MOL and Tokyo Gas pen charter deal for newbuild LNG carrier

Japan’s shipping giant MOL has signed a new deal to charter one newbuild liquefied natural gas carrier to a unit of compatriot city gas supplier and LNG importer, Tokyo Gas.

MOL said in a statement on Tuesday it signed the long-term charter deal with Tokyo LNG Tanker.

This is the eighth contract, following a time charter contract for seven LNG carriers that were signed for TLT, it said.

According to MOL, the 174,000-cbm vessel will be built by South Korea’s Hanwha Ocean at its Geoje yard, and is scheduled for delivery in 2026.

It will be managed by MOL and will transport LNG for TLT.

Moreover, the LNG carrier will be 294.9 meters long and 46.4 meters wide.

It will feature MAN Energy Solutions ME-GA engine, which improves fuel consumption efficiency, MOL said.

MOL did not provide further information.

MOL’s huge fleet of LNG carriers continues to expand and the Japanese shipping giant currently has more than 30 LNG vessels on order.

The firm had 96 LNG carriers in its fleet as of December 31 last year.

MOL expects that it will have 97 LNG carriers in its fleet by the end of March this year.

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

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