MOL and COSCO SHIPPING Energy Transportation Signs a Memorandum of Understanding
-facilitating further cooperation for upcoming LNG and Ethane projects-

August 07, 2019

On 6 August 2019, Mitsui O.S.K. Lines, Ltd. (MOL: President & CEO: Junichiro Ikeda) and COSCO SHIPPING Energy Transportation Co., Ltd. (CSET: President: Zhu Maijin), which is a subsidiary of China COSCO Shipping Corporation Limited, signed a Memorandum of Understanding ("MOU").

The MOU recognizes and further develops the joint cooperation between the two organizations, for future LNG carrier projects and Ethane carrier projects.

Over more than 10 years, MOL and CSET have established a strong and extensive partnership, which MOL and CSET jointly participate in various ongoing projects, namely the ExxonMobil DES Project*1, Australia Pacific LNG Project*2 and Yamal LNG Project*3.

At the same time, MOL and CSET are aiming to develop and deepen the partnership through the joint participation for the new opportunities of upcoming LNG and Ethane carrier projects.

Based on the solidified relationship through this MOU and accumulated history of cooperation over the decade, MOL and CSET, as mutual strategic partner to each other, continue to lead and contribute to the development of LNG and Ethane transportation industry.

*1 For details, please refer to the 3 March 2010 press release:
MOL Signs a Contract for Long-term Charters of LNG vessels by ExxonMobil

*2 For details, please refer to the 30 April 2013 press release:
MOL's Participation in China FOB Transportation Project

*3 For details, please refer to the 9 July 2014 press release:
MOL signs Ship Building Contracts with DSME for ice class carriers
and to the 29 June 2017 press release:
MOL Signs Long-term Charter Contract of 4 LNG Carriers for Russia Yamal LNG Project