Mitsui O.S.K. Lines, Ltd. announced its decision to order a new LNG-fueled Very Large Crude Carrier (VLCC) under a long-term time charter contract with Idemitsu Tanker Co., Ltd., according to the company's release.
The vessel, to be constructed at Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS) in Dalian, China—a joint venture between Kawasaki Heavy Industries, Ltd. and China COSCO Shipping Corporation Limited—is scheduled for delivery in 2027.
This marks the first dual-fuel VLCC to be chartered to a Japanese oil company.
As of March 2025, MOL operates about 40 LNG-fueled vessels, including six VLCCs, with plans to expand to 90 LNG/methanol-fueled vessels by 2030.
The newly ordered VLCC will have a deadweight tonnage of approximately 309,000 tons, a length overall of about 339.5 meters, and a breadth of approximately 60.0 meters.
Mitsui O.S.K. Lines, Ltd. is a Japanese transport company headquartered in Toranomon, Minato, Tokyo. MOL reported a revenue of ¥1,775 billion (approximately US$12.5 billion) and a net income of ¥425.5 billion (approximately US$3.0 billion) for the fiscal year 2024.
Idemitsu Tanker Co., Ltd. is a Japanese shipping company specializing in the transportation of crude oil and petroleum products. It is a subsidiary of Idemitsu Kosan Co., Ltd., one of Japan's leading petroleum companies.
Dalian COSCO KHI Ship Engineering Co., Ltd. is a shipbuilding joint venture between Kawasaki Heavy Industries, Ltd. and China COSCO Shipping Corporation Limited, located in Dalian, China.