MOL And JERA Sign Long-Term Charter Contract

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Mitsui O.S.K. Lines, Ltd. (MOL) has announced a long-term charter contract with JERA Co., Inc. for a new LNG carrier. This seventh contract builds on their existing partnership, emphasizing MOL’s commitment to providing a stable LNG supply and enhancing environmental sustainability. The vessel, to be built at Samsung Heavy Industries, is slated for delivery in 2026 and will feature advanced fuel-efficient technology.

Vessel Specifications and Environmental Features

The new LNG carrier will be constructed at the Geoje Shipyard of Samsung Heavy Industries in South Korea. It boasts an LOA of 290 meters and a breadth of 45.8 meters, with a tank capacity of 174,000 cubic meters. The vessel will be powered by the cutting-edge MAN Energy Solutions ME-GA engine, which improves fuel consumption efficiency and reduces greenhouse gas emissions compared to traditional LNG carriers. These enhancements align with MOL’s “BLUE ACTION 2035” plan and its goal of achieving net-zero greenhouse gas emissions by 2050.

Partnership with JERA and Strategic Objectives

JERA, a leading energy company in Japan, has partnered with MOL to ensure a stable supply of LNG. Founded as a joint venture between Tokyo Electric Power Company and Chubu Electric Power Co., JERA integrates the entire energy supply chain, from fuel procurement to power generation and sales. This long-term charter contract strengthens JERA’s thermal power generation capabilities while advancing its decarbonization efforts. The collaboration aims to provide a clean energy supply platform that combines renewable energy and low-GHG thermal power.

MOL’s Vision and Future Goals

MOL aims to leverage its extensive experience in shipping and logistics to become a global social infrastructure company. MOL is transforming its business portfolio to include stable, profit-earning ventures by expanding its LNG fleet and securing long-term charter contracts. This initiative supports MOL’s broader environmental vision and commitment to decarbonization. Through innovative technologies and services centred on ocean transport, MOL seeks to ensure a prosperous future, deliver new value to stakeholders, and support daily life from the blue oceans.

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Source: MOL