Japan boosts India ties

Japan’s three largest shipowners have teamed up with the Shipping Corporation of India (SCI) to order an LNG carrier newbuilding.
The newbuilding will import LNG into India

The newbuilding will import LNG into India

The 173,000-cbm vessel has been ordered at Hyundai Heavy Industries by the consortium made up of K Line, NYK, Mitsui OSK Lines (MOL) and SCI.

The newbuilding has been contracted on the back of a long-term charter from Delhi-based Petronet LNG Limited (PLL).

The charter period is for 19 years and is due to start following the delivery of the newbuilding in September 2016.

No price details were disclosed, but last month Teekay LNG Partners ordered a similar sized LNG carrier at DSME for around $200m.

PLL is India’s first importer of LNG, and since 2004 has imported 5mt of LNG a year from Qatar, and an additional 2.5mt per year since 2009, using three LNG carriers.

The consortium said in a statement Tuesday that the new LNG carrier will be employed in the Gorgon LNG Project.

The four-company consortium, the India LNG Transport Co, already operates the three vessels already on charter to PLL.

India presently has two LNG discharging facilities: one at Dahej Port, in Gujarat State and the other at Kochi Port, in Kerala State.

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