Pallas Group Extends LoI for Construction of New Cargo Ship

Pallas Group AB announced yesterday that the company has extended the Letter of Intent, signed with Turkish Akdeniz Shipyard in July 2012, for the construction of cargo ship capable to transport LNG (liquefied natural gas) and methanol.

Developed by Pallas Shipping, the new ship’s design concept meets the latest environmental and safety requirements.

The cargo ship will have a capacity of 2200 tons and is designed to operate as a bunker ship meeting high demands on manoeuvrability, safety, and technical standards.

Both parties intend to have the design concept and specifications ready before summer 2013. The construction will probably commence in autumn 2013 after signing of the contract.

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World Maritime News Staff, March 14, 2013; Image: Pallas Group