MOL Signs Long-Term Charter Contract for Three New VLECs with SCG Chemicals
Mitsui O.S.K. Lines (MOL) has recently announced the signing of a long-term charter contract for three newbuilding very large ethane carriers (VLECs) with SCG Chemicals, a subsidiary of Thailand’s Siam Cement Group (SCG). The 100,000 m3 VLECs, measuring 230 meters in length and 36.6 meters in breadth, are scheduled for delivery in 2027 and will be constructed at Samsung Heavy Industries.
One of the key features of these vessels is the incorporation of dual-fuel ethane propulsion engines, which are designed to significantly reduce greenhouse gas, sulfur oxide, and nitrogen oxide emissions compared to traditional heavy fuel oil vessels. This move aligns with MOL’s commitment to environmentally sustainable shipping practices and demonstrates the company’s dedication to reducing its carbon footprint.
With this latest contract, MOL’s fleet of VLECs is set to expand to a total of 12 vessels out of the approximately 90 VLECs that have been delivered or are currently on order. This growth in the VLEC sector solidifies MOL’s position as a leading provider of ethane transportation services.
In a statement regarding the agreement, MOL highlighted SCG Chemicals’ recognition of the company’s expertise in the VLEC sector and its selection of MOL as the preferred service provider for ethane transport. This partnership is expected to enhance SCG Chemicals’ competitive edge in the petrochemical industry in Vietnam and contribute to the overall economic growth of the region.
As MOL continues to expand its presence in the VLEC market and strengthen its partnerships with key industry players like SCG Chemicals, the company remains committed to driving innovation and sustainability in the maritime sector. By investing in cutting-edge technology and eco-friendly solutions, MOL is paving the way for a more efficient and environmentally conscious shipping industry.
Overall, the long-term charter contract for three new VLECs with SCG Chemicals marks a significant milestone for MOL and underscores the company’s ongoing commitment to delivering high-quality, sustainable shipping solutions to its customers.