MOL Orders LNG-Fueled VLCC Under Long-Term Charter with Idemitsu Tanker

Mitsui O.S.K. Lines, Ltd. (MOL) has confirmed an order for a new LNG-fueled Very Large Crude Carrier (VLCC), which will operate under a long-term time charter agreement with Idemitsu Tanker Co., Ltd. The vessel, expected to be delivered in 2027, will be the first LNG dual-fuel VLCC chartered to a Japanese oil company.

The VLCC will be constructed by Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS) in Dalian, China—a joint venture between Kawasaki Heavy Industries and China COSCO Shipping Corporation. The move highlights MOL’s ongoing efforts to decarbonize its fleet in line with its “MOL Group Environmental Vision 2.2,” which targets net-zero greenhouse gas (GHG) emissions by 2050.

LNG-fueled ships can reduce carbon dioxide emissions by approximately 25% to 30% compared to conventional fuel oil. MOL sees LNG as a transitional low-carbon solution and aims to operate 90 LNG or methanol-fueled vessels by 2030. With this latest addition, MOL’s fleet of LNG-powered vessels now includes six VLCCs.

Through this partnership with Idemitsu Tanker, MOL aims to promote the use of alternative fuels and reinforce its role in shaping a more sustainable shipping sector.