MOL & Mitsui Seal Charter for Another LNG Carrier Newbuild


Japanese shipowner Mitsui OSK Lines (MOL) has sealed a time charter contract with compatriot trading house Mitsui & Co for a newbuilding 174,000 cu m LNG carrier, reads an official press release.

The contract follows deals for three newbuilding LNG carriers for Mitsui & Co charters signed between September 2014 and January 2015 with a pair built by Kawasaki Heavy Industries (KHI) and one by Mitsubishi Shipbuilding.

MOL will provide ship management services for the vessel

No further details have been revealed for the vessel, which is expected to deliver in 2024. Last week, South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) revealed an order for one unit worth around $208m, with multiple broking reports linking MOL to the 174,000 cu m newbuild. MOL’s LNG carrier orderbook at DSME currently stands at 10 ships, according to VesselsValue.

MOL will provide ship management services for the vessel, which will be used to ship LNG mainly for Mitsui & Co projects around the world. The owner said the vessel will feature MAN Energy Solutions engine with improved fuel efficiency and adopt more environmentally friendly specifications than current LNG carriers.

MOL has 17 LNG carriers on order. The most recent one for six ships was placed at CSSC-affiliated Hudong-Zhonghua Shipbuilding worth around $1.18bn.

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Source: MOL