Mitsui O.S.K. Lines Signs Long-Term Charter for LNG-Fueled VLCC Mitsui O.S.K. Lines, Ltd. (MOL), a prominent Tokyo-based shipping company, has announced an agreement to charter a new LNG-fueled very large crude carrier (VLCC) to Idemitsu Tanker Co ., Ltd.. This vessel will be the first dual-fuel VLCC to serve a Japanese oil company. The construction is set to be carried out by Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS) in China, with an expected delivery by 2027.
This strategic move aligns with MOL's environmental goals as part of its "MOL Group Environmental Vision 2.2," which aims for net zero greenhouse gas emissions by 2050. LNG fuel is considered a preferable option over conventional oil, as it can reduce carbon dioxide emissions by approximately 25-30%. The company plans to operate 90 LNG/methanol-fueled vessels by 2030, a step towards sustainable decarbonization in shipping.
As of March 2025, MOL has a fleet of about 40 LNG-fueled vessels, six of which are VLCCs, including the newly ordered ship. This agreement with Idemitsu Tanker is part of MOL's wider effort to encourage the use of LNG across the industry, thereby mitigating the environmental impact associated with traditional shipping methods.

Source: https://www.mol.co.jp/en/pr/2025/25047.html