MOL Inks Long-Term Charter for New LNG-Fueled VLCC

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