Japan’s MOL charters LNG carrier newbuild to Mitsui

Japan’s shipping giant MOL said on Friday it has signed a charter deal for one 174,000-cbm LNG carrier with compatriot trading house Mitsui & Co.

This is the fourth contract for the duo, following deals for three newbuild LNG carriers signed between September 2014 and January 2015, according to a statement by MOL.

Mitsui uses these three vessels to mainly ship LNG from the Cameron export plant and other terminals in the US.

MOL said in the statement it would provide ship management services for the new vessel, which would transport LNG for Mitsui’s projects around the world.

Also, the vessel would feature the MAN Energy Solutions engine, with improved fuel efficiency.

It also adopts more “environment-friendly specifications” than current LNG carriers, MOL said.

MOL added that it would take delivery of the vessel after 2024, but the firm did not provide any additional information.

South Korean shipbuilder DSME recently received an order for one large LNG carrier, boosting this year’s tally to three LNG vessels.

DSME said it would build the LNG carrier for about $208 million and deliver it to an unidentified owner in Oceania by the end of December 2024.

One shipbuilding source told LNG Prime that MOL could be the owner behind this order.

MOL has several LNG carriers on order at DSME, including four 174,000-cbm carriers that will go on charter to Russia’s Novatek.

Most Popular

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

Hanwha Engine completes first X-DF engine with VCR tech

South Korea's Hanwha Engine, a subsidiary of Hanwha, has completed what it claims is the world's first WinGD X-DF engine equipped with VCR (variable compression ratio) technology for LNG carriers.

CoolCo always looking at acquisitions, CFO says

LNG carrier owner CoolCo is always on the lookout for potential acquisitions, according to CFO John Boots.

More News Like This

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.

DNV approves LNG-powered LCO2 carrier

Classification society DNV has awarded a general approval for ship application certificate to Japan's MOL, Malaysia's MISC and Petronas CCS Ventures, and China's SDARI for their jointly-developed LNG-powered liquid carbon dioxide (LCO2) carrier design.