MOL and Singapore banking on LNG
Pavilion Gas (PGPL) and the Japanese carrier MOL have signed a long-term charter contract. According to the pact, MOL will operate Asia’s hitherto largest (12,000 cbm class) LNG bunkering vessel in Singapore. Demand for LNG as bunker fuel is expected to grow on a global scale, as stricter SOx regulations take effect in January 2020.
Singapore’s Maritime and Port Authority (MPA) is focusing considerable effort on development of an LNG fuel supply infrastructure. The new ship will be the second LNG bunkering vessel in Singapore and is slated to start services after its delivery to PGPL in early 2021.
MOL established its bunker business division in April 2017, in order to enter the bunker business in an integrated fashion and to accelerate activities related to alternative bunker fuels such as LNG. (kd)