JERA inks long-term charter for Maran Gas LNG newbuild

JERA inks long-term charter for Maran Gas LNG newbuild

Japan’s LNG importing giant JERA has signed a long-term charter deal with Maran Gas Maritime, an Angelicoussis Group company. 

Illustration purposes only (Image courtesy of Maran Gas Maritime)

The deal was signed through JERA’s unit LNG Marine Transport Limited (LMT), JERA said in a statement.

The charter period is for 12 years starting from late 2019 when the vessel is scheduled for delivery from the South Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME).

The vessel capable of transporting 173,400 cubic meters of the chilled fuel will be used for transportation of LNG produced from the Freeport LNG Project in Texas, USA, in which JERA participates.

The deal is in addition to a similar contract with GasLog for its newbuild 180,000-cbm carrier currently under construction at Samsung Heavy Industries.

JERA plans to increase its LNG fleet to 25 vessels by 2025 in association with an increased ratio of FOB contracts. Going forward, JERA is aiming to develop and optimize its fuel transportation businesses to achieve stable, competitive and flexible fuel portfolio.