MOL and Kansai Electric announced for an agreement to own together LNG ships

By Finance

Mitsui O.S.K. Lines has informed for a deal with Kansai Electric Power. The agreement between the two sides is for owning 2 newbuilding LNG carriers. The 2 ships will be operational under a contract signed more than a year ago.

Kansai Electric Power will have the bigger share - 70 per cent in the MOL subsidiary located in the Bahamas and will have control over the 2 new LNG carriers. Mol in other hand agreed to own only 30% of the share.
The deal between the two companies Mitsui O.S.K. Lines and Kansai Electric Power will jointly operate the 2 vessels and total will have available 3 ships if the LNG Ebisu (delivered in Sep. 2008) is considered.

The design of the first vessel is a project of Kawasaki Heavy Industries and the type of vessel is a "Moss" carrier with capacity equal to 164,700m3. This ship is planned to be the biggest of its class that will be capable to pass through the planned expansion of the Panama Canal that is expected to be finished in 2014.
The hull of this type of ship will allow the ship to visit important LNG terminals around the world.

The other ship has cargo tank capacity of 155,300m3 and is part of the Sayaendo series carriers. The special thing of this type of vessels is the continuous cover
over its spherical tanks.


Hull Type
Hull MaterialSTEEL
Decks Number
Serv. Speed (kn)19.5
TypeTanker (HAZ-A)
Size289 x 49 m
Draught9.9 m