GAIL signs long-term charter contract with K-Line for LNG ship

State state inferior GAIL (India) Ltd connected Friday signed an statement with Kawasaki Kisen Kaisha, Ltd for semipermanent charter prosecute of a recently built LNG ship.

The pact was signed done the ship-owning institution established successful Singapore, GAIL said successful a statement.

The LNG vessel volition beryllium a modern two-stroke vas having a vessel capableness of 1,74,000 cubic metres and volition beryllium built by Samsung Heavy Industries Co Ltd, Korea, with which the vessel owning institution has concluded a shipbuilding contract.

The declaration was signed successful the beingness of R K Jain, GAIL Director (Finance), Sanjay Kumar, GAIL Director (Marketing), and R K Singhal, GAIL Director (Business Development) by S Bairagi, GAIL Executive Director (Marketing - Shipping & International LNG) and Satoshi Kanamori, Managing Executive Officer (LNG, Carbon Solution Business), K-Line.

"This is the archetypal semipermanent clip charter declaration betwixt GAIL and K-Line involving a recently built vas which is expected to beryllium engaged successful proscription of Liquified Natural Gas (LNG) for GAIL successful 2027," it said.

GAIL has 4 LNG vessels -- GAIL Bhuwan, GAIL Urja, Grace Emilia, and Maran Gas Pericles, to transport earthy state successful a ace cooled form.

Two much ships are expected to articulation the fleet adjacent year, including 1 recently built vas connected semipermanent charter.

GAIL has a diversified sourcing portfolio for implicit 15 cardinal tonnes a twelvemonth of LNG that includes proviso sources from assorted geographies.

The company's LNG fleet is deployed to assistance volumes contracted connected escaped connected committee (FOB) ground chiefly from the North American portion and is transported to conscionable the home request arsenic good arsenic planetary customers.