MOL and QatarEnergy Sign Long-term Time Charter of Six Newbuilding LNG Carriers
- Expanding the World's Largest LNG Fleet -

December 13, 2024

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto, Headquarters: Minato-ku, Tokyo) today announced that it entered into a long-term time charter contract of six "QC-MAX", 271,000m³, LNG carriers with QatarEnergy on December 12. The vessels will be built at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China, for delivery between 2028 and 2031, and be jointly owned with COSCO SHIPPING LNG Investment (Shanghai) Co., Ltd.

(From left: Mr. Takeshi Hashimoto, President & CEO of MOL,
His Excellency Mr. Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs and President & CEO of QatarEnergy,
Mr. Zhang Feng, Vice President of COSCO SHIPPING Group)

MOL as one of the world's largest owners of LNG carriers, since the mid-1990s, has expanded and strengthened the relationship with QatarEnergy through its global LNG transportation. MOL's track record in LNG transportation and commitment in safe navigation have led to the successful conclusion of this contract. This contract will further increase the awarded vessels to MOL under the historic shipping expansion program for the North Field Expansion Project to 13 vessels.

QC-MAX is a state-of-the-art LNG carrier with latest technologies enabling excellent environmental performance. Addressing environmental issues in line with the "MOL Group Environmental Vision 2.2", the group implements comprehensive, ongoing efforts to achieve sustainable net zero GHG emission and contribute to the realization of a low- and decarbonized society.

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MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision. We anticipate this initiative to contribute especially to the realization of "Safety & Value -Provide added value through safe transportation and our social infrastructure business- ", "Environment -Conservation for Marine and global environment-" and "Innovation -Innovation for development in marine technology-".