Pan Ocean charters LNG bunkering vessel to Shell

South Korea’s Pan Ocean Co said it has signed a time charter deal for one LNG bunkering vessel with a unit of energy giant Shell.

The shipping firm said in a stock exchange filing it entered the deal worth about $55 million with Shell NA LNG on April 9.

The contract would start from May 2023 and includes a firm duration period for six years as well as two extension options, Pan Ocean said.

The total duration would be eight years, depending on Shell’s decision, the firm said.

Pan Ocean did not reveal any additional info. Local reports suggest that South Korea’s Hyundai Mipo would build the LNG bunkering vessel with a capacity of 18,000 cbm.

To remind, Shell previously said it plans to boost its LNG bunkering business by 50 percent on international routes by the mid-2020s.

The firm has completed more than 400 LNG bunkering operations around the world, including in France, the Netherlands, Norway, Spain, and most recently the US and Singapore.

In addition, Shell is also building a large fleet of LNG-powered vessels.

Most Popular

Venture Global to introduce gas to tenth Plaquemines liquefaction block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the tenth liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

Kimmeridge’s Commonwealth LNG seeks expedited approval from FERC

Kimmeridge's Commonwealth LNG is seeking expedited final approval from the US FERC as it looks to make a final investment decision on its planned LNG export plant in Louisiana later this year.

Excelerate’s FSRU arrives in Germany

Excelerate’s 138,000-cbm FSRU Excelsior has finally arrived in Germany, where it will start serving DET's second LNG import terminal in Wilhelmshaven.

More News Like This

Venture Global launches Calcasieu Pass LNG commercial ops

US LNG exporter Venture Global LNG has launched commercial operations at its Calcasieu Pass LNG terminal in Louisiana, some 68 months from its final investment decision and 38 months after production start.

YPF expects more supermajors to join Argentina LNG project, CEO says

Argentina’s state-owned oil and gas company YPF expects more supermajors to become equity partners in the planned Argentina LNG project following a deal with Shell, according to CEO Horacio Marin.

Shell expects Q1 LNG trading results to be in line compared to previous quarter

LNG giant Shell expects trading and optimization results for its integrated gas business in the first quarter of this year to be in line compared with the fourth quarter of last year.

Peru LNG terminal sent five shipments in March

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped five liquefied natural gas cargoes in March, one more than in the previous month.