Japanese shipping company Mitsui O.S.K. Lines (MOL) has entered into a lease agreement for three new LNG carriers with Bank of Communications Financial Leasing Co (BOCOM Leasing).
The three 17,400 cbm LNG carriers are under construction at Hudong-Zhonghua Shipbuilding (Group).
According to the company, this lease agreement was achieved with a local financial institution in collaboration with a Chinese partner, in line with MOL’s regional strategy.
The deal was struck through a joint venture with COSCO SHIPPING LNG Investment (Shanghai) Co., Ltd., CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd., and CETS Investment Management (HK) Co., Limited.
Through these initiatives, MOL will expand its funding sources and diversify its funding methods to strengthen its competitiveness, and it aims to realize a “regional strategy” while increasing its presence in China and other Asian markets.
Furthermore, on 14th June, MOL has signed a long term charter contract for a newbuilding LNG carrier with a vessel operation management company funded by JERA.
