Japan’s Mitsui O.S.K. Lines, Ltd. (MOL) continues to increase its order book for liquefied natural gas (LNG)-dual fuel Very Large Crude Carriers (VLCCs).
MOL has signed a contract with Dalian COSCO KHI Ship Engineering Co Ltd. (DACKS) for the construction of two 309,000 dwt LNG dual-fuel VLCCs with a total order value of about $300 million, shipbroking sources said. The new buildings are expected to be delivered between the third quarter of 2027 and the first quarter of 2028.
MOL owns more than 20 VLCCs in terms of deadweight tons. Together with the latest order, there are six more newbuildings to be delivered by DACKS between 2025 and 2028.
In August 2022, MOL ordered two 309,000 dwt LNG dual-fuel VLCCs from DACKS, becoming the first Japanese owner to order LNG dual-fuel VLCCs, which are expected to be delivered between 2025 and 2026. with this order, DACKS became the second shipyard in China and the fourth in the world to build dual-fuel VLCCs.
Six months later (February 2023), MOL returned to DACKS to place an additional order for two VLCCs of the same type, which was not publicized until July 2023, with deliveries scheduled for July and December 2026, with a total value of approximately $260 million.
This LNG dual-fuel VLCC has an overall length of about 339.5 meters and a beam of about 60 meters with a 309,000 deadweight tons. It meets the requirements of the third phase of the Ship Energy Efficiency Design Index (EEDI) and is equipped with a dual-fuel main engine capable of using LNG and low-sulfur fuel oil.
Compared with conventionally powered ships, it can reduce CO2 emissions by about 25-30%, SOx emissions by about 100% and NOx emissions by about 85% when using LNG fuel.
