Mitsui O.S.K. Lines, Ltd. recently announced that its subsidiary, MOL Energia Pte.
Ltd., signed long-term charter contracts with SCG Chemicals (SCGC), a key player in the ASEAN chemical market. This agreement, finalized on March 17, includes two additional very large ethane carriers (VLECs) to supplement three vessels previously contracted on January 24.
With this latest deal, the total number of VLECs managed by the MOL Group will increase to 14. As of now, around 90 dedicated liquefied ethane carriers are either in service or on order worldwide.
The new vessels will be constructed by Samsung Heavy Industries in South Korea and are expected to be delivered in 2028. Each vessel will have a capacity of 100,000m3 and will be equipped with dual-fuel propulsion engines designed to lower emissions of greenhouse gases, sulfur oxides, and nitrogen oxides.
Upon completion of this contract, the MOL Group will have five newly built dedicated ethane carriers specifically servicing SCGC. These vessels are crucial for transporting ethane to SCGC’s petrochemical plants in Vietnam, thereby enhancing the competitiveness of Vietnam’s petrochemical sector and contributing to regional economic growth.
The MOL Group is committed to providing safe and reliable ocean shipping services. They utilize an advanced safety management system, which has been honed through decades of experience in transporting liquefied gases, including LNG.
The demand for ethane transport is anticipated to continue growing, and the group’s strategies align with its management plan, BLUE ACTION 2035, aimed at fostering long-term stable profits while pursuing business expansion in line with regional objectives.