Mitsui O.S.K. Lines, Ltd. (MOL) announced on March 17, 2025, that its group company, MOL Energia Pte. Ltd., based in Singapore, signed long-term charter contracts with SCG Chemicals (SCGC), a wholly owned subsidiary of the Siam Cement Group (SCG) in Thailand, according to the company's release.
The contracts cover two very large ethane carriers (VLECs) with a capacity of 100,000m3, in addition to three vessels previously contracted on January 24, 2025.
With approximately 90 dedicated liquefied ethane carriers currently in service or on order globally, this agreement increases the MOL Group’s managed VLEC fleet to 14.
Samsung Heavy Industries Co., Ltd. in South Korea will construct the two new VLECs at its Geoje Shipyard, with delivery scheduled for early 2028.
These vessels, alongside those contracted in January, feature ethane dual-fuel propulsion engines and have main dimensions of 230m in length, 36.6m in breadth, and 11.9m in draft, with GTT Mark II membrane cargo tanks.
The MOL Group will now operate five newly built VLECs dedicated to transporting ethane for SCGC’s petrochemical plants in Vietnam.
A VLEC is defined as a vessel with a cargo capacity of approximately 80,000m3 or more, designed to carry liquefied ethane at about minus 92 degrees Celsius. Ethane, comprising 5%-20% of natural gas depending on the gas field, is a raw material for ethylene production.
Mitsui O.S.K. Lines, Ltd. (MOL) is a Japanese shipping company, headquartered in Tokyo, operating a diverse fleet including bulk carriers, tankers, and LNG vessels, with a history dating back to 1884.
MOL Energia Pte. Ltd. is a Singapore-based subsidiary of MOL, focused on energy-related shipping services, including the management of liquefied gas carriers like VLECs.
SCG Chemicals (SCGC) is a Thailand-based petrochemical company under the Siam Cement Group, producing olefins and plastics resins, with operations across ASEAN including Vietnam and Indonesia.