Japanese energy company JERA has entered into a time charter contract for a newbuild LNG carrier with an affiliate company of Greek owner Angelicoussis Group.
Construction of the 174,000 cu m vessel will commence in 2020 at a shipyard in South Korea. The charter period is about 12 years starting between October and December 2021, and the vessel will be mainly utilised for the transportation of LNG from 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,” the company said in a release.
Angelicoussis currently has 13 LNG carriers on order at DSME.