MOL, Magni Partners order LNG-powered VLCCs

Japan’s shipping giant MOL and Tor Olav Troim’s firm Magni Partners have ordered LNG-powered very large crude carriers in China, according to brokers.

In August last year, MOL signed a shipbuilding contract with Japan’s Kawasaki Heavy Industries for two 309,000-dwt LNG-fueled VLCCs.

China’s Dalian Cosco KHI Ship Engineering (Dacks), jointly operated by KHI and Cosco Shipping, will build these 339.5 meters long and 60 meters wide VLCCs and deliver them in 2025 and 2026.

Lat month, MOL added two more LNG-powered VLCCs to this order, several shipbrokers said.

The deal is worth $260 million, or $130 million per vessel, and MOL is expected to take delivery of these ships in 2026.

As per the order by Magni Partners, the management consulting company ordered two 320,000-dwt LNG dual-fuel VLCCs at China’s New Times Shipbuilding, according to Allied.

This order also includes four options.

According to the broker, Magni Partners will pay about $138 million per vessel and take delivery of the ships in 2026 and 2027.

Troim’s Himalaya Shipping already has twelve 210,000-dwt Newcastlemax LNG dual-fuel bulk carriers on order at NTS.

The Chinese shipbuilder recently delivered the fifth LNG-powered bulker in this batch.

Most Popular

Abaxx sees significant volume growth in its LNG futures

Abaxx Commodity Futures Exchange, a wholly owned subsidiary of Abaxx Technologies (CBOE:ABXX) has seen significant volume growth in its physically deliverable LNG futures during the past summer months, according to Abaxx Exchange Chief Commercial Officer Joe Raia.

Another steam LNG carrier sold for demolition

An NYK-managed steam liquefied natural gas (LNG) carrier has been sold for demolition, according to brokers.

GTT develops new LNG fuel tank

French LNG containment giant GTT has developed a new cubic-shaped LNG fuel tank for commercial vessels, with a particular focus on LNG-fueled container vessels.

More News Like This

MOL gets OK for two LNG carrier designs with sails

Japan’s shipping giant MOL has secured approval from classification society Lloyd's Register (LR) for two liquefied natural gas (LNG) carrier designs equipped with four Wind Challenger sails.

Cosco Shipping Development, MOL seal sale and leaseback deal for LNG carrier

Cosco Shipping Development, a unit of Cosco Shipping, has entered into a sale and leaseback agreement with a unit of Japan's MOL for one 271,000-cbm LNG carrier.

MOL’s LNG carrier fleet stands at 104 vessels

MOL's large fleet of liquefied natural gas (LNG) tankers had 104 vessels as of the end of June this year.

MOL, Equinor name LNG-powered VLCC

Japan's shipping giant MOL has named an LNG dual-fuel very large crude carrier which will serve Norway's Equinor under a charter deal.