Looking to expand its fleet of LNG carriers, India’s large firm in the natural gas sector GAIL (India) Limited signed on Friday a long-term time charter contract with Kawasaki Kisen Kaisha, Ltd. (K Line) for a new-built LNG ship with a tank capacity of 1,74,000 cubic metres.
The deal was signed through the ship-owning company established in Singapore, GAIL said in a statement.
The LNG ship will be a modern two-stroke vessel and will be built by Samsung Heavy Industries Co. Ltd., Korea, with which the ship-owning company has concluded a shipbuilding contract.
The vessel is expected to start operations in 2027.
“This is the first long-term time charter contract between GAIL and “K” LINE involving a newly built vessel which is expected to be engaged in transportation of liquified natural gas (LNG) for GAIL in 2027,” GAIL (India) said.
GAIL currently has four LNG vessels, GAIL Bhuwan, GAIL Urja, Grace Emilia and Maran Gas Pericles, to transport natural gas in a super cooled form.
Two more ships are expected to join the fleet next year including one newbuilt vessel on long term charter.
