Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) has revealed the charterer behind its recent charter deal for three newbuild very large ethane carriers (VLECs) to be built at Samsung Heavy Industries Geoje Shipyard.
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 Thailand-headquartered large petrochemical company SCG Chemicals PLC. (SCGC), a wholly owned subsidiary of Thailand’s Siam Cement Group Co. (SCG).
The 100,000 m3 VLECs will be built at South Korea’s Samsung Heavy Industries Co., Ltd. and are scheduled for delivery in 2027.
The 230-m-long ships will be equipped with dual-fuel ethane propulsion engines with the aim to reduce greenhouse gas, sulfur oxide, and nitrogen oxide emissions compared to conventional heavy fuel oil vessels.
The company aims to meet the expected increase in demand for ethane transportation by continuing expanding its VLEC business.
As MOL explains in its statement, VLEC is a ship with a carrying capacity of approximately 80,000m3 or more and is dedicated to transporting liquefied ethane at about minus 92 degrees Celsius.
With this contract, the number of VLECs managed and operated by the group will increase to 12 vessels out of approximately 90 VLECs which have been delivered or in order.
The company entered the VLEC business in 2014 and since then it has expanded its presence in the sector.
“MOL group expects to strengthen SCGC’s competitiveness in the petrochemical industry in Vietnam, and contribute to the growth of regional economies, by taking on the responsibility of transporting liquefied ethane for SCGC,” reads the company’s statement.
