High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
TOKYO- Mitsui O.S.K. Lines, Ltd. (MOL) today announced that the company was selected to transport liquefied natural gas (LNG) to a floating storage and regasification unit (FSRU) operated by PT Nusantara Regas off Jakarta.
The project marks Indonesia’s first domestic transport of LNG. It will ship up to 3 million tons of LNG from Bontang and other Indonesian ports. It is also MOL’s first offshore business in Indonesia.
MOL established a joint venture with Indonesian ocean shipping company PT Trada Maritime Tbk which owns and operates the LNG carrier LNG Aquarius. Operation is scheduled to start in late January, 2012, and the transport contract runs through the end of 2022.
Coastal transport of LNG is a new business model for Indonesia, where domestic demand for natural gas is increasing. MOL takes a proactive stance in providing LNG transport services that precisely meet customer needs.
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