MOL and Jera pen new charter deal for newbuild LNG carrier

MOL said in a statement on Wednesday it has signed the long-term charter deal with a vessel operation management company funded by Jera.

The firm did not provide the duration of the charter.

According to MOL, this is the eighth LNG carrier charter contract for the two firms and follows a deal announced in May last year.

MOL said that South Korea’s Samsung Heavy Industries will build the 174,000-cbm LNG carrier and deliver it in 2026.

The new vessel will be 290 meters long and 45.8 meters wide.

“MOL positions the expansion of its world’s largest LNG fleet and long-term charter contracts, including this project, as an accumulation of stable profit-earning businesses,” the company said.

MOL had 100 LNG vessels in its fleet at the end of September 30, 2024.

This is one more LNG carrier than in the previous quarter and three more LNG carriers than in the first quarter.

MOL expects to have 106 LNG carriers in its fleet by the end of March 2025.

This includes LNG carriers owned and/or operated by joint venture companies.

As of September 30, 2024, MOL’s fleet included seven FSUs/FSRUs, three LNG bunkering vessels, one LNG powership, and six ethane carriers.

Also, MOL previously said that it had more than 30 LNG carriers on order.

VesselsValue data shows that MOL has at least four LNG carriers on order at Samsung Heavy, which are scheduled for delivery in 2026 and 2027.