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22 January 2022 The on-line newspaper devoted to the world of transports 03:51 GMT+1



December 16, 2021

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Vopak enters the shipowning business in a joint venture with the MOL

The two partners will operate the FSRU "MOL FSRU Challenger"

The Dutch Vopak, a leading international group in the sector of the storage of liquid bulk and gas, made its entrance in the shipowning business by entering into an agreement to acquire the 49.99% of the capital of a new company that will own a Floating Storage and Regasification Unit (FSRU). The rest share of capital will be held by the shipowning group Japanese Mitsui O.S.K. Lines (MOL). The regasification plant float MOL FSRU Challenger, whose name will be changed to Bauhinia Spirit,will be operated in Hong Kong by both partners under a long-term contract whereas the joint venture has signed with Hong Kong LNG Terminal Ltd., joint venture owned by the utilities Castle Peak Power Co. and The Hong Kong Electric Co.\r

The FSRU, which is 345 meters long and 55 meters wide and is was built in 2017, has a storage capacity of 263 thousand cubic meters.

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