MOL expands fleet of product tankers

MOL expands fleet of product tankers    Japan’s Mitsui O.S.K. Lines Ltd. has decided to expand its fleet of product tankers fleet to 30 vessels by 2006. It has ordered seven double-hulled “LR1” (large ranger 1) 75,000-deadweight-ton product tankers, for delivery by 2006, increasing the number of this type MOL owns to 10.
   MOL forecasts steady growth in the trade of oil products — the cargo transported by LR1-type product tankers — such as gasoline, naphtha, kerosene, diesel oil and jet fuel.
   MOL said the vessel orders are part of its plan to focus on expansion of the company's energy and resource transport business.
   The Japanese group said it aims to increase its profits with a larger fleet of product tankers, as well as crude oil tankers and methanol carriers.