MOL Acquires Itochu’s Stake In LNG Rose Shipping

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Japan’s shipping giant MOL has announced its decision to purchase Itochu’s 50 percent stake in LNG Rose Shipping, making it a wholly-owned subsidiary of MOL. The transaction, valued at $32 million, was disclosed on June 28. Established in December 2014 as a joint venture, LNG Rose Shipping specializes in owning and chartering LNG carriers.

Expansion of MOL’s LNG Carrier Fleet

MOL’s acquisition of the remaining stake in LNG Rose Shipping aligns with its strategic plan to strengthen its LNG carrier business. The company anticipates increasing its fleet of LNG carriers to 104 vessels by March 31, 2025, up from 97 in the first quarter of 2024. The current fleet includes various specialized vessels, reflecting MOL’s commitment to expanding its LNG transportation capabilities.

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Source: LNGPrime