A subsidiary of Mitsui OSK Lines has signed time charter contracts for four 174,000-m3 newbuilding LNG carriers with Novatek
The four LNG carriers will be built by South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) with deliveries in 2024.
The newbuilding LNG carriers are equipped with ’cutting-edge’ MAN Energy Solutions engines, which offer major improvements in fuel efficiency, according to MOL. The propulsion system adopts a new design that generates less boil-off gas from cargo tanks through the use of the re-liquefaction unit on board, and a shaft generator system that uses the rotating propeller shaft for power generation.
MOL said these vessels are considerably more environmentally friendly than current LNG carriers.
This agreement follows a letter of intent signed between MOL and Russia’s GTLK for the potential acquisition of a 49% share in the owners of the floating storage units (FSU) that will be used for LNG transhipment projects in Kamchatka and Murmansk. The two Russian-owned FSU companies have entered into bareboat charter agreements with Arctic Transshipment, a joint venture of Novatek and TotalEnergies. Arctic Transshipment will provide transhipment services to Novatek’s LNG-projects by reloading LNG cargoes from ice-class LNG carriers to conventional LNG carriers.
Positioned at each end of the Northern Sea Route, the FSUs will serve as receiving hubs for LNG from Yamal LNG and Arctic LNG-2, allowing cargoes to be shipped to discharging terminals in Europe and Asia. Switching from ice-class LNG carriers to conventional LNG carriers will reduce voyage costs and cut greenhouse gas emissions.
Under construction at DSME, each FSU will have a capacity of 360,000 m3, making them the largest in the world.
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