MOL to order three more VLCCs

Mitsui O.S.K. Lines in Japan revealed its plan to order three more double-hull VLCCs. In May this year MOL ordered six 300,000DWT double hull VLCCs from Mitsui Engineering & Shipbuilding, Kawasaki Shipbuilding and Mitsubishi Heavy Industries with deliveries slated for 2004 and 2005. MOL now plans to replace all VLCCs with double-hull vessels by 2006, two years earlier than its initial target of 2008.

The three additional VLCCs orders will be placed with the same three shipyards with deliveries scheduled between June and October 2006. MOL said that this move reflects one of the major strategies of the company?s mid-ter