Cool Company has entered into a time charter agreement for one of its vessels with a new client.

The 12-month time charter with Santos Shipping Singapore begins this quarter.

“We are delighted with this innovative agreement that provides and aligns incentives between the owner and the charterer, which is expected to enhance efficiency and minimise emissions on one of our modern TFDE [tri-fuel diesel-electric] vessels,” said CoolCo chief executive Richard Tyrrell.