MOL and TotalEnergies Ink Time Charter Deals for Two VLGC Newbuilds

Mitsui O.S.K. Lines (MOL) has signed a time charter contract for two liquefied petroleum gas (LPG) dual-fuel very large gas carriers (VLGCs) with a subsidiary of TotalEnergies, CSSA Chartering and Shipping Services (CSSA).

MOL made the agreement through its subsidiary MOL Energia.

The vessels will be built by Hyundai Samho Heavy Industries in South Korea and are scheduled for delivery in 2026.

The overall length of vessels is 230 meters, with brad of 32.25 meters. Their cargo tank capacity is 88,000 m3.

The dual-fuel vessel can run on either LPG or conventional heavy oil, and when LPG is used as fuel, CO2 emissions can be reduced by about 20% and sulfur oxides (SOx,) particulate matter (PM), and so on by about 90% compared to heavy oil.

In addition, the specifications allow for the transport of ammonia as well as LPG. Ammonia, which emits no carbon dioxide during combustion, is expected to increase in demand in the future as a next-generation clean energy source.