TMS Cardiff Gas, an operator and manager of 16 LNG Carriers, announced yesterday (Mar31) that the Company has entered into a ten-year time charter contract with Vitol, a globally established energy & commodities company, for one of its X Carrier Series vessels.
The 174,000 cubic meter vessel with efficient XDF propulsion is being constructed at Hyundai Heavy Industries (HHI). The Company has now secured term employment for ten of its eleven X Carrier Series vessels and maintains options for further growth.
The vessel will be built to the highest industry specifications, as per TMS Cardiff Gas standards.
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.
Christos Economou, Founder of TMS Cardiff Gas, commented: “We are delighted to bring onboard our new long-term business customer which is a first time term customer for TMS Cardiff Gas. We are grateful for the trust Vitol have placed in us as their shipping provider of choice for the safe and reliable delivery of LNG to their customers.”
Pablo Galante Escobar, Vitol’s head of LNG said: “We are pleased to have concluded this deal with Cardiff, an experienced and reliable owner with an excellent operational track record. This time charter is our first long-term shipping position and enhances the overall proposition to our customers.”
Source: TMS Cardiff Gas