Japan’s shipping giant NYK said it has signed a charter deal with India’s GAIL for one 174,000-cbm LNG carrier.
The duo signed the multi-year time-charter contract for the 2021-built Grace Emilia on December 20 during a virtual ceremony, according to a statement by NYK.
NYK did not reveal any additional information regarding the charter.
Hyundai Samho Heavy Industries recently delivered the LNG carrier Grace Emilia.
The vessel features WinGD’s dual-fuel slow-speed engine that has “superior fuel-consumption efficiency” and can operate on marine gas oil or boil-off gas stored in the cargo tank, NYK said.
In addition, it has a reliquefaction system that can use reliquefied excess boil-off gas and return it to the cargo tank, it said.
NYK said it had been in discussions with GAIL for the time-charter contract and other LNG-related businesses and considers GAIL as a “key player in India, where gas demand is expected to continue to increase due to remarkable economic growth.”
GAIL recently said it may charter another vessel to ship its contracted LNG volumes from the US.
Earlier this year, GAIL started using a newbuild LNG carrier it had chartered from Japan’s MOL to ship its US volumes to India.
State-run GAIL has long-term agreements from Cheniere’s Sabine Pass and the Dominion Cove facility in the US.