MOL Energia, a subsidiary of Japan’s Mitsui O.S.K. Lines (MOL), has secured an order for two more very large ethane carriers (VLECs) to be dedicated to a long-term charter with Thailand’s SCG Chemicals (SCGC).
This latest contract follows a previous deal from January 24, 2025, and includes the construction of two 100,000 cubic meter VLECs, equipped with dual-fuel ethane propulsion systems. The vessels will be built by South Korea’s Samsung Heavy Industries and are slated for delivery in 2028.
With this new agreement, MOL Group will own a total of five newly built VLECs dedicated to transporting ethane for SCGC. These vessels will serve SCGC’s petrochemical plants in Vietnam, ensuring the supply of ethane needed for their operations.
As part of the deal, MOL will provide transportation services for ethane from the United States to Vietnam over the next 15 years. With this commitment, MOL’s fleet of VLECs will grow to 14 ships, making it one of the leading operators in the liquefied ethane carrier market, which includes around 90 vessels globally.
MOL emphasized that its extensive experience in transporting liquefied gases, such as LNG, combined with its advanced safety management systems, will continue to ensure reliable and secure shipping operations as demand for ethane transportation continues to rise.
Since entering the VLEC business in 2014, MOL has steadily built a strong reputation in ethane transport, including the delivery of Ethane Crystal in November 2016, which was widely regarded as the world’s first VLEC.