Mitsui OSK Lines Adds Six VLECs to Fleet

Japan's Mitsui OSK Lines Ltd. will add six very large ethane carriers (VLECs) to its fleet through an investment deal with Reliance Industries Ltd, the Indian conglomerate said on Wednesday.

Mitsui OSK, which has a fleet of more than 850 vessels, and a minority investor signed an agreement to buy stakes in six special purpose companies of Reliance Industries which own a VLEC each. Given Mitsui OSK is currently the operator of all the six VLECs, the investment will ensure continued safe and efficient operations of these carriers, Reliance Industries said.