MOL and Reliance ink agreement to co-own six VLECs

At present, the six VLECs are fully owned by Reliance Ethane.

The six VLECs were delivered in 2016-2017 and have been engaged in the transportation of liquefied ethane from Houston to Reliance facilities at Dahej in the west coast of India.

MOL has been involved right at the start from shipbuilding supervision stage to the operation of the VLECs.

The Japanese carrier said it has operated the VLECs safely over the past two and a half years before entering into this co-owning agreement with Reliance.

The six 87,000 cu m VLECs, all Marshall Islands-flagged and built at Samsung Heavy Industries, are the Ethane Crystal, Ethane Emerald, Ethane Opal, Ethane Pearl, Ethane Sapphire, and Ethane Topaz.

MOL highlighted that it is the first ever Japanese shipping company to own large VLECs.

Prior to this ship co-owning agreement, MOL and Reliance Industries have cooperated in the transportation of crude oil on VLCCs.