Greenergy Ocean Leads Hudong’s LNG Revolution

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LNG Carrier Deal & Collaboration

In January 2022, Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) signed its largest LNG carrier shipbuilding order to date, valued at approximately 7.5 billion yuan or $1.18 billion, for six 174,000-cubic-meter LNG vessels.

The following month, Hudong hired France’s LNG containment specialist GTT for the tank design of the LNG vessels. By October 2022, TMC Compressors (TMC) was selected to provide the complete marine compressed air system for the ships.

Greenergy & Future Deliveries

While announcing a naming ceremony for the Greenergy Ocean LNG carrier, which is the first of these six 174,000 cbm ships, MOL explained the significance behind the name by describing ‘Greenergy’ as a coined word combining ‘green’ and ‘energy.’

The Japanese player further elaborates that the combination of the words conveys the desire to contribute to the realization of a low-carbon society through safe, reliable transport of LNG. Upon delivery from Hudong-Zhonghua at the end of May, the vessel will transport LNG procured by the CNOOC Group from all over the world, mainly to China.

This initial vessel is part of a long-term charter contract signed in January 2022 for six newbuilding LNG carriers. The remaining five vessels, jointly owned by MOL, CNOOC, and Cosco Shipping LNG Investment (Shanghai) Co., Ltd., are scheduled for delivery between 2024 and 2026.

MOL’s Recent Ventures

MOL has been a busy bee lately. The Japanese firm recently won a long-term time charter party (TCP) agreement for a floating storage and regasification unit (FSRU) with Poland’s Gaz System, which came shortly after the company put an FSRU in West Java, Indonesia, into operation.

After a previous decarbonization-linked loan bankrolled the construction of an LNG-powered dual-fuel very large crude carrier (VLCC), MOL got its hands on another energy
transition-related loan in April.

The company’s coal carrier equipped with the Wind Challenger hard sail wind propulsion system recently tucked a new milestone under its belt with daily fuel savings of up to 17% and 5 to 8% per voyage on average.

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Source: Offshore-Energy