Japan’s shipping giant Mitsui O.S.K. Lines (MOL) has struck a charter deal with India’s state-owned Oil and Natural Gas Company (ONGC), which enables South Korea’s Samsung Heavy Industries (SHI) to build two very large ethane carriers (VLECs).
MOL and ONGC have established two joint ventures, Bharat Ethane One IFSC Private and Bharat Ethane Two IFSC Private, which signed a 15-year charter contract with India’s state-owned oil and gas player for two newbuilding VLECs.
The 100,000-cubic-meter very large ethane carriers will be equipped with dual-fuel main engines capable of burning ethane as fuel. These vessels are scheduled for construction at Samsung Heavy Industries Geoje Shipyard.
The VLECs’ delivery is slated for late 2028 or later, after which the vessels will be engaged in transporting liquefied ethane from the U.S. to India to
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MOL-ONGC deal puts Samsung Heavy Industries on very large ethane carrier pair construction duty
MOL-ONGC deal puts Samsung Heavy Industries on very large ethane carrier pair construction duty
