Mitsui OSK Lines (MOL) and Cosco Shipping Energy Transportation (CSET) have signed a memorandum of understanding (MoU) to co-operate on future LNG and ethane carrier projects
Signed by MOL president and chief executive Junichiro Ikeda and CSET president Zhi Maijin, the MoU builds on a 10-year partnership between the Japanese shipowner and the energy shipping unit of China Cosco Shipping Corporation.
The two companies have previously jointly participated in projects such as ExxonMobil’s DES, Australia Pacific LNG and Yamal LNG.
The new MoU aims to develop the two companies’ partnership by participating in upcoming opportunities based around LNG and ethane carrier projects.
In July, MOL and CSET’s parent company’s joint-owned ARC7 ice-breaking LNG carrier Nikolay Urvantsev was named at South Korea’s Daewoo Shipbuilding & Marine Engineering Co shipyard.
Also in July, MOL signed another MoU with class society ABS to collaborate on up to 14 new gas carriers, comprising seven newbuild very large ethane carriers and up to seven newbuild LNG carriers designed to carry gas from the US to China and other global markets.