MOL secures deal for three LNG carriers

MOL secures deal with Chinese leasing firm for three LNG carriers

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.

This comes three months after MOL signed a Memorandum of Understanding (MoU) to build a clean hydrogen and ammonia value chain derived from renewable energy sources in southern Thailand.

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.

This month, Marlink, a digital solutions provider, assisted MOL in assessing the impact of low-Earth orbit (LEO) Internet services on business sustainability and crew wellbeing.

Additionally, MOL signed a MoU with Chevron Singapore PTE. LTD. to reduce the carbon intensity of their maritime energy industries.

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