MOL Signs Long-Term Charter Contract for New LNG Carrier

Tokyo, Japan – Mitsui O.S.K. Lines, Ltd. (MOL) announced today the signing of a long-term charter contract for a newbuilding LNG carrier with a vessel operation management company funded by JERA Co., Inc. This marks the seventh such contract following a previous agreement for a sixth LNG carrier. The new vessel, to be constructed at the Geoje Shipyard of Samsung Heavy Industries in South Korea, is scheduled for delivery in 2026.

The new LNG carrier will be managed by MOL and will transport LNG for JERA. It will feature the advanced MAN Energy Solutions engine (ME-GA), which improves fuel efficiency and environmental performance compared to conventional LNG carriers. Through this long-term charter contract, MOL aims to ensure a stable supply of LNG in partnership with JERA.

Vessel Particulars

This initiative aligns with MOL’s “BLUE ACTION 2035” management plan, focusing on transforming its business portfolio by expanding its LNG fleet and securing long-term charters. Recognized as a low-carbon energy source, LNG produces fewer greenhouse gas emissions during combustion compared to heavy oil. The project supports the “MOL Group Environmental Vision 2.2,” targeting net-zero greenhouse gas emissions by 2050 and promoting low-carbon and decarbonized business initiatives.

Leveraging its vast experience as one of the world’s largest shipping companies, MOL aims to develop various social infrastructure businesses, technologies, and services centered on ocean transport. The company strives to become a global social infrastructure firm, supporting daily lives, ensuring a prosperous future, and delivering new value to stakeholders worldwide.