MOL and Gulf LPG in pool tie-up

Mitsui O.S.K. Lines has teamed up with the Gulf LPG of Qatar to form a new very large gas carrier (VLGC) pool that will trade under the name LPG Global Transport. The pool will begin operations immediately.

Both MOL and Gulf LPG have jointly incorporated LPG Global Transport Management Inc. to manage the pool’s business operations. Both companies are bullish about the future expansion of global LPG seaborne trade, especially from Qatar. LPG Global Transport will be able to offer enhanced services to LPG charterers and create efficiencies by optimising voyage costs through efficient deployment of the combined fleet.

To serve its worldwide customers in the most flexible, economical, and reliable manner, LPG Global Transport will build and expand its fleet. Gulf LPG will add one new building in March 2009 while MOL will add seven new buildings to be delivered during the second half of 2009 and the first half of 2010 to LPG Global Transport.