Mitsui O.S.K. Lines (MOL) has issued a statement addressing recent media reports suggesting the company intends to suspend new liquefied natural gas (LNG) carrier orders from Chinese shipyards.
MOL clarified that it will exercise prudent judgment in selecting shipyards for new LNG carrier orders, considering current geopolitical circumstances.
The company emphasized the critical role of LNG as an energy source supporting the global transition to a decarbonized society. MOL stated its mission is to support stable energy supplies in Japan and globally as a leading LNG transportation operator.
The company noted that securing a stable LNG transportation infrastructure is essential to meet this demand.
MOL highlighted that only a limited number of shipyards worldwide can build high-quality LNG carriers. Chinese shipyards are considered important partners for ensuring diversification and flexibility in procurement sources.
The company acknowledged that shipping companies have been ordering LNG carriers from Chinese shipyards based on their discretion and customer requirements. However, many are now monitoring trends, including the U.S.’s “consideration of additional port fees for Chinese-built vessels” and other influencing factors.
MOL stated it will continue to assess Chinese shipyards that meet its quality and safety standards, alongside South Korean shipyards, while considering future U.S. policy trends and geopolitical risks to fulfill global LNG transportation demand.
Mitsui O.S.K. Lines, Ltd., headquartered in Tokyo, Japan, is a global shipping company founded in 1884. It operates one of the world’s largest fleets, with over 700 vessels, including LNG carriers, bulk carriers, containerships, and tankers.