LNG Vessel Time Charter Party Concluded2019/12/18

JERA Co., Inc. (“JERA”), through its subsidiary LNG Marine Transport Limited (“LMT”), has entered into a time charter party (“TCP”) for one LNG vessel with a ship owning company affiliated with the Angelicoussis Group.

Construction of the vessel will begin in 2020 at a shipyard in Korea. The charter period is about 12 years starting between October and December 2021, and the vessel will be utilized principally for transportation of LNG from LNG projects in Asia and Oceania.

JERA plans to increase its LNG fleet to 25 vessels by 2025 as its ratio of FOB contracts grows. Going forward, JERA will continue to actively develop and optimize its fuel transportation businesses to achieve a stable, competitive, and flexible fuel portfolio.

Outline of the TCP

Shipowner		Ship owning company affiliated with the Angelicoussis Group
Charterer		LMT
Ship Manager		Maran Gas Maritime Inc.
Charter Period		About 12 years beginning in late 2021
About the Vessel	Shipyard	Daewoo Shipbuilding & Marine Engineering Co., Ltd.
	Specifications	174,000cbm membrane tank

About the Angelicoussis Group

Founded over 70 years ago, the Angelicoussis Group now has a combined fleet of over 150 vessels split among dry bulk vessels, oil tankers, and LNG vessels. The LNG division was formed in 2003 and now operates a fleet of 32 LNG vessels, with 11 more on order plus one FSRU. Headquartered in Athens, Greece, Maran Gas Maritime Inc. manages the Angelicoussis Group’s LNG vessels.