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Monday, December 7, 2020 

Mitsui OSK Lines (MOL) has concluded long-term charter contracts for two methanol-fuelled, methanol carriers with Waterfront Shipping Company.

The vessels will be equipped with dual-fuel engines that can run on environment-friendly methanol or conventional fuel oil. They are slated for delivery at Hyundai Mipo Shipyard (South Korea) in 2021 and 2023 and will transport methanol for WFS.

MOL owns three methanol carriers equipped with dual-fuel engines - the Taranaki Sun, which was delivered in 2016 and was the world's first methanol carrier with a methanol-fuelled engine, the Manchac Sun, and the Cajun Sun. All three vessels are under long-term charter contracts for WFS. The two new vessels will be MOL's fourth and fifth methanol-fuelled ships chartered to WFS, which makes MOL owners of one of the world's largest methanol-fuelled fleet. The new vessels will be managed by a MOL Group company, MOL Tankship Management of Singapore, which will leverage its experience and knowledge in the management of methanol-fuelled vessels to deliver performance and environmental benefits.

Methanol is an environmentally-friendly fuel and, compared to heavy oil, it significantly reduces nitrogen oxide (NOx) emissions and virtually eliminates emissions of SOx. The new vessels also conform to environmental regulations such as the IMO NOx Tier III requirements.

Leveraging its accumulated expertise as one of the world's largest methanol carrier owner/operators, MOL says it is working to further expand its methanol transport services by meeting a broad range of customer needs.

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