Asia/Pacific News
MOL Secures Time-Charter Agreement with JERA for LNG Newbuild
Japanese shipping firm Mitsui OSK Lines (MOL) has signed a long-term charter deal with power firm JERA for its upcoming LNG carrier.
The vessel is being currently constructed by Samsung Heavy Industries' Geoje Shipyard in South Korea and is slated for delivery in 2026, MOL said in its statement on its website.
This is the eighth time charter agreement that MOL has signed with JERA.
"Through this long-term charter contract, MOL will contribute to the realization of a stable supply of LNG in partnership with JERA."
JERA handles nearly 40 million mt of LNG cargo annually, which is mostly used for power generation in Japan.
MOL has placed significant focus on LNG as part of its vessel fuel mix strategy. As part of this commitment, the company plans to operate at least 90 LNG/methanol-fuelled vessels by 2030.
