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Japan’s MOL charters LNG carrier newbuild to Mitsui

By LNG Prime Staff
Japan's MOL charters LNG carrier newbuild to Mitsui
LNG carrier Marvel Pelican, owned by MOL and chartered by Mitsui & Co (Image: KHI)

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.

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