Mitsui O.S.K. Lines, Ltd. announced that the company and other two companies including Chubu Electric Power Company decided a deal on joint ownership with Chubu Electric's decision to invest in Trans Pacific Shipping 2 Ltd., an LNG carrier-owning company, the company said in its press release.
MOL established Trans Pacific Shipping 2 Ltd.(TPS2), a fifty-fifty joint venture owned with Mitsubishi Corporation, in May 2012, aimed at transporting LNG from Australia for Chubu Electric Power Company. TPS2 reached a long-term charter contract with Chubu Electric in October 2012.
Of the LNG tanker holding company's stock, MOL will transfer 30% and Mitsubishi 10% so Chubu Electric can own a 40% share. The actual transfer is scheduled when the vessel is delivered.