MOL signs long-term contract for LNG bunkering vessel with Pavilion Gas
JAPANESE shipping giant Mitsui OSK Line (MOL) has signed a long-term charter contract to operate Asia's largest (12,000m3-class) LNG bunkering vessel in Singapore with Pavilion Gas, a subsidiary of Pavilion Energy Pte Ltd
JAPANESE shipping giant Mitsui OSK Line (MOL) has signed a long-term charter contract to operate Asia's largest (12,000m3-class) LNG bunkering vessel in Singapore with Pavilion Gas, a subsidiary of Pavilion Energy Pte Ltd.
To speed progress in LNG, MOL has also established the Bunker Business Division and signed another long-term charter contract in Europe for the world's largest (18,600m3-class) LNG bunker vessel with Total Marine Fuels Global Solutions.
Demand for LNG as bunker fuel is expected to grow on a global scale as stricter SOx regulations take effect in January 2020.
Singapore's Maritime and Port Authority (MPA) is focusing considerable effort on development of an LNG fuel supply infrastructure and implementing policies aimed at creating the world's largest LNG fuel supply port.
The Japanese government also concluded a 'memorandum of understanding in relation to the cooperation on the development of LNG as a marine fuel' with seven other countries, including Singapore.
Since then the Japanese government has worked closely with Singapore to promote the use of LNG fuel and develop a supply framework.
MOL has also joined Sembcorp Marine Specialised Shipbuilding Pte Ltd, a subsidiary of Singapore-based Sembcorp Marine Group, for construction of the vessels, and Sinanju Tankers Pte Ltd.
These are major bunker barge concerns. A new ship will be the second LNG bunkering vessel in Singapore to offer services in early 2021.
This will offer services in northern Europe. In Japan, it will launch the LNG-fuelled tugboat Ishin in Osaka Bay in April. MOL continually promotes development of infrastructure to supply LNG fuel and drives LNG fuelled vessels.