Mitsui O. S. K. Lines (MOL) has signed a head of agreement on joint ownership and 20-year charter contract for a new liquefied natural gas (LNG) carrier with Tokyo LNG Tanker Company, a Tokyo Gas subsidiary.
MOL also signed a contract with Japan Marine United Corporation to build the new LNG vessel. The ship is due for completion in 2017.
Cove Point LNG
MOL will manage the new carrier, which will primarily transport LNG from the Cove Point LNG project in the US to Tokyo Gas facilities.
The new LNG carrier will have a cargo capacity of 165 000 m3 and feature the self-supporting prismatic shape IMO Type B (SPB) cargo tank, which was developed by IHI Corporation and Japan Marine United. The SPB tank is a cargo containment system in which most of the cargo tank is covered by the hull. This environmental-friendly tank reduces water resistance, increasing fuel efficiency and reducing CO2 emissions.
MOL is involved in operating nine of 12 LNG carriers owned and managed by Tokyo LNG Tanker and directly manages six of those nine ships.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/lng-shipping/03032014/mol_to_own_and_charter_new_lng_carrier_234/