June 28, 2023
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it has entered into a lease agreement for three new LNG carriers under construction at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. with Bank of Communications Financial Leasing Co., Ltd. (BOCOM Leasing) through a joint venture with COSCO SHIPPING LNG Investment (Shanghai) Co., Ltd., CNOOC Gas and Power Singapore Trading & Marketing Pte. Ltd., and CETS Investment Management (HK) Co., Limited. BOCOM Leasing is a subsidiary of Bank of Communications Co., Ltd. and the largest leasing company in China, and this marks MOL’s first contract with a Chinese leasing company.
In the "Regional Strategy" of the "BLUE ACTION 2035" management plan, MOL sets its sights on expanding business in emerging markets, including China. This lease agreement was achieved with a local financial institution in collaboration with a Chinese partner, in line with MOL's regional strategy. Through these initiatives, MOL will expand its funding sources and diversify its funding methods to strengthen its competitiveness, and it aims to realize a "regional strategy" while increasing its presence in China and other Asian markets.
MOL Group 5 Sustainability Issues
MOL Group will contribute to realizing a sustainable society by promoting responses to sustainability issues, which are identified as social issues that must be addressed as priorities through its business.