Doha, 11 Dec. 2024
QatarEnergy has selected the joint venture of Japan’s Mitsui O.S.K Lines Ltd. (MOL) and China’s COSCO Shipping LNG Investment (Shanghai) Co. Ltd. (CSLNG) to own and operate 6 QC-Max size LNG vessels.
The 6 vessels will be built in China by Hudong-Zhonghua Shipbuilding Group, a subsidiary of China State Shipbuilding Corporation (CSSC). These vessels are the last batch of the 128 LNG vessels in QatarEnergy’s historic ship building program, made up of 104 conventional and 24 QC-Max size ultra-modern vessels.
Thelong-term Time Charter Party (TCP) agreements were awarded to the shipowners during a special ceremony held at QatarEnergy’s headquarters in Doha.
The signing ceremony attended by Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy; Takeshi Hashimoto, President & Chief Executive Officer of MOL, and Zhang Feng, Vice President of China COSCO Shipping Corporation (the parent company of CSLNG).
Present on the occasion were senior executives from both shipowners; QatarEnergy and QatarEnergy LNG.
Saad Sherida Al-Kaabi commented that 'This is the last batch of long-term shipowner contracts in our 128-vessel strong historic shipbuilding program that will cater for QatarEnergy’s future LNG fleet requirements for our LNG expansion projects, as well as the replacement requirements of some of our existing fleet'.
Al-Kaabi added: ' We are proud to have forged very important partnerships and business relations with many companies and joint ventures including today’s new partnership with MOL and COSCO Shipping'.
The MOL-CSLNG joint venture has already entered long-term TCP agreements with QatarEnergy for 7 conventional LNG vessels, executed in 2022, giving the joint venture a total of 13 long-term TCPs under QatarEnergy’s LNG fleet expansion program.
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Well, This achievement highlights Qatar Energy's commitment to innovation and global collaboration in advancing the LNG industry. Partnering with leading companies like MOL and COSCO Shipping underscores the strength of strategic alliances in supporting QatarEnergy’s ambitious expansion and sustainability goals. Completing the 128-vessel shipbuilding program is a remarkable milestone, reflecting exceptional planning and execution to meet growing energy demands.