MOL Taps into Management Potential of LNG Carriers

Japanese shipping company Mitsui O.S.K. Lines (MOL) has begun the operation of its newly established LNG carrier management company, MOL LNG Transport (MOLLNG (Asia)) in order to meet demands of an anticipated growth in LNG transport sector. 

MOLLNG was established in Hong Kong on 15 September 2015.

MOL voiced its intention to play a central role in ship management, particularly in the Asia-Pacific region, as it becomes involved in the operation of a growing number of LNG carriers, to meet an expected increase in LNG shipments bound for Asia.

The company is currently involved in the operation of about 70 LNG carriers.

MOL manages LNG vessels through six companies in Tokyo, London, Hong Kong, Jakarta, Muscat (Oman), and Arzew (Algeria).

According to MOL’s financial report for 2015, despite depressed market conditions in the LNG carrier market, its LNG carrier division continued to secure stable profits through long-term transport contracts, leading to a year-on-improvement in ordinary income.

The global fleet of LNG carriers is ever more expanding with 146 LNG carriers in the orderbook with deliveries stretching to 2022 as of January this year, based on a report from the International Gas Union (IGU). For 2016 specifically, 46 tankers are scheduled to be delivered.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >