Japan's MOL signs charter deal for LNG carrier with Jera

Mitsui O.S.K. Lines (MOL), a leading Japanese shipping company, announced on May 22 the signing of a long-term charter contract for a newbuilding LNG carrier with a vessel operation management company funded by the energy company Jera.

This latest agreement marks the seventh such contract, following a time charter contract for a sixth LNG carrier signed last year.

The new LNG carrier will be constructed at the Geoje Shipyard of Samsung Heavy Industries and is scheduled for delivery in 2026. The 170,000 m³ vessel will be managed by MOL and will transport LNG for Jera.

Equipped with a MAN Energy Solutions engine (ME-GA), the vessel boasts improved fuel consumption efficiency and enhanced environmental friendliness compared to conventional LNG carriers, MOL said. 

Founded in 2015, Jera is a joint venture between Tokyo Electric Power Company and Chubu Electric Power Co. It is recognised as one of the world's largest buyers of LNG.