MOL Signs LNG Charter with Pavilion Gas

Shailaja A. Lakshmi
Monday, February 25, 2019

Mitsui O.S.K. Lines (MOL) has announced that it has signed a long-term charter contract to operate Asia's largest (12,000m3-class) LNG bunkering vessel in Singapore, the world's largest fuel supply port, with Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy.

Demand for LNG as bunker fuel is expected to grow on a global scale as stricter SOx regulations take effect in January 2020. Singapore's Maritime and Port Authority (MPA) is focusing considerable effort on development of an LNG fuel supply infrastructure and implementing policies aimed at creating the world's largest LNG fuel supply port.

The Japanese government also concluded a "Memorandum of understanding in relation to the cooperation on the development of LNG as a marine fuel" with seven other countries, including Singapore.

Since then the Japanese government has worked closely with Singapore to promote the use of LNG fuel and develop a supply framework.

MOL has proceeded on the project with PGPL to build a cooperative structure in the private sector. They have teamed with Sembcorp Marine Specialised Shipbuilding Pte. Ltd., a subsidiary of Singapore-based Sembcorp Marine Group, for construction of the vessels, and Sinanju Tankers Pte. Ltd., which is a major bunker barge company, for a partner of ship management.

The new ship will be the second LNG bunkering vessel in Singapore and is slated to start services after its delivery to PGPL in early 2021.

In April 2017, with the aim of speeding up progress on business related to alternative bunker fuels such as LNG, MOL established the Bunker Business Division to enter the bunker business in an integrated fashion.

In other regions besides Singapore, in February 2018, it signed a long-term charter contract for the world's largest (18,600m3-class) LNG bunker vessel with Total Marine Fuels Global Solutions, which will offer services in northern Europe.

In Japan, it will launch the LNG-fueled tugboat Ishin (Note 3) in Osaka Bay in April. MOL continually promotes development of infrastructure to supply LNG fuel and drives LNG fueled vessels.

Categories: LNG Bunkering Charter Vessles

Related Stories

Eni Strengthens LNG Ties with Japan

MCDermott Gets Pipelines and Cables Job at Qatar's Giant Gas Field

ADNOC Signs 15-Year LNG Supply Deal with Indian Oil

Oil Loadings at Russia's Western Ports on the Rise

CNOOC Posts Record Interim Profit

Heat Drives Asian LNG Spot Price Spike

Profit Decline, Reserves Downgrade Drag Beach Energy to 2.5-year Low

ADNOC Signs LNG Supply Agreement with Osaka Gas for Ruwais LNG Project

Russian Oil Freight Rates Fall to Lowest Since 2022

Solar, Wind Uptake to Reach 5.4 TWac from 2024 to 2033, Says Wood Mackenzie

Current News

Valeura Energy Consolidates Thai Oil and Gas Assets

TotalEnergies Inks 15-Year LNG Supply Deal with China’s Sinopec

Shelf Drilling Secures $200M Contract Extensions with Chevron for Thailand Ops

Floating Wind and the Taming of Subsea Spaghetti

Impending Shortage of Jackups within Ageing Asia Pacific Fleet

Equinor Tries Again for a Japan Offshore Wind Lease

Yinson Production Concludes Minority Stake Sale in FPSO Anna Nery

Sunda Energy Pushes Back Chuditch-2 Appraisal Well Drilling Date

CNOOC Starts Production at Another Oil Field in South China Sea

ABS Takes Charge of Digital Twin Project for Petrobras’ FPSOs

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com