MOL and TotalEnergies Sign Charter Agreement for LPG-Fueled LPG Carrier Duo

Today, Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced that its group company, MOL Energia Pte. Ltd. (President: Miki Ogura; Head Office: Singapore), has entered into a time charter contract for two very large gas carriers (VLGCs) capable of using liquefied petroleum gas (LPG) dual-fuel technology with a subsidiary of TotalEnergies, CSSA Chartering and Shipping Services SA (CSSA). These vessels will be constructed by Hyundai Samho Heavy Industries Co., Ltd. in South Korea and are slated for delivery in 2026.

The dual-fuel vessel is capable of operating on either LPG or traditional heavy oil. When LPG is utilized as fuel, it can result in approximately a 20% reduction in CO2 emissions and a reduction of around 90% in sulfur oxides (SOx), particulate matter (PM), and similar pollutants compared to heavy oil. Moreover, the vessel's specifications permit the transportation of both ammonia and LPG. Ammonia, known for emitting no carbon dioxide during combustion, is anticipated to witness increased demand in the future as a next-generation clean energy source.

MOL has established a robust partnership with TotalEnergies across various sectors, spanning marine fuel oil transportation, long-term charter agreements for LNG carriers, and LNG bunkering vessels. The conclusion of this charter contract is set to further solidify and enhance the existing partnership between MOL and TotalEnergies.

The MOL Group has prioritized environmental strategy as a fundamental aspect of its "BLUE ACTION 2035" management plan, with the aim of attaining net zero greenhouse gas (GHG) emissions by 2050, as outlined in the "MOL Group Environmental Vision 2.2." The group is committed to collaborative, organization-wide endeavors aimed at realizing this goal of achieving net zero GHG emissions by 2050.

The vessel, with a length overall (LOA) of 230 meters and a breadth of 32.25 meters, boasts an impressive cargo tank capacity of 88,000 cubic meters. Scheduled for delivery in 2026, this cutting-edge ship is being constructed by Hyundai Samho Heavy Industries Co., Ltd., renowned for its expertise and innovation in shipbuilding. With these specifications and the shipyard's reputation, the vessel is poised to make a significant impact in maritime transportation upon its completion.

TotalEnergies, a global energy corporation based in France, specializes in the production and distribution of oil, biofuels, natural gas, green gas, renewable energy, and electricity. With over 100,000 employees dedicated to the energy sector, TotalEnergies strives to deliver cost-effective and eco-friendly energy solutions worldwide. Operating in over 130 nations, TotalEnergies actively participates in sustainable development initiatives, aiming to enhance the quality of life and foster sustainable prosperity for all.