Mitsui O.S.Ok. Traces Ltd. (MOL) has signed a long-term constitution contract with Tokyo LNG Tanker Co. Ltd. (TLT), a unit of Tokyo Fuel, for a newbuild LNG service, following a previous time constitution contract for seven LNG carriers signed with TLT.
The vessel will likely be constructed on the Geoje Shipyard of Hanwha Ocean Co. Ltd. and is scheduled for supply in 2026. MOL will handle the vessel that will likely be utilized for TG Group’s LNG procurement and LNG buying and selling after supply, MOL mentioned in a information launch.
The brand new vessel will likely be outfitted with the MAN Power Options engine, which improves gasoline consumption effectivity, with specs that improve its surroundings friendliness, in comparison with typical LNG carriers, in accordance with the shipowner. It has an total size of 294.9 meters (967.5 toes) and the capability to move 174,000 cubic meters (6.1 million cubic toes) of the chilled gasoline.
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“By way of this long-term constitution contract, MOL will contribute to the belief of a steady provide of LNG in partnership with Tokyo Fuel”, MOL mentioned.
In a separate assertion, Tokyo Fuel mentioned that that is the eleventh LNG service TLT has secured beneath a long-term constitution contract. Eight have been chartered from MOL, whereas a further three LNG carriers are on rent from NYK.
MOL’s growth of its LNG fleet, which incorporates the newest constitution contract with TLT, is a part of the corporate’s Blue Motion 2035 administration plan. Below the plan, MOL Group mentioned it’s pursuing enterprise portfolio reforms that can permit it to extend the burden of its stable-profit companies and safe profitability even throughout downturns within the delivery market.
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