Mitsui O.S.K. Lines (MOL) has acquired a 25% stake in V.Ships France as part of an expanded partnership that will see the ship management company assume full technical management of two newbuild LNG carriers owned by the Japanese shipping group.

The investment will be made through MOL’s subsidiary MOL Euro Energie SAS, while V.Ships will retain the remaining 75% shareholding in its French operation.

The agreement builds on a long-standing relationship between the two companies. V.Ships France already manages several vessels for MOL, including a fleet of LNG bunker vessels.

Under the new arrangement, V.Ships France will take full technical management responsibility for two of MOL’s new LNG carriers. The vessels will also have access to V.Group’s digital marine platform ShipSure, as well as the company’s crew pool and technical services.

Robert Desai, CEO, V.Ships, said: “MOL is an important partner to V.Ships France and V. as a whole. We are delighted to embark on this expanded, long-term partnership, which sees MOL becoming our equity partner in one of the Group’s highly specialised companies.

“V.Ships France has long been renowned for its expertise in LNG and advanced dual fuel ships, and this agreement reflects the confidence MOL has placed in that capability.”

Jun Kanda, MOL Euro Energie SAS, commented: “This expanded partnership, including our equity investment in V.Ships France, reflects the depth of confidence we have in their team and their capabilities. As we continue to grow our LNG fleet, having a ship management partner with this calibre of specialist knowledge and the backing of V.’s wider resources is of real strategic value to our organisation.”

V.Ships France will continue to operate from its base in Nantes with no changes to its existing team or operations.

V.Group manages approximately 3,500 vessels globally and provides a range of services, including technical ship management, crew management, procurement and digital solutions for the maritime sector.

MOL operates a fleet of more than 900 vessels, including dry cargo ships, LNG carriers, car carriers and tankers.