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MOL, Mitsubishi Gas Chemical sign charter deal for dual-fuel methanol carrier

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Both signed a basic agreement for the long-term charter of a methanol carrier, which can run on either methanol or conventional heavy fuel oil; vessel to be built at Hyundai Mipo Dockyard.
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Mitsui O.S.K. Lines, Ltd. (MOL) on Friday (19 May) announced the signing of a basic agreement with Mitsubishi Gas Chemical Company, Inc. on 28 April 2023 for the long-term charter of a methanol carrier, which can run on either methanol or conventional heavy fuel oil. 

The vessel, slated for delivery in 2025, will be built at Hyundai Mipo Dockyard.

Since MOL delivered Japan’s first methanol carrier, the Kohzan Maru (first generation), to Mitsubishi Gas Chemical in 1983, the two companies have built a partnership centered on the ocean transportation of methanol. 

The vessel will be the first dual-fuel methanol carrier to sail under a long-term charter for a Japanese company, and with the signing of the basic agreement, the two companies aim to further expand their cooperative relationship.

 

Photo credit: Mitsui O.S.K. Lines, Ltd
Published: 22 May, 2023

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