Mitsui O.S.K. Lines
  • About MOL

    About MOL

    About MOL Top

    • Corporate Profile
    • Corporate Mission
    • Directors, Auditors and Executive Officers
    • Organization
    • History
    • Location
    • MOL Group
    • Corporate Brochure/Video

  • MOL Services

    MOL Services

    MOL Services Top

    • Dry Bulk Transport Dry Bulkers
    • Energy Transport Tankers
    • Energy Transport Wind Power Energy Business
    • Energy Transport LNG Carriers
    • Energy Transport Offshore Business
    • Product Transport Car Carriers
    • Product Transport Ferries and Coastal RoRo Vessels
    • Product Transport Containerships
    • Product Transport Terminal
    • Product Transport Logistics
    • Associated Businesses Cruise Ship
    • Associated Businesses Tugboat

  • Sustainability

    Sustainability

    Sustainability Top

    • Sustainability Management
      • Sustainability Issues (Materiality)
      • Sustainable Finance
    • Safety & Value (Provide added value through safe transportation and the social infrastructure business)
      • Fundamental Policy of Safe Operation
      • Organization to support Safe Operation
      • Cultivating a Safety Culture
      • Initiatives and Activities to support Safety
      • Facilities, Equipment and ICT that Support Safe Operation
    • Environment (Conservation for Marine and global environment)
      • MOL Group Environmental Policy Statement
      • MOL Group Environmental Vision 2.1
      • Environmental Management System
      • Regulations
      • Climate Change Countermeasures
      • Information Disclosure based on TCFD Recommendations
      • Preservation of marine environments / Protection of biodiversity
      • Prevention of Air Pollution
    • Human & Community (Contributing to the growth and development of people and communities)
      • MOL CHARTS: Expressing the MOL Group's Shared Values
      • Human Resources Development
      • Securing and training seafarers
      • Workstyle Reforms
      • Promotion of Diversity and Inclusion
      • Health and Productivity Management
      • Stakeholder Engagement
      • Corporate Culture Assessment
      • Social Contribution Activities
    • Innovation (Innovation for development in marine technolog)
      • Organizational Structure to Promote Technological Innovation
      • Technological Innovation - MOL's Projects
      • Tracking MOL's Ship Technologies
      • ICT Strategy
    • Governance (Governance and compliance to support businesses)
      • Corporate Governance
      • Risk Management
      • Compliance
      • Information Security
      • Responsible Procurement
      • Human Rights
    • External Recognition
    • Sustainability Data
    • GRI STANDARDS INDEX
    • MOL Report (to IR Library)
      Safety, Environmental and Social Report (Back Issues)

  • Investor Relations

    Investor Relations

    Investor Relations Top

    • Management Policy
      • Message from the CEO
      • Management Plan
      • IR Policies
      • Risk Management
    • Financial Information
      • Latest Financial Results
      • Financial Data
    • IR Library
      • IR News
      • Financial Highlights
      • Business Performance
      • Investor Guidebook
      • Market Data
      • Investors Meeting
      • MOL Report
      • Business Report
      • Financial Statements
    • Share & Corporate Bond
      • General Share Information
      • Dividends
      • General Meeting of Shareholders
      • Articles of Incorporation
      • Corporate Bond & Ratings
      • Analyst Coverage
      • Share Price (Euroland)
    • IR Event Calendar
    • FAQ
    • Contact IR Office
    • IR Email Updates
    • Disclamer

  • Press Release
  • Contact Us
  • Service Site

JP

Close

Top Page > Press Release 2013 > MOL's Participation in China FOB Transportation Project

Japanese

MOL's Participation in China FOB Transportation Project

April 30, 2013

We are very pleased to announce that MOL has participated in both the ownership of six new LNG ships to be built in China by Hudong-Zhonghua Shipbuilding (Group) Co.,Ltd. (Hudong) and the associated ship-management agreements through the relevant joint ventures that are already formed in Hong Kong with MOL's participation stake of 20 % for each joint venture. The remaining 80 % stake is held for each entity by our Chinese partners, who are China Shipping (Group) Company and China Petroleum & Chemical Corporation (known as Sinopec).

All of the six new LNG ships are earmarked by way of long-term charters for Sinopec's FOB sale and purchase agreement of LNG with Australia Pacific LNG. They will be delivered to the owning joint ventures from early 2016 to late 2017. Total consideration for the construction of the six ships is approximately USD1.5billion. Long term limited recourse debt financing (approximately USD 1.2 billion) are secured for the six ships with a syndicate of banks with involvements of The Export-Import Bank of China, Industrial and Commercial Bank of China Limited, Bank of China Limited, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, LTD. and Mizuho Corporate Bank, LTD., advised by Sumitomo Mitsui Banking Corporation as Financial Advisor.

This is MOL's second big milestone in the emerging China LNG transportation sector after our participation in the ExxonMobil China project, where four new LNG ships are being built by Hudong with the first ship's delivery slated for early 2015. We take a high pride in this achievement, particularly in that

  • MOL's experience and expertise in LNG transportation has been accepted by our Chinese partners,
  • Good working relations between the two sides have contributed to the success of our participation in the project, and
  • MOL's LNG presence in this project will be enhanced for further cooperation.

With our participation in this project, the Chinese parties will set up a sound and solid base for the ship-management services for the six new LNG ships, including the provision of supervision services during the ship-construction period. MOL's (five) technical experts are already stationed in Shanghai to work together with our Chinese partners for various preparations for this particular project that are required to ensure the construction of quality LNG ships in a safe manner.

Our good partnership with the Chinese partners will not only remain unchanged but also will be further strengthened for our mutual benefit to overcome any difficulties that may arise in the future. MOL is fully committed to assist the Chinese partners to make this ambitious project a success.

  • Press Release
    • 2022
    • 2021
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
  • About MOL
  • Corporate Profile
  • Corporate Mission
  • Directors, Auditors and Executive Officers
  • Organization
  • History
  • Location
  • MOL Group
  • Corporate Brochure/Video
  • MOL Services
  • Dry Bulkers
  • Tankers
  • Wind Power Energy Business
  • LNG Carriers
  • Offshore Business
  • Car Carriers
  • Ferries and Coastal RoRo Vessels
  • Containerships
  • Terminal
  • Logistics
  • Cruise Ship
  • Tugboat
  • Sustainability
  • Sustainability Management
  • Safety & Value
  • Environment
  • Human & Community
  • Innovation
  • Governance
  • External Recognition
  • Sustainability Data
  • GRI STANDARDS INDEX
  • MOL Report (to IR Library)
    Safety, Environmental and Social Report (Back Issues)
  • Investor Relations
  • Management Policy
  • Financial Information
  • IR Library
  • Share & Corporate Bond
  • IR Event Calendar
  • FAQ
  • Contact IR Office
  • IR Email Updates
  • Disclamer

Press Release

Contact Us

  • Privacy Protection Policies
  • Terms of Use
  • Sitemap

Copyright 1997- © Mitsui O.S.K.Lines All rights reserved.

PAGE TOP