Mitsui O.S.K (MOL) has finalised the details of a basic agreement on joint ownership and 20-year charter contract for a newbuilding LNG carrier with Tokyo LNG Tanker.
In conjunction with this MOL signed a contract with Japan Marine United Corporation for the new vessel.
This vessel follows another newbuilding LNG carrier which MOL is managing after signed a contract with Tokyo LNG Tanker and JMU back in February 2014.
The new vessel is expected to transport LNG from the Cove Point LNG Project in the United States to Tokyo Gas facilities.
MOL has involvement with ten of the 13 LNG vessels currently owned and managed by Tokyo LNG Tanker, and directly manages seven of them.
According to a statement from MOL, the company will draw on its experience, know-how and networks. “MOL continues to take a proactive stance in offering safe and stable transport of LNG, the leading source of clean energy, which has become more important in recent years."