RIL partners with MOL

The ocean carrier signed a long term shipping contract with Reliance Industries for the transportation of liquefied ethane.    Reliance Industries Ltd., India’s largest private-sector company, has entered into a strategic partnership with ocean liner carrier Mitsui O.S.K. Lines (MOL) for the transportation of liquefied ethane from the United States to India. 
   According to a release from the carrier, MOL will be the first shipping company with dedicated service for continuous liquefied ethane transportation via six “very large ethane carriers” (VLEC).
   The VLECs, a hybrid of LNG carrier and LPG carrier, which will be built by Samsung Heavy Industries Co., are expected to be delivered and put into service from North America to India in the last quarter of 2016. MOL will supervise the initial construction of the six VLECs, as well as operate and manage the vessels during the charter period for RIL.
   In its release, MOL said the VLECs “are designed to cater to the latest safety and environmental regulations and will have superior design parameters. 
   “MOL will, in response to increasing demands for energy transportation, continue its effort to provide with safe and stable sea transportation services based on high standard of safety transportation system.”