MOL in 20-year contract with Tokyo LNG Tanker
Mitsui OSK Lines (MOL) is to build an LNG carrier for a 20-year contract to transport natural gas from the US to Japan via the Panama Canal.
MOL inked a joint ownership and 20-year charter contract with Tokyo LNG Tanker, a subsidiary of Tokyo gas. At the same time it ordered a 165,000 cu m LNG carrier newbuilding from Japan Marine United for delivery in 2017.
MOL will have a 90% stake in the vessel while, Tokyo LNG Tanker will have a 10% share.
The vessel will ship natural gas from Cove Point LNG on the US east coast to Tokyo via the Panama Canal.