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.
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.