MOL Charters Two More VLEC Newbuilds to SCG Chemicals
MOL Energia, a subsidiary of Mitsui O.S.K. Lines (MOL), has signed long-term charter contracts with SCG Chemicals, a wholly owned subsidiary of the Siam Cement Group (SCG), for two very large ethane carriers (VLECs), to be built in South Korea.
The charter for two more VLECs comes in addition to three vessels already contracted by SCG Chemicals in January 2025.
Of the approximately 90 dedicated liquefied ethane carriers currently in service or on order worldwide, this deal will bring the number of VLECs managed and operated by the MOL Group to 14.
Samsung Heavy Industries in South Korea will build two more 100,000m3 VLECs for delivery in 2028, along with the vessels contracted in January.
The vessels are equipped with ethane dual-fuel propulsion engines, which reduce emissions of greenhouse gases, sulfur oxides, and nitrogen oxides compared to vessels that run on conventional fuel oil.
With the conclusion of this contract, the MOL Group will own a total of five newly built dedicated liquefied ethane carriers serving SCGC, and the group will be responsible for transporting all of the ethane used at SCGC's petrochemical plants in Vietnam.
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