JERA Co., Inc. (JERA), through its subsidiary LNG Marine Transport Limited (LMT), has entered into a time charter party (TCP) for one LNG vessel with a ship owning company affiliated with the Angelicoussis Group.

JERA: LNG Vessel Time Charter Party Concluded

Construction of the vessel will begin in 2020 at a shipyard in Korea. The charter period is about 12 years starting between October and December 2021, and the vessel will be utilized principally for transportation of LNG from LNG projects in Asia and Oceania.

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.

Outline of the TCP:

Shipowner Ship owning company affiliated with the Angelicoussis Group
Charterer LMT
Ship Manager Maran Gas Maritime Inc.
Charter Period About 12 years beginning in late 2021
Shipyard Daewoo Shipbuilding & Marine Engineering Co., Ltd.
Specifications 174,000cbm membrane tank