MOL Energia Signs Long-Term Charter Contracts for Two VLECs with SCG Chemicals

MOL Energia, a subsidiary of Mitsui O.S.K. Lines (MOL), has recently inked long-term charter agreements with SCG Chemicals, a wholly owned subsidiary of the Siam Cement Group (SCG), for the construction of two very large ethane carriers (VLECs) in South Korea.

This latest deal adds to the three VLECs that SCG Chemicals had already contracted with MOL in January 2025, bringing the total number of VLECs managed and operated by the MOL Group to 14, out of the approximately 90 dedicated liquefied ethane carriers currently in service or on order globally.

These two new 100,000m3 VLECs will be built by Samsung Heavy Industries in South Korea and are expected to be delivered in 2028, alongside the vessels from the previous contract signed earlier this year.

Environmentally Friendly Vessels

One of the key features of these VLECs is their ethane dual-fuel propulsion engines, designed to lower emissions of greenhouse gases, sulfur oxides, and nitrogen oxides when compared to conventional fuel oil-powered vessels. This aligns with the ongoing industry-wide efforts to reduce the environmental impact of maritime transportation.

By securing this contract, the MOL Group will have a total of five newly built dedicated liquefied ethane carriers dedicated to serving SCGC, with the responsibility of transporting all ethane needed for SCGC’s petrochemical plants in Vietnam.