JERA Hires LNG Carrier Newbuild from Angelicoussis Group

Japanese energy trader JERA has entered into a time charter party for an LNG carrier with a ship owning company affiliated with the Angelicoussis Group.

The 12-year charter, inked by JERA’s subsidiary LNG Marine Transport Limited, is set to start between October and December 2021, and the vessel will be utilized principally for the transportation of LNG from LNG projects in Asia and Oceania.

The construction of the 174,000cbm membrane tank vessel is set to start in 2020 at Daewoo Shipbuilding & Marine Engineering Co., Ltd.

DSME is the Greek owner’s favorite shipbuilder, having secured contracts for over 100 ships over the years.

Earlier this month, Maran Gas booked a construction of LNG carrier for the group bringing the ordering tally for LNG carrier newbuilds to seven ships ordered this year alone.

“JERA plans to increase its LNG fleet to 25 vessels by 2025 as its ratio of FOB contracts grows. Going forward, JERA will continue to actively develop and optimize its fuel transportation businesses to achieve a stable, competitive, and flexible fuel portfolio,” JERA said.

The charter was announced just one day before JERA signed a Memorandum of Understanding (MOU) with PetroChina International Company Limited (PCI), a subsidiary of China National Petroleum Corporation, on cooperation in the LNG business.

Under the MOU, JERA and PCI will discuss opportunities to cooperate in LNG bunkering, LNG shipping optimization, joint sale and procurement of LNG and generating new demand for LNG, including overseas LNG value chain investments.

“As LNG demand in China increases, the presence of Chinese energy companies in the LNG industry is growing year by year. JERA believes that strengthening its cooperation with PCI, a leading energy company in China, will not only expand business opportunities for both JERA and PCI but also contribute to the healthy development of the LNG industry,” JERA said.