TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President and CEO: Takeshi Hashimoto) has announced the signing of a long-term charter contract for a newbuilding LNG carrier with a vessel operation management company funded by JERA Co., Inc. (JERA).
This is the sixth contract, following a time charter contract for five LNG carriers (Note 1) that were signed for JERA. The vessel will be built at the Geoje Shipyard of SAMSUNG HEAVY INDUSTRIES CO., LTD (Headquarters: South Korea), and is scheduled for delivery in 2027. It will be managed by MOL and will transport LNG for JERA. The new vessel will be equipped with the cutting-edge MAN Energy Solutions engine (ME-GA), which improves fuel consumption efficiency, with specifications that enhance its environmental friendliness, compared to conventional LNG carriers.
Through this long-term charter contract, MOL will contribute to the realisation of a stable supply of LNG in partnership with JERA.
MOL positions the expansion of its LNG fleet, including this project, as an accumulation of stable profit-earning businesses in its business portfolio transformation as defined in its BLUE ACTION 2035 management plan. This initiative is also in line with the MOL Group Environmental Vision 2.2 which aims to achieve net zero greenhouse gas (GHG) emissions by 2050, and the goal of “expanding the low-carbon/decarbonised business by leveraging the group’s collective strength.”
MOL will leverage its experience and expertise as one of the world’s largest shipping companies to develop various social infrastructure businesses, technologies, and services, centring on ocean transport, to meet the needs of a wide range of customers throughout the group. It aims to become a global social infrastructure company.
Read the article online at: https://www.lngindustry.com/lng-shipping/25102023/mol-signs-newbuild-lng-carrier-charter-contract-with-jera/