Gas carrier pool formed
Japanese carrier MOL and Qatar's Gulf LPG Transport Co. have formed a joint pool of very large gas carriers, the companies said Tuesday.
The pool will be managed by a company in which both carriers have stakes, LPG Global Transport Management.
'Both MOL and Gulf LPG are bullish about the future expansion of global LPG (liquid petroleum gas) seaborne trade, especially from Qatar,' the carriers said in a statement. 'LPG Global Transport will be able to offer enhanced services to LPG charterers and create efficiencies by optimizing voyage costs through efficient deployment of the combined fleet.'
The pool will begin with eight vessels – five from MOL and three from Gulf LPG. Gulf LPG will then add one newbuilding in March 2009 and MOL will add seven newbuildings to be delivered during the second half of 2009 and the first half of 2010.
Gulf LPG itself is a joint venture between the Qatar Gas Transport Co. and Qatar Shipping Co.
Gas carrier pool formed
