MOL adds seventh newbuilding to long-term charter with JERA 

MOL said it signed the long-term charter contract for its latest newbuilding LNG carrier with a vessel operation management company that is a subsidiary of Japan’s largest power generation company, JERA.

JERA works on a model based on operating a full supply chain delivery of fuel, from upstream and procurement through to power generation.

The vessel will be built at the Samsung Heavy Industries’ Geoje Shipyard and is scheduled for delivery in 2026. It will be managed by MOL and will transport LNG for JERA.

MOL said its new vessel will be equipped with MAN Energy Solutions’ methanol-burning ME-GA engine, "which improves fuel consumption efficiency, with specifications that enhance its environment friendliness, compared with conventional LNG carriers".

This is the seventh contract with JERA, and all seven LNG carriers will be time-chartered with JERA businesses, according to MOL. 

The newbuild vessel will be 290 m in length, 46 m wide and will have a capacity for 174,000 m³. 

Under a week ago, subsidiaries of MOL and TotalEnergies signed a time charter contract for two dual-fuel very large gas carriers (VLGCs) that are also set to be built in South Korea.

The pair of VLGCs will be built at Hyundai Samho Heavy Industries shipyard, and are scheduled for delivery in 2026, according to MOL.

MOL Energia and Total’s Chartering and Shipping Services SA subsidiary signed the time charter contract for the two liquefied petroleum gas (LPG) dual-fuel VLGCs, capable of running on LPG or heavy fuel oil.