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Petronas Signs 12 Year Time Charter Party for 2 New Build LNG Vessels with K Line

Logistic News - Published on Tue, 25 Feb 2020

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PETRONAS through its subsidiary PETRONAS LNG Ltd recently signed a 12-year Time Charter Party, with an option to extend for another 12 years, with a renowned Japanese shipowner, Kawasaki Kisen Kaisha Ltd for two mid-sized new build LNG vessels of approximately 79,960 cubic metres each in capacity. This long term TCP is in line with the signing of the shipbuilding agreements between “K” Line and Hudong-Zhonghua Shipbuilding (Group) Co Ltd whereby these vessels will be constructed in Shanghai, China, and expected to be delivered in the second quarter of 2022. These identical vessels will be dedicated to serving PETRONAS’ long term LNG delivery commitment to Shanghai under the new LNG supply agreement with Shenergy Group Company Limited.

The vessels known as Wuhaogou-Max (W-Max) are specifically built to fully optimise the delivery of LNG cargoes to Shenergy’s Wuhaogou LNG terminal in Shanghai. The vessels are capable of delivering fully laden cargoes within the channel’s permissible limits without exceeding the port’s draught limitation.

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Posted By : Rabi Wangkhem on Tue, 25 Feb 2020
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