MOL orders VLGCs from Japanese yards

MOL orders VLGCs from Japanese yards    Japan’s Mitsui O.S.K. Lines has ordered four very large gas carriers (VLGCs, full refrigerated-type gas carriers) from two compatriot shipyards.
   Three 83,000-cubic-meter ships will be built at Mitsubishi Heavy Industries, with two slated for delivery in the second half of 2009 and one during the first half of 2010. One of these ships will be owned by a new 50-50 joint venture that will be established by MOL and Oman Shipping Co., which is wholly owned by the government of Oman.
   One 80,000 m3 vessel will be built by Kawasaki Shipbuilding Corp., due for delivery in the second half of 2009.
   The company also signed long-term charter contracts with Hong Kong-based CIDO Shipping for three additional VLGCs, which will be built at Hyundai Heavy Industries Co.
   “Production of liquefied petrochemical gas (LPG) will increase on a global scale, resulting in rising demand for ocean transport of this commodity. MOL is expanding its fleet scale to meet this increasing demand,” MOL said in a statement.