MOL Energia secures charters for two more newbuild VLECs with SCG Chemicals
The vessels are equipped with ethane dual-fuel propulsion engines, which reduce emissions of greenhouse gases, sulfur oxides, and nitrogen oxides compared to vessels that run on conventional fuel oil.
MOL has announced that on March 17, its group Company MOL Energia Pte. Ltd. signed long-term charter contracts with SCG Chemicals.
Of the approximately 90 dedicated liquefied ethane carriers currently in service or on order worldwide, this deal will bring the number of VLECs managed and operated by the MOL Group to 14.
Samsung Heavy Industries Co. in South Korea will build two more 100,000m3 VLECs for delivery in 2028, along with the vessels contracted in January. The vessels are equipped with ethane dual-fuel propulsion engines, which reduce emissions of greenhouse gases, sulfur oxides, and nitrogen oxides compared to vessels that run on conventional fuel oil.
With the conclusion of this contract, the MOL Group will own a total of five newly built dedicated liquefied ethane carriers serving SCGC, and the group will be responsible for transporting all of the ethane used at SCGC's petrochemical plants in Vietnam. Through the safe operation of these VLECs, the MOL Group will help strengthen the competitiveness of Vietnam's petrochemical industry and boost regional economic growth.
The group will continue to provide safe, reliable ocean shipping services by leveraging its advanced safe operation management system developed over decades of experience in the transport of liquefied gases, including LNG, to meet the demand for ethane transport, which is expected to keep expanding. In addition, as a global social infrastructure group, the MOL Group will leverage its overseas network to accumulate long-term stable profits as stated in its group management plan BLUE ACTION 2035 and achieve business development and expansion in line with its regional strategies.
