Mitsui O.S.K. Lines, Ltd. (MOL) has announced a leasing deal for three new LNG carriers under construction at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.
The three LNG carriers are measured at approximately 17,400 cubic metres, according to Hudong-Zhonghua Shipbuilding.
The lease has been carried out through a joint venture with COSCO SHIPPING LNG Investment (Shanghai), CNOOC Gas and Power Singapore Trading & Marketing, and CETS Investment Management (HK).
This is reportedly MOL’s first contract with Bank of Communications Finance Leasing (BOCOM), a subsidiary of Bank of Communications Co., Ltd.
In accordance with MOL’s regional strategy, this leasing arrangement was reached with a local financial institution in collaboration with a Chinese partner.
MOL said it aims to extend its funding sources and diversify its funding ways through these measures in order to enhance its competitiveness, and it seeks to implement a ‘regional strategy’ while expanding its position in China and other Asian markets.