New LNG Vessel for Petronet LNG Delivered

By Vessels

A consortium comprising Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (K Line), and the Shipping Corporation of India Ltd. (SCI) took delivery of a new LNG vessel on November 30, 2016, in South Korea.

New LNG Vessel for Petronet LNG Delivered

The vessel, PRACHI, has a capacity of 173,000 m3 and was built to order by Hyundai Heavy Industries Co. Ltd. based on a long-term time charter contract with Petronet LNG Limited (PLL). A naming ceremony for the ship was held on October 18, 2016.

PLL, India’s first importer of LNG, currently brings in 7.5 million tons of LNG a year from Qatar using three LNG carriers. PRACHI is the fourth vessel for the transport of LNG to India and will be employed in the Gorgon LNG Project in Australia.

SCI has been operating and managing all the LNG tankers that are under long term charter with PLL. SCI also takes over as manager of PRACHI since delivery on November 30, 2016.

The four-company consortium will make every effort for safe transportation using this advanced new vessel, which is expected to contribute to the steady supply of LNG to India as energy demand continues to grow.

Front row from left: Sixth, seventh, Prabhat Singh, Managing Director & Chief Executive Officer of PLL and his wife Fourth, Akira Misaki, Managing Executive Officer of “K” Line Fifth, Hitoshi Nagasawa, Representative Director, Senior Managing Corporate Officer of NYK

Front row from light: Fifth, Kil Seon Choi, Chairman & CEO of Hyundai Heavy Industries Co., Ltd. Fourth, Kenta Matsuzaka, Executive Officer of MOL Second, Akira Kono, Corporate Officer of NYK

Outline of PRACHI

Length overall: 294.97 meters
Breadth: 45.60 meters
Summer molded depth: 12.50 meters
Gross tonnage: 112,791 tons
Cargo tank capacity: 90,328 tons
Shipbuilder: Hyundai Heavy Industries Co. Ltd.
Flag: Singaporε

Outline of Charter Contract

Owner: India LNG Transport Company (No. 4) Private Limited (Headquarters: Singapore), JV by Nippon Yusen Kabushiki Kaisha, Mitsui O.S.K. Lines, Ltd., Kawasaki Kisen Kaisha, Ltd., and the Shipping Corporation of India Ltd.
Charterer: Petronet LNG Limited
Charter period: 19 years
Vessel: One new membrane-type LNG carrier (173,000 m3)
Shipbuilder: Hyundai Heavy Industries Co. Ltd
Ship Management: The Shipping Corporation of India Ltd.

Source: NYK Line