MOL, COSCO Shipping Ink MOU on LNG, Ethane Carrier Cooperation

Japanese shipping company Mitsui O.S.K. Lines (MOL) and COSCO Shipping Energy Transportation (CSET), part of China COSCO Shipping Corporation Limited, have decided to further develop their cooperation.

Reviewing their previous joint work, the duo signed on August 6, 2019, a memorandum of understanding (MOU) covering the upcoming LNG and ethane carrier projects.

Over more than 10 years, MOL and CSET have established an extensive partnership. The duo is jointly participating in a number of ongoing projects, such as the ExxonMobil DES Project, Australia Pacific LNG Project and Yamal LNG Project.

At the same time, the two companies are aiming to advance and deepen their partnership. MOL and CSET, as a mutual strategic partner to each other, said they would continue to contribute to the development of LNG and ethane transportation industry.

Separately, MOL has also teamed up with Asahi Tanker, Exeno Yamamizu Corporation and Mitsubishi Corporation to provide new infrastructure services in the marine shipping industry that would focus on electrically powered vessels. The parties plan to build the world’s first zero-emission tanker by mid-2021.

Image Courtesy: MOL