LNG newbuilding for Sakhalin

Mitsui O.S.K. Lines (MOL), Kawasaki Kisen Kaisha (“K” LINE), and Primorsk Shipping Corporation (PRISCO) concluded a 20-year charter contract for a newly built LNG carrier with Sakhalin Energy Investment Company. Sakhalin Energy is a joint venture of Shell with a 55% share, Mitsui 25% and Mitsubishi Corporation 20%.

At the same time, MOL, “K” LINE, and PRISCO concluded an agreement to build a new LNG carrier at the Mitsui?s Chiba shipyard for delivery in April 2008. The 147,000 cubic metre Moss type gas tanker will have a service speed of 19.5 knots and be build to Ice class specifications to enable navigation in ice floes up to 55 cms thick.

MOL will take responsibility for the management of the LNG carrier which will be manned by a Russian crew.