Mitsui O.S.K. Lines, Ltd. (MOL) has announced the signing of a long-term charter contract for a newbuilding LNG carrier with INPEX Shipping Co., Ltd., a wholly owned subsidiary of INPEX Corporation (INPEX), through its wholly owned subsidiary MOL Encean Pte. Ltd.

This is the first LNG carrier to sail under a long-term charter contract with the INPEX Group, equipped with technologies designed to reduce environmental impact.

The naming ceremony was held at Hanwha Ocean Co., Ltd.’s Geoje Shipyard in South Korea where the vessel was named the Harmonic Breeze. 

After delivery, the vessel will contribute to the stable transportation of LNG and INPEX’s reliable energy supply. 

In addition, the vessel is equipped with an Air Lubrication System and a Shaft Generator as environmental impact reduction systems, and is designed to achieve superior fuel efficiency and reduced GHG emissions compared to conventional LNG carriers. 

MOL noted that based on the management plan “BLUE ACTION 2035,” the Group is driving forward a portfolio transformation aimed at increasing the proportion of its stable revenue businesses. 

This project will help transform the group’s earnings foundation, reducing susceptibility to fluctuations in the shipping market—by further expanding its LNG carrier fleet, which is among the largest in the world, and steadily securing long-term charter contracts. 

MOL said it will strive to further deepen and develop its partnership with INPEX, while working to expand its low-carbon and decarbonization businesses as outlined in the “Environmental Vision -BLUE ACTION 2035 Phase 2.”