MOL signs charter deals for new LNG carriers

  • Sep 14, 2021
  • Energy Global

Mitsui O.S.K. Lines, Ltd has announced that, through a subsidiary, it has signed time charter contracts for four new-building LNG carriers with NOVATEK Gas & Power Asia Pte. Ltd, a wholly owned subsidiary of Russia's PAO NOVATEK. The vessels will be constructed at Daewoo Shipbuilding & Marine Engineering Co., Ltd, and are slated for delivery in 2024.

The new-building LNG carriers are equipped with the cutting-edge MAN Energy Solutions engines, which offer major improvements in fuel efficiency. It also adopts a new design that generates less boil-off gas from cargo tanks through the use of the reliquefaction unit on board, and a shaft generator system that uses the rotating propeller shaft for power generation. These vessels are considerably more environmentally friendly than current LNG carriers.

MOL addresses environmental issues in accordance with the ‘MOL Group Environmental Vision 2.1’ (Note 1), and as a united team, it continually strives to achieve sustainable GHG net zero emissions, contributing to the realisation of a low-carbon society.