Total Charters LNG Carrier from 2020
Greek LNG shipowner TMS Cardiff Gas announced January 4 it has agreed a seven-year time charter to Total, and ordered a new carrier from South Korea to meet the requirement.
The shipowner has signed a contract with Hyundai Heavy Industries(HHI) for the construction of one 174,000 m3 cargo capacity LNG carrier, with an option for a second vessel. It said this is the first in its 'X Carrier' series of orders and is scheduled for delivery in 2020, whereupon she will begin the seven-year time charter with Total Gas & Power.
Christos Economou, founder of TMS Cardiff Gas, said: “We are delighted to secure a new long-term time charter with Total .... an important customer for TMS Cardiff Gas, and we look forward to providing them with first class LNG shipping services as they continue to expand their LNG activities.” The shipowner, established 2011, operates and manages ten gas carriers (six LNG carriers and four very large LPG ones). It said its "appetite for further growth in the sector... is reflected by the additional capacity made available with optional vessels for delivery in 2020 and 2021."
Under its agreed takeover of Engie's upstream LNG business due for completion mid-2018, Total's fleet is expected to increase from three to 13 LNG tankers according to info from both firms two months ago.
Palu LNG, one of TMS Cardiff's LNG carriers, transiting the Panama Canal (Source: the company)