Business Standard

A COMMERCIAL FEATURE

What's this ?

Commercial Feature is a Business Standard Digital Marketing Initiative.

The Editorial/Content team at Business Standard has not contributed to writing or editing these articles.

For further information, please write to assist@bsmail.in

Reliance ropes in Mitsui to ship ethane from US to India

RIL, with this strategic tie-up with Mitsui O S K Lines Ltd (MOL), has achieved a key milestone for the successful implementation of ethane import project to feed crackers in India

BS B2B Bureau  |  Mumbai 

Reliance's on-going refinery project at Jamnagar

Reliance Industries Ltd (RIL) has signed shipping agreements with one of the world’s largest shipping companies Mitsui O S K Lines Ltd (MOL) for transporting liquefied ethane from the US to India. This will make MOL to be the first shipping company who is dedicated for a continuous liquefied ethane transportation by very large ethane carrier (VLEC).
 
MOL will supervise the construction of six VLECs, ordered by Reliance Industries to be specifically built by Samsung Heavy Industries Co Ltd. Six VLECs are expected to be delivered in the last quarter of 2016 and will enter into service thereafter. Mitsui will also operate and manage the vessels after they are built and delivered.
 
RIL, with this strategic tie-up with Mitsui, has achieved a key milestone for the successful implementation of ethane import project to feed crackers in India.
 
“While MOL declared in New Midterm Management Plan ‘Steer for 2020’ a direction to allocate management resources earlier and significantly to businesses where we expect high growth and stable long-term profits taking advantage of the shale revolution, this strategic association has been concluded definitely in line with this direction,” said MOL in a press release.
 
VLECs, being a hybrid of LNG carrier and LPG carrier, required the expertise in both the LNG carriers and LPG carriers. Considering MOL’s rich experience for both type of carriers it is in better position to leverage on its existing capabilities to tap this new opportunity.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, December 26 2014. 10:11 IST
RECOMMENDED FOR YOU

Reliance ropes in Mitsui to ship ethane from US to India

RIL, with this strategic tie-up with Mitsui O S K Lines Ltd (MOL), has achieved a key milestone for the successful implementation of ethane import project to feed crackers in India

RIL, with this strategic tie-up with Mitsui O S K Lines Ltd (MOL), has achieved a key milestone for the successful implementation of ethane import project to feed crackers in India Reliance Industries Ltd (RIL) has signed shipping agreements with one of the world’s largest shipping companies Mitsui O S K Lines Ltd (MOL) for transporting liquefied ethane from the US to India. This will make MOL to be the first shipping company who is dedicated for a continuous liquefied ethane transportation by very large ethane carrier (VLEC).
 
MOL will supervise the construction of six VLECs, ordered by Reliance Industries to be specifically built by Samsung Heavy Industries Co Ltd. Six VLECs are expected to be delivered in the last quarter of 2016 and will enter into service thereafter. Mitsui will also operate and manage the vessels after they are built and delivered.
 
RIL, with this strategic tie-up with Mitsui, has achieved a key milestone for the successful implementation of ethane import project to feed crackers in India.
 
“While MOL declared in New Midterm Management Plan ‘Steer for 2020’ a direction to allocate management resources earlier and significantly to businesses where we expect high growth and stable long-term profits taking advantage of the shale revolution, this strategic association has been concluded definitely in line with this direction,” said MOL in a press release.
 
VLECs, being a hybrid of LNG carrier and LPG carrier, required the expertise in both the LNG carriers and LPG carriers. Considering MOL’s rich experience for both type of carriers it is in better position to leverage on its existing capabilities to tap this new opportunity.
image
Business Standard
177 22

Reliance ropes in Mitsui to ship ethane from US to India

RIL, with this strategic tie-up with Mitsui O S K Lines Ltd (MOL), has achieved a key milestone for the successful implementation of ethane import project to feed crackers in India

Reliance Industries Ltd (RIL) has signed shipping agreements with one of the world’s largest shipping companies Mitsui O S K Lines Ltd (MOL) for transporting liquefied ethane from the US to India. This will make MOL to be the first shipping company who is dedicated for a continuous liquefied ethane transportation by very large ethane carrier (VLEC).
 
MOL will supervise the construction of six VLECs, ordered by Reliance Industries to be specifically built by Samsung Heavy Industries Co Ltd. Six VLECs are expected to be delivered in the last quarter of 2016 and will enter into service thereafter. Mitsui will also operate and manage the vessels after they are built and delivered.
 
RIL, with this strategic tie-up with Mitsui, has achieved a key milestone for the successful implementation of ethane import project to feed crackers in India.
 
“While MOL declared in New Midterm Management Plan ‘Steer for 2020’ a direction to allocate management resources earlier and significantly to businesses where we expect high growth and stable long-term profits taking advantage of the shale revolution, this strategic association has been concluded definitely in line with this direction,” said MOL in a press release.
 
VLECs, being a hybrid of LNG carrier and LPG carrier, required the expertise in both the LNG carriers and LPG carriers. Considering MOL’s rich experience for both type of carriers it is in better position to leverage on its existing capabilities to tap this new opportunity.

image
Business Standard
177 22