Mitsui OSK Lines & GAIL (India) have signed a time charter contract for a newbuilding LNG carrier and a joint ownership of an existing LNG carrier. The new building vessel will be the second MOL Group LNG carrier serving GAIL; the parties signed a contract for the first vessel in 2019.The existing vessel still has been chartered to GAIL through a wholly owned MOL subsidiary from 2021 and even now, MOL's shipping service is highly regarded by GAIL. At this time, MOL and GAIL reached an agreement to share the vessel by transferring a portion of a wholly owned MOL subsidiary's shares to GAIL.By strengthening MOL and GAIL's partnership, there will be synergies that will make us to provide more reliable services, and this will lead us to extend our services even further against the demand that will grow in the future.
Mitsui OSK Lines & GAIL (India) have signed a time charter contract for a newbuilding LNG carrier and a joint ownership of an existing LNG carrier. The new building vessel will be the second MOL Group LNG carrier serving GAIL; the parties signed a contract for the first vessel in 2019.The existing vessel still has been chartered to GAIL through a wholly owned MOL subsidiary from 2021 and even now, MOL's shipping service is highly regarded by GAIL. At this time, MOL and GAIL reached an agreement to share the vessel by transferring a portion of a wholly owned MOL subsidiary's shares to GAIL.By strengthening MOL and GAIL's partnership, there will be synergies that will make us to provide more reliable services, and this will lead us to extend our services even further against the demand that will grow in the future.
