MOL names first of six newbuilding LNG carriers at Chinese shipyard

MOL has announced that on May 15 it held a naming ceremony for a newbuilding LNG carrier, the Greenergy Ocean, for CNOOC Gas & Power Singapore Trading & Marketing Pte., wholly-owned by China National Offshore Oil Corporation (CNOOC).

The vessel was named "Greenergy Ocean" while many people who attended the ceremony watched. "Greenergy" is a coined word combining "Green" and "Energy," and conveys the desire to contribute to the realization of a low-carbon society through safe, reliable transport of LNG.

This is the first vessel to be launched under a long-term charter contract for six newbuilding LNG carriers for CNOOC signed in January 2022 (Note), jointly owned by MOL, CNOOC, and COSCO SHIPPING LNG Investment (Shanghai) Co., Ltd. After delivery at the end of May, the vessel will transport LNG procured by the CNOOC Group from all over the world, mainly to China. The remaining five vessels are scheduled to be delivered in succession between 2024 and 2026.

Under its "BLUE ACTION 2035" management plan, the MOL Group has been promoting a business portfolio transformation that will enable it to increase the weight of businesses with stable earnings and ensure profitability even during downturns in the shipping industry, and the expansion of its LNG fleet, including this project, is part of the group's initiative. This is also in line with the "MOL Group Environmental Vision 2.2," which aims to achieve net zero greenhouse gas (GHG) emissions by 2050, and with the group's aim for "Expansion of low-carbon and decarbonized businesses through the collective strengths of the MOL Group."