- MOL Energia signed a long-term charter contract for three 100,000 m³ VLECs with SCG Chemicals PLC, enhancing SCGC’s ethane imports for petrochemical operations in Vietnam.
- The VLECs, equipped with dual-fuel ethane engines, will reduce greenhouse gas emissions and are scheduled for delivery in 2027 by Samsung Heavy Industries.
- MOL aims to expand its VLEC fleet while contributing to regional economies and achieving long-term profits under its “BLUE ACTION 2035” plan.
Mitsui O.S.K. Lines, Ltd. (MOL) has announced that its subsidiary, MOL Energia Pte. Ltd., signed a long-term charter contract for three new building Very Large Ethane Carriers (VLECs) with SCG Chemicals PLC (SCGC), a subsidiary of Siam Cement Group Co. (SCG).
Details of the Contract and Vessels
The 100,000 m³ VLECs will be constructed by Samsung Heavy Industries in South Korea and delivered in 2027.
They feature dual-fuel ethane propulsion engines, which significantly reduce greenhouse gas emissions compared to traditional heavy-fuel oil vessels.
MOL’s Role in the VLEC Market
Since pioneering the VLEC market in 2014, MOL has built a strong reputation in liquefied ethane transport.
With this contract, MOL’s VLEC fleet will grow to 12 vessels out of about 90 global VLECs. SCGC chose MOL due to its proven track record and reliability in the sector.
SCGC’s Strategy and Goals
SCGC plans to use the VLECs to enhance competitiveness at its Long Son Petrochemicals plant in Vietnam by lowering feedstock costs and carbon emissions.
The collaboration aligns with SCGC’s focus on sustainability and innovation in the petrochemical industry.
Future Expansion and Sustainability Goals
MOL aims to meet rising ethane transportation demands by growing its VLEC fleet.
The initiative supports regional economic development and aligns with MOL’s “BLUE ACTION 2035” plan, focusing on safety, environmental conservation, and marine technology innovation.
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Source: MOL
