Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) through its group company MOL Energia Pte. Ltd. sealed on March 17 long-term charter deals with Thailand-based SCG Chemicals, a wholly owned subsidiary of Thailand’s Siam Cement Group (SCG), a chemical player in ASEAN, offering a full range of petrochemical products, for two very large ethane carriers, in addition to three vessels already contracted on January 24.
To remind, the three 100,000 m3 VLECs will be built at Samsung Heavy Industries Co., Ltd and are scheduled for delivery in 2027. MOL said that its group company MOL Energia Pte. Ltd. signed on January 23 a long-term charter contract for three newbuilding very large ethane carriers (VLECs) with SCG Chemicals PLC. (SCGC).
Of the approximately 90 liquefied ethane carriers currently in service or on order worldwide, this deal will bring the number of VLECs managed and operated by the MOL Group to 14.
Samsung Heavy Industries Co. in South Korea will build two more 100,000m3 VLECs for delivery in 2028.
The vessels are equipped with ethane dual-fuel propulsion engines, and will have a 230m length and 36.6m breadth.
With the conclusion of this deal, the MOL Group will own a total of five newly built dedicated liquefied ethane carriers serving SCGC, and the group will be responsible for transporting all of the ethane used at SCGC’s petrochemical plants in Vietnam.
MOL Group expects this deal to strengthen the competitiveness of Vietnam’s petrochemical industry and boost the regional economic growth.
