MOL Wins Newbuilding Project from AMPCO

February 19, 2014

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that company has received a newbuilding charter contract for two methanol carriers from Atlantic Methanol Production Company LLC (AMPCO; President: Paul Moschell) based on an offer tendered in 2013. The vessels will be built at Minaminippon Shipbuilding Co., Ltd. (President: Kotaro Ikebe) and engaged in methanol transport for AMPCO.

The ships will operate under a long-term charter and the new contract will play a vital role in MOL's strategy of strengthening long-term business.

AMPCO, based in Equatorial Guinea, is a leading methanol producer, and the new vessels are expected to serve on trades from Equatorial Guinea to various ports in Europe and the United States. Backed by expanding global demand for methanol, MOL will continue expanding its services to meet the needs of a wide variety of customers by leveraging its accumulated experience and know-how as one of the world's largest methanol carriers.

About AMPCO
Atlantic Methanol Production Company LLC (AMPCO) operates one of the largest and lowest-cost methanol plants in the world. AMPCO is located in Equatorial Guinea, West Africa, and has been producing chemical-grade methanol from natural gas produced off of Bioko Island since 2001.