MOL secures charters for two more newbuild VLECs with SCG Chemicals
Two 100,000 cu m vessels are expected from Samsung Heavy by 2028
The Japanese shipping group has ordered another pair of VLECs from South Korea to serve the Thai petrochemical firm’s manufacturing facilities in Vietnam
MITSUI OSK Lines announced today that its subsidiary, MOL Energia, has signed long-term charter contracts with Thailand’s SCG Chemicals for two additional very large ethane carrier newbuildings.
This latest deal brings MOL’s number of VLECs for SCGC up to five, which will transport ethane to the company’s manufacturing facilities in Vietnam.
The two new ships will be built by Samsung Heavy Industries in South Korea for delivery in early 2028.
Earlier in January, MOL Energia had penned contracts with SCGC for three VLECs equipped with ethane dual-fuel engines. The fresh tonnage will have the same specifications — a cargo capacity of 100,000 cu m each.
Of approximately 90 ethane carriers operational or being built globally, these new contracts mean MOL Group will own 14 VLECs, consolidating its leading position in liquefied gas shipping.
SCGC, a wholly owned subsidiary of Thailand’s largest industrial conglomerate Siam Cement Group, uses ethane as feedstock for its petrochemical plants across Southeast Asia.
MOL said its fleet of VLECs will aid Vietnam’s fast-growing petrochemical’s industry by ensuring reliable transport of ethane to SCGC’s plants.
The Japanese shipping major also reaffirmed its commitment to pursuing management strategies focused on environmentally friendly practices and leveraging overseas partnerships to achieve sustainable growth.
