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Vitol Signs Long Term LNG Time Charter Contract with H-Line

Logistic News - Published on Fri, 20 Sep 2019

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Global energy and commodities company Vitol and leading Korean shipping company H-Line Shipping with a diversified portfolio of vessels under long-term employment, are pleased to announce the execution of a 10-year time charter agreement for a newbuild, latest generation LNG carrier. The 174,000m3 vessel with XDF propulsion is to be built at Korea’s Hyundai Samho Heavy Industries and is due for delivery in late 2021. Vitol also holds extension options and the ability to exercise additional LNG carriers to support its further growth in the LNG industry through this partnership with H-line.

Mr Pablo Galante Escobar, Vitol’s head of LNG, said “We are very excited to have concluded this contract with H-Line, a top class Korean shipowner, which represents Vitol’s second long-term charter of a modern 174,000 m3 LNG carrier. This allows us to optimize our LNG portfolio that includes increasing FOB volumes from different areas that we are actively marketing to our global clients.”

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Posted By : Mohan Sharma on Fri, 20 Sep 2019
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