Japan's MOL to acquire full ownership of LNG Rose Shipping Corporation
Japanese shipping company Mitsui O.S.K. Lines (MOL) announced on June 28 that it will acquire an additional 50% stake in LNG Rose Shipping Corporation from Itochu Corp. MOL already owns 50% of Rose Shipping and post-deal, it will become a wholly-owned subsidiary of MOL.
Marshall Islands-based Rose Shipping was established in December 2014 as a joint venture between MOL and Itochu Corp to own LNG carriers and execute time charters. “We hereby plan to strengthen the LNG carrier business and came to a decision to acquire all shares in LNG Rose Shipping Corporation,” MOL stated.
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The MOL Group has demonstrated its commitment to sustainability through the establishment of the MOL Group Environmental Vision 2.2, which includes the goal of achieving net-zero greenhouse gas (GHG) emissions by 2050. To realise this vision, MOL plans to deliver 90 LNG/methanol-fuelled vessels by 2030. Currently, MOL has committed to deploying 33 LNG-fuelled ocean-going vessels.