LNG shipper GasLog Partners said on Tuesday it signed new time charter agreements with TotalEnergies and Shell.
The limited partnership controlled by Greece-based GasLog has signed a one-year time charter with a unit of TotalEnergies for the 2013-built TFDE carrier GasLog Sydney.
The 155,000-cbm vessel, which previously worked in the spot LNG market, would start the contract with Total this week, GasLog Partners said.
In addition, the shipping firm has signed a charter deal with a unit of Shell for a period of about 8 months.
Shell is already using the 155,000-cbm TFDE LNG carrier Solaris as part of a multi-year charter agreement between the duo.
The new charter would start immediately after the existing deal. It would begin in late July and extend through the end of the first quarter next year, GasLog Partners said.
“The agreements are at fixed daily rates of hire at returns in line with the historic long-term average, underscoring the strengthening LNG carrier spot market observed so far this year, ” Paul Wogan, chief executive of GasLog Partners, said.
“Together they improve the partnership’s revenue and cash flow visibility, further balancing its operational and financial leverage,” he said.