Execution of Time Charter Parties for two LNG Vessels2019/03/29
JERA Co., Inc. (“JERA”) is pleased to announce that through LNG Marine Transport Limited (“LMT”), a subsidiary of JERA, it has concluded time charter parties for two LNG vessels with ship owning companies under GasLog Ltd. and Angelicoussis Group, respectively.
Both vessels are currently under construction at shipyards in Korea. The charter period for each vessel is 12 years firm starting from around 2020, and the vessels will be utilized principally for transportation of LNG produced from the Freeport LNG Project in Texas, USA, in which JERA participates.
JERA plans to increase its LNG fleet to 25 vessels by 2025 in association with an increased ratio of FOB contracts. Going forward, JERA is aiming to develop and optimize its fuel transportation businesses to achieve stable, competitive and flexible fuel portfolio.
Outline of the TCPs
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Shipowner |
Ship owning company under GasLog Ltd. |
Ship owning company under Angelicoussis Group |
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|
Charterer |
LMT |
LMT |
|
|
Ship manager |
GasLog LNG Services Ltd. |
Maran Gas Maritime Inc. |
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Charter Period |
12 years from 2020 |
12 years from late-2019 |
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|
About the Vessel |
Shipyard |
Samsung Heavy Industries Co., Ltd |
Daewoo Shipbuilding & Marine Engineering Co., Ltd. |
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Tank size & shape |
180,000cbm Membrane |
173,400cbm Membrane |
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About GasLog Ltd.
GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog's consolidated owned fleet consists of 34 LNG carriers (including 26 ships on the water and eight on order). GasLog also has an additional LNG carrier which was sold to a subsidiary of Mitsui Co., Ltd. and leased back under a long-term bareboat charter. Upon closing of the sale of the GasLog Glasgow, GasLog's consolidated fleet will include 15 LNG carriers in operation owned by GasLog's subsidiary, GasLog Partners. GasLog's principal executive offices are at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. Visit GasLog's website at http://www.gaslogltd.com
About Angelicoussis Group
Founded over 70 years ago, Angelicoussis Group now has a combined fleet of over 150 vessels – split among dry bulk vessels, oil tanker and LNG vessels. The LNG division was formed in 2003 and today its fleet is comprised of 28 LNG vessels in operation, with 12 more on order plus one FSRU. Maran Gas Maritime Inc. has its Headquarter Office in Athens, Greece and manages the LNG vessels of the Angelicoussis Group.