Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) has explained its position on the company’s selection of shipyards for new LNG carrier orders.
Responding to recent media reports suggesting that MOL intends to suspend new LNG carriers orders to Chinese shipyards, the company said: “MOL would like to clarify that, taking the current geopolitical circumstance into account, the company will exercise prudent judgment in selecting shipyards for any new LNG carrier orders.”
MOL explained that it will carefully assess the use of Chinese shipyards that meet its quality and safety standards, alongside South Korean shipyards, while taking a comprehensive view of future U.S. policy trends and geopolitical risks.
Many shipping companies have been ordering LNG carriers from Chinese shipyards. However, many of the companies are now closely monitoring the trends, including the U.S.’s “consideration of additional port fees for Chinese-built vessels” and other influencing factors.
There is only a limited number of shipyards in the world capable of building the high-quality LNG carriers to provide a stable LNG transportation, MOL said, adding that Chinese shipyards are an important partner to ensure diversification and flexibility in procurement sources.
“LNG plays a significant role as an energy source supporting the global transition to a decarbonized society. MOL’s mission is to support stable energy supplies in Japan and the world as a leading LNG transportation operator. Securing a stable LNG transportation infrastructure is essential to meet this demand,” read the company’s statement.
