MOL inks long-term charter contract for three newbuilding VLECs
Mitsui O.S.K. Lines (MOL) has announced that its group company, MOL Energia Pte. Ltd, has signed a long-term charter contract for three newbuilding very large ethane carriers (VLECs) with SCG Chemicals PLC, a wholly owned subsidiary of Thailand’s Siam Cement Group Co. (SCG). The 100,000 m3 VLECs will be built at Samsung Heavy Industries Co. and are scheduled for delivery in 2027. The vessels will be equipped with dual-fuel ethane propulsion engines, which will reduce greenhouse gas, sulphur oxide and nitrogen oxide emissions compared to conventional heavy fuel oil vessels.
With this contract, the number of VLECs managed and operated by the group will increase to 12 vessels out of approximately 90 VLECs which have been delivered or in order.
Since becoming the first company in the world to enter the VLEC business in 2014, the MOL group has steadily built up a solid track record in liquefied ethane transport and a reputation as a leading company in VLEC management and operation, gaining a high level of trust from customers, as per a release.
Source: Exim News Service: Tokyo, Jan. 26