Japanese utility and LNG importer Jera has signed a time charter agreement for an LNG vessel with a shipping company affiliated with the Angelicoussis Group, the company said in a statement Wednesday.
The deal was signed by Jera’s subsidiary LNG Marine Transport Ltd and the construction of the LNG vessel will begin in 2020 at the South Korean shipyard Daewoo Shipbuilding & Marine Engineering, Jera said. The 174,000 cubic meter vessel will be managed by Maran Gas Maritime.
The time charter period of the LNG carrier will be about 12 years starting between October and December 2021, and the vessel will be used mainly for LNG transportation at LNG projects in Asia and Oceania, it added.
JERA, one of the largest LNG importers in the world, said it plans to increase its LNG fleet to 25 vessels by 2025 as its ratio of FOB contracts grow.
The Angelicoussis Group is one of the world’s largest shipping companies with 150 vessels across sectors, out of which 32 are LNG vessels.