Japan’s MOL targets Southeast Asia for FSRU market growth in International Shipping News 09/05/2026 Japan’s shipping company Mitsui O.S.K. Lines sees Southeast Asia as an important focus market for floating storage and regasification units, Hideyuki Irisawa, an executive officer at the company, told Platts, part of S&P Global Energy, in an exclusive interview on April 30. Irisawa is an executive officer of Mitsui O.S.K. Lines. He is also secondary responsible for the Southeast Asia and Oceania Region (Business) and deputy managing director of MOL (Asia Oceania) Pte Ltd. “The FSRU business represents a priority area for MOL as part of our broader LNG infrastructure strategy,” Irisawa said. “We see Southeast Asia as an important focus market, and within the region, Malaysia and Vietnam in particular offer strong potential, given their growing demand for flexible LNG import solutions.” “MOL is in a unique position in the shipping industry as it owns FSRUs,” Irisawa said. “MOL has already accumulated operational experience through the deployment and management of multiple FSRUs. This track record is a key strength for us and enables us to differentiate ourselves from shipping companies that lack hands-on involvement across the LNG value chain.” MOL started commercial operations of the Jawa Satu FSRU for the Jawa 1 LNG-fired power plant in Indonesia in March 2024, according to its press release. In October 2024, MOL announced that the company had agreed with Singapore LNG Corp. on a long-term time charter contract for one newbuilding FSRU. The FSRU is expected to start operation in 2029, Irisawa said. “Traditional shipping segments such as dry bulk and tankers are inherently exposed to market volatility. By combining these businesses with relatively stable, project-based activities such as FSRUs, we aim to enhance the overall resilience and earnings stability of our portfolio,” he added. LNG transition fuel pathway MOL considers LNG bunker as a bridge fuel, not a lon