MOL pens contracts to build and charter LNG carriers

Mitsui OSK Lines (MOL) on Friday signed two separate contracts to charter two LNG carriers with Kansai Electric Power Inc and to build the ships at two Japanese shipyards, Seatrade Asia online reports.

MOL will build the LNG carriers at Kawasaki Heavy Industries and Mitsubishi Heavy Industries. The ships are scheduled for delivery in 2016 and 2017 respectively.

Both ships will be designed with a new steam turbine engine that reuses steam for heating so as to reduce fuel consumption.

They will also feature an advanced heat insulation system that offers the lowest LNG vapourisation rate – 0.08% - of any LNG carrier in the world, MOL claimed.

“Its environment-friendly, economically-advanced design also effectively controls surplus boil-off gas,” MOL said in a statement.