between MHI and Imabari Shipbuilding for the design and sales of LNG (liquefied natural gas) carriers. In July 2023, the company entered into an agreement with Nihon Shipyard Co., Ltd. (NSY) to undertake design work for commercial ships other than LNG carriers, in addition to its existing operations related to LNG carriers, and started these operations as well.
Image of LCO2 carrier
Today, as initiatives toward decarbonization accelerate in the maritime industry, demand is growing for the construction of ships fueled by LNG, which is one of the low-carbon fuels. Further, demand for the vessels sailing on alternative fuels such as ammonia and methanol is also gaining momentum.
Relaunched under its new corporate name, MILES will also start design development of new liquefied CO2 carriers (LCO2carriers), the demand for which is expected to grow in the future, in addition to provide functional design for the commercial ships that use those alternative fuels.
NSY and Mitsubishi Shipbuilding Co., Ltd., a part of MHI Group, have already started joint development of new LCO2carriers, as means of large-scale international transportation of CO2. In August 2024, the two companies, together with Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., Nippon Yusen Kabushiki Kaisha, Imabari Shipbuilding, and Japan Marine United Corporation, also have started joint studies to establish standard specifications and designs for LCO2carriers.
Amid the start of these new initiatives, MI LNG will take the opportunity of changing its name to respond even more quickly and flexibly to a wide range of needs in the shipping and shipbuilding industries, and through providing optimal services, to contribute to sustainable growth and development of society and industry.
Source: MHI Group