Japan's MOL, China's Cosco Sign MoU

Japanese shipowner Mitsui OSK Lines (MOL) and Cosco Shipping Energy Transportation (CSET), which is a subsidiary of China Cosco Shipping Corporation, August 6 signed a memorandum of understanding to jointly work on LNG and ethane carrier projects, MOL said August 7

MOL said it has a strong partnership with CSET going back more than a decade. The two companies jointly participate in various ongoing projects, namely the ExxonMobil DES project, Australia Pacific LNG project and Yamal LNG project.

The Japanese firm said it is now looking to deepen the partnership through the joint participation for the new opportunities of upcoming LNG and ethane carrier projects.

“Based on the solidified relationship through this MoU and accumulated history of cooperation over the decade, MOL and CSET, as mutual strategic partner to each other, continue to lead and contribute to the development of LNG and ethane transportation industry,” it said.