Gunvor terminates Exmar FSRU charter

Commodity trading giant Gunvor has terminated the charter for Exmar’s 2017-built floating regasification barge (FSRU) S188 which is the subject of ongoing arbitration proceedings.

As a result of early termination, the Belgian owner and operator has received a termination fee equal to two years hire.

Exmar said it will start marketing the Liberian-flagged FSRU for re-employment and further details will be communicated in due course.

Gunvor signed up for a 10-year charter for an Exmar barge-based FSRU for use in Bangladesh in May 2018. In September 2019, the Geneva-based firm gave notice of a dispute under the charter for Exmar’s FSRU unit and commenced arbitration. The charter remained in full force and effect until the termination.

Exmar currently owns and operates three gas floaters, with one on order set to be delivered in 2021.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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