MOL says it will consider both Chinese and Korean yards for new LNG carrier orders

“MOL would like to clarify that, taking the current geopolitical circumstance into account, the company will exercise prudent judgment in selecting shipyards for any new LNG carrier orders,” the company said on Monday.

MOL said there is only a limited number of shipyards in the world capable of building LNG carriers to provide a stable LNG transportation, and Chinese shipyards are “important partners to ensure diversification and flexibility in procurement sources.”

The firm noted that shipping companies have been ordering LNG carriers from Chinese shipyards, guided by their “own discretion and customers’ requirements.”

“However, many of the shipping companies are now closely monitoring the trends, including the U.S.’s “consideration of additional port fees for Chinese-built vessels and other influencing factors,” it said.

“MOL will continue to carefully assess the use of Chinese shipyards that meet its quality and safety standards, alongside South Korean shipyards, while taking a comprehensive view of future U.S. policy trends and geopolitical risks, to fulfill the global demand for LNG transportation,” the company said.

MOL’s LNG fleet

MOL’s large fleet of LNG tankers expanded to 107 vessels as of the end of March this year.

This is one more LNG carrier than in the previous quarter and ten more LNG carriers than in the first quarter of 2024.

MOL expects its LNG carrier fleet to expand to 108 vessels by March 2026.

The company’s fleet includes LNG carriers owned and/or operated by joint venture companies.

Also, MOL previously said it had about 30 LNG carriers on order.

As of March 31, 2025, MOL’s fleet included seven FSUs/FSRUs, three LNG bunkering vessels, one LNG powership, and six ethane carriers.