Japanese shipowner Mitsui OSK Lines (MOL) has revealed the charterer behind its recent shipbuilding deal for very large ethane carriers (VLECs) in South Korea.
The Tokyo-based company ordered three 100,000 cu m vessels at Samsung Heavy Industries in late December at around $168m each for delivery by December 2027.
The 230-m-long newbuilds have been fixed long-term to SCG Chemicals, a unit of Thailand’s Siam Cement Group.
The vessels will be equipped with dual-fuel ethane propulsion engines, reducing greenhouse gas, sulphur oxide, and nitrogen oxide emissions compared to conventional heavy fuel oil vessels, MOL said.
The company entered the VLEC business in 2014 and has since expanded its presence in the sector. The latest deal will see the number of VLECs managed and operated by MOL increase to 12 vessels out of about 90 VLECs delivered or on order.
MOL also has three VLECs under construction at HD Hyundai Heavy Industries yard in Ulsan. These 98,000 cu m newbuilds, tied to charter contracts with India’s Reliance Industries, should deliver in the first half of 2027.
