MOL Orders LNG-Fuelled VLCC

by Ship & Bunker News Team
Thursday April 4, 2024

Japanese shipping company MOL has ordered a dual-fuelled VLCC capable of running on LNG.

The company has signed a deal to raise funds for the vessel's construction using a transition-linked loan, it said in a statement on its website on Wednesday.

The financing will come from Sumitomo Mitsui Trust Bank.

The ship will be built at the Dalian COSCO KHI Ship Engineering Co facility in China.

"The MOL Group has positioned environmental strategy as one of its key strategies and has set 'ocean and global environmental conservation' as one of the sustainability issues (materiality) in the group management plan 'BLUE ACTION 2035' established last year," the company said in the statement.

"The group is committed to solving environmental issues through co-creation with its stakeholders as it aims to achieve net zero emissions by 2050.

"The group will utilize this framework to implement sustainable finance flexibly and continuously."