Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) has sealed a long-term charter deal for an LNG carrier newbuilding with a vessel operation management company funded by JERA Co., Inc. (JERA).
The 174,000m3 LNG carrier will be built at the Geoje shipyard of Samsung Heavy Industries Co. Ltd, headquartered in South Korea.
The 290m in length vessel, which is scheduled for delivery in 2026, will be managed by MOL and will transport LNG for Tokyo-based JERA.
This is not the first time MOL signed a contract with JERA. This is the eighth contract for LNG carrier signed with JERA, an energy company that leads Japan in power generation capacity and ranks among the highest in the world in fuel transaction volume, according to MOL’s description.
MOL didn’t disclose any financial terms or the duration of the charter contract in its announcement.
“MOL positions the expansion of its world’s largest LNG fleet and long-term charter contracts, including this project, as an accumulation of stable profit-earning businesses in its business portfolio transformation as defined in its “BLUE ACTION 2035” management plan,” the company added in its statement.