MOL’s FSRU Challenger Named at DSME
- Business & Finance
Mitsui O.S.K. Lines’ (MOL) first independently owned, built and operated floating storage and regasification unit (FSRU), the MOL FSRU Challenger, was named at Daewoo Shipbuilding & Marine Engineering’s Okpo shipyard in Korea on September 28.
The MOL FSRU Challenger will provide storage and regasification services to a project in Turkey after delivery during October, the Japanese shipping company said.
The operation is slated to commence within 2017.
The Bahamas-flagged MOL FSRU Challenger has an LNG storage capacity of 263,000m3 and has LNG re-shipment and gas transfer capabilities.
Its specifications allow for the re-export of LNG and supply of LNG to neighboring regions where the vessel is located.
“MOL is moving boldly into the LNG secondary transport and LNG fuel supply businesses in Asia and Central and South America regions where it anticipates rising demand for LNG,” the company commented.
MOL further added that due to the flexibility and mobility FSRUs offer it would continue to promote the FSRU business.
The company is the only Japanese shipping company that owns and operates an FSRU.
In addition to ownership and operation of the FSRU, MOL announced its decision to participate in an FSRU project in India reflecting its ongoing strategy to“pursue vertically integrated businesses that are not limited to transportation in the LNG business.”