TMS Cardiff Gas Inks 10-Year Charter with Vitol

Operator and manager of LNG carriers TMS Cardiff Gas has signed a long-term charter contract with energy and commodities company Vitol.

Under the deal, one of the company’s new X Carrier Series vessel was hired for a period of ten years.

The 174,000 cbm unit, with efficient XDF propulsion, is currently under construction at Hyundai Heavy Industries (HHI) shipyard.

With the latest charter deal, TMS Cardiff Gas said it secured term employment for ten of its eleven X Carrier Series units, which would be built to the highest industry specifications.

“The company maintains its appetite for further growth in the sector, which is reflected by the additional capacity available with optional vessels for delivery in 2021.

Vitol, which is a first time term customer for TMS Cardiff Gas, said that the time charter is its first long-term shipping position and “enhances the overall proposition to our customers,” according to Pablo Galante Escobar, Vitol’s head of LNG.