MOL Doubles Down on Dual-Fuel VLECs: A Game-Changer for Ethane Transport
In a bold move that underscores its commitment to innovation and sustainability, MOL Energia, the energy-focused arm of Japanese shipping giant Mitsui O.S.K. Lines (MOL), has just inked a deal for two cutting-edge very large ethane carriers (VLECs). These next-gen vessels, equipped with dual-fuel propulsion engines, are set to revolutionize the transport of ethane—a critical feedstock for petrochemical production. The order, placed with South Korean shipbuilding powerhouse Samsung Heavy Industries, is part of a long-term charter agreement with Thailand’s SCG Chemicals (SCGC).
This isn’t MOL’s first rodeo in the VLEC arena. The company has been steadily building its fleet since 2014, and with this latest contract, it’s doubling down on its leadership in the liquefied ethane transport market. The two new VLECs, each boasting a massive 100,000 cubic meter capacity, are slated for delivery in 2028. They’ll join MOL’s existing fleet of five dedicated ethane carriers, all serving SCGC’s petrochemical operations in Vietnam. Together, these vessels will form a high-tech logistics backbone, shuttling ethane from the U.S. to Vietnam for the next 15 years.
Dual-Fuel Tech: The Future of Maritime Sustainability
What sets these VLECs apart is their dual-fuel propulsion system—a game-changer in the shipping industry’s quest for greener operations. By running on ethane, a cleaner-burning fuel compared to traditional marine fuels, these vessels are not only reducing emissions but also future-proofing MOL’s fleet against tightening environmental regulations. It’s a win-win for both the planet and the bottom line.
MOL’s investment in dual-fuel tech is part of a broader trend in the maritime sector, where companies are racing to adopt sustainable solutions. With approximately 90 dedicated ethane carriers currently in service or on order worldwide, MOL’s fleet of 14 VLECs positions it as a dominant player in this niche but rapidly growing market. The company’s decades of experience in transporting liquefied gases, including LNG, give it a competitive edge in delivering safe, reliable, and eco-friendly shipping services.
Why This Deal Matters for the Petrochemical Industry
For SCGC, this partnership with MOL is a strategic masterstroke. By securing a steady supply of ethane from the U.S., the Thai petrochemical giant is ensuring the long-term viability of its operations in Vietnam. Ethane is a key ingredient in producing ethylene, a building block for plastics and other essential materials. With global demand for petrochemicals on the rise, SCGC’s ability to efficiently transport ethane across oceans will be a critical factor in maintaining its competitive edge.
MOL’s track record in the VLEC space is nothing short of impressive. The company made headlines in 2016 with the delivery of the *Ethane Crystal*, widely regarded as the world’s first VLEC. Since then, it has continued to push the envelope, leveraging advanced safety systems and operational expertise to meet the growing demand for ethane transport. This latest deal is a testament to MOL’s vision and its ability to stay ahead of the curve in a rapidly evolving industry.
As the maritime and petrochemical sectors continue to converge, partnerships like this one between MOL and SCGC are setting the stage for a more sustainable and efficient future. With dual-fuel VLECs leading the charge, the shipping industry is proving that innovation and environmental responsibility can go hand in hand.
