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South Korean shipbuilder Samsung Heavy Industries held a naming ceremony for the 174,000-cbm Diamond Gas Jade on May 19, according to separate statements by K Line and U-Ming.
K Line said the vessel will serve a long-term charter deal with Mitsubishi’s unit Diamond Global Energy, previously known as Diamond Gas International.
The vessel will be used in the Shell-led LNG Canada project in which Mitsubishi participates.
The charter party between DGE and K Line represents the first long-term charter contract for a newly built LNG vessel, it said.
According to K Line, the vessel is scheduled for delivery in August.
U-Ming said the commissioning of this first LNG carrier symbolizes its official entry into the energy and LNG transportation sector.
Last year, U-Ming announced that it had entered the LNG carrier sector by joining forces with K Line for one newbuild vessel.
A stock exchange filing revealed that U-Ming’s unit Oceanic LNG Investment bought shares worth $37.37 million in KMU LNG Shipping.
KMU LNG Shipping is a 50 percent-owned JV company of Oceanic LNG Investment.
U-Ming operates a diverse fleet of 84 vessels—including owned, joint venture, and newbuildings—with a total capacity of nearly 10 million DWT.
The company’s fleet spans bulk carriers (capesize, panamax, ultramax), VLCCs, and VLOCs.