Mitsui O.S.K. Lines, Ltd. (MOL) has announced the order of a new LNG-fueled very large crude carrier (VLCC) under a long-term charter agreement with Idemitsu Tanker Co., Ltd.
This marks the first dual-fuel VLCC to be chartered to a Japanese oil company. The vessel will be constructed at Dalian COSCO KHI Ship Engineering Co., Ltd. in China and is scheduled for delivery in 2027. MOL aims to expand its fleet to 90 LNG/methanol-fueled vessels by 2030, with about 40 such ships already in operation, including six VLCCs.
Through this charter with Idemitsu, MOL continues to promote LNG adoption and support the shipping industry’s shift toward sustainability.
Meanwhile, MOL has responded to recent media reports suggesting it may suspend new LNG carrier orders to Chinese shipyards. The company clarified that while it is mindful of current geopolitical tensions, it will continue to make careful decisions regarding shipyard selection, prioritizing quality, safety, and strategic stability in its LNG carrier procurement.
MOL emphasized the critical role of LNG in supporting the global shift toward a decarbonized society and reaffirmed its commitment to maintaining a stable energy supply for Japan and the world. With a limited number of shipyards globally capable of building high-quality LNG carriers, MOL views Chinese shipyards as important partners in ensuring diversification and flexibility.
Although shipping companies are increasingly monitoring developments such as potential U.S. port fees on Chinese-built vessels, MOL will continue to consider both Chinese and South Korean shipyards, evaluating them against its standards and the evolving geopolitical landscape.
