MOL, Tokyo LNG Tanker to build and charter LNG Carrier

Japan’s Mitsui O.S.K. Lines, Ltd. (MOL) has concluded a basic agreement on joint ownership and 20-year charter contract for a newbuilding LNG carrier with Tokyo LNG Tanker, and signed a contract with Japan Marine United Corporation (JMU) for the construction of the new vessel. This is the second vessel MOL will manage, following another newbuilding LNG carrier, which
contracted with Tokyo LNG Tanker and JMU on February 28, 2014. The second vessel will transport LNG from the Cove Point LNG Project in the United States to Tokyo Gas facilities. MOL is involved in operating ten of 13 LNG carriers owned and managed by Tokyo LNG Tanker, including this newbuilding vessel, and directly manages seven of those ten ships.