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April 26, 2019

Mitsui enhances VLCC fleet with addition of Phoenix Jamnagar

Mitsui OSK Lines (MOL) has taken delivery of a very large crude carrier (VLCC), Phoenix Jamnagar, constructed at Japanese logistics firm Japan Marine United Corporation (JMU) Ariake works.

Mitsui OSK Lines (MOL) has taken delivery of a very large crude carrier (VLCC), Phoenix Jamnagar, constructed at Japanese logistics firm Japan Marine United Corporation (JMU) Ariake works.

The new vessel will operate under the control of its Singapore-based wholly owned subsidiary Phoenix Tankers.

Leveraging its expertise, JMU designed and developed Phoenix Jamnagar as a next-generation Malacca Max Type VLCC.

According a long-term contract between Phoenix and Reliance Industries, the vessel will mainly be used to transport crude oil to India.

“Once the transaction is closed, Mitsui OSK and REHPL will jointly own these vessels.”

Fitted with a MAN B&W 7G80ME-C9.5 main engine, the 339.50m-long Phoenix Jamnagar features a 60m-long beam, a deadweight of 311,798mt and sails at a speed of 15.5k.

Mitsui OSK noted that it will further enhance its relationship with Reliance and proposes to contribute to India’s growing crude oil imports by providing a safe ocean transport service.

Reliance Industries recently agreed to divest its stake in six fleet companies to Mitsui OSK. Reliance owns the stake in these companies through its Singapore-based subsidiary Reliance Ethane Holding (REHPL).

Managing a fleet of more than 850 vessels, Mitsui OSK is currently operating all six REHPL ethane carriers.

Once the transaction is closed, Mitsui OSK and REHPL will jointly own these vessels.

Mitsui OSK partnered with Sekido and MOL Marine in February to perform an underwater drone demonstration test using a remotely operated subsea vehicle.

Mitsui OSK’s fleet includes other tankers, dry bulkers, ferries and coastal RoRo ships, as well as car carriers and cruise vessels.

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