The Japanese shipping firm revealed this in its results report on Thursday.
This is four fewer LNG carriers than in the previous quarter and compared to the end of March 2025.
According to the new report, MOL expects its LNG carrier fleet to reach 111 vessels by March 2027.
Last year, brokers reported that MOL sold its 2004-built 137,500-cbm steam LNG carrier, Dukhan, for scrap.
MOL’s fleet includes LNG carriers owned and/or operated by joint venture companies.
Additionally, MOL previously stated that it had approximately 30 LNG carriers on order.
As of March 31, 2026, MOL’s fleet included eight FSUs/FSRUs, three LNG bunkering vessels, one LNG powership, and six ethane carriers.
As part of its plans to reduce emissions, MOL has also set a target to operate 90 LNG-powered and methanol-fueled vessels by 2030.
“Stable” LNG profit
MOL reported revenue of 1,825 billion yen, an operating profit of 127 billion yen, an ordinary profit of 175.8 billion yen, and profit attributable to owners of parent of 213.2 billion yen in the fiscal year ending March 2026.
The company’s energy business, which includes the liquefied gas segment, reported revenue of 525.7 billion yen and profit of 55.5 billion yen.
Revenue rose 2.9 percent year-on-year, while profit decreased 45.6 percent.
MOL noted that from March onwards, market conditions “became unstable across all vessel types due to the deterioration of the situation in the Middle East.”
The company said its LNG and ethane carrier business “secured stable profit through existing long-term charter contracts.”
However, a one-time expense was recorded due to financing matters at an equity-method affiliate, resulting in a decrease in profit compared to the previous fiscal year, according to MOL.
The gas infrastructure business recorded a decrease in profit compared to the previous fiscal year, partly due to a “decline in operational efficiency caused by equipment malfunctions at certain projects,” MOL said.
MOL also provided an outlook for the LNG and ethane business.
“The LNG and ethane carrier business is expected to continue securing stable earnings,” the company said.
“The gas infrastructure business expects a decrease in profit due to the impact of operational conditions on certain projects,” MOL said.
