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August 25, 2022

MOL announces agreements for six LNG-powered vessels

The company plans to build four Capesize bulkers and two very large crude carriers.

Japan-based Mitsui OSK Lines (MOL) has unveiled plans to build four bulkers and two crude carriers fuelled by liquefied natural gas (LNG).  

The company has struck construction agreements with shipbuilding firms in this regard.

The latest announcement is aligned with the company’s ‘Environmental Vision 2.1’ introduced in June 2021, which includes the aim of achieving net zero greenhouse gas (GHG) emissions by 2050.

Furthermore, the company plans to operate nearly 90 LNG-fuelled vessels by 2030.

MOL entered a deal with China-based CSSC Qingdao Beihai Shipbuilding for four 210,000DWT-class Capesize bulkers.

The new bulk carriers are expected to be delivered in phases from 2025 to 2026.

For the construction of two 309,000DWT-class very large crude carriers (VLCCs), the company signed a contract with Kawasaki Heavy Industries (KHI), headquartered in Tokyo.

The VLCCs will be built by Dalian COSCO KHI Ship Engineering, a joint venture of KHI and China COSCO Shipping.

These two crude carriers are slated for delivery in 2025 and 2026.

The new carriers are among the 16 ocean-going LNG-fuelled vessels ordered by the MOL Group. The other vessels include car carriers, bulkers, six ferries, a tugboat and a coastal cargo vessel. 

In a statement, the company said it will focus on ‘environment conservation for marine and global environment as well as innovation for development in marine technology’.

In January, MOL reached a time charter agreement with Mitsui & Co for a 174,000m³ LNG vessel.

Slated for delivery by 2024, the carrier will mainly be used to supply LNG for Mitsui & Co projects worldwide.

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