MOL Signs Charter Deals for 4 New LNG Carriers to Serve NOVATEK

Tokyo - September 14, 2021

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto ; Headquarters: Tokyo) today announced that, through a subsidiary, it has signed time charter contracts for four newbuilding liquefied natural gas (LNG) carriers with NOVATEK Gas & Power Asia Pte. Ltd., a wholly owned subsidiary of Russia's PAO NOVATEK.

The vessels will be constructed at Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME ; Headquarters: South Korea), and are slated for delivery in 2024.

The newbuilding LNG carriers are equipped with the cutting-edge MAN Energy Solutions engines, which offer major improvements in fuel efficiency. It also 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.

These vessels are considerably more environmentally friendly than current LNG carriers.

MOL addresses environmental issues in accordance with the "MOL Group Environmental Vision 2.1", and as a united team, it continually strives to achieve sustainable GHG net zero emissions, contributing to the realization of a low-carbon society.

Please refer to our previous press releases in relation with NOVATEK projects.

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Mitsui O.S.K. Lines, Ltd. press release