Pan Ocean wins LNG bukering deal with Shell

South Korean owner Pan Ocean said Monday it has signed a time charter deal with Shell for an LNG bunkering vessel.

The contract is scheduled to commence May 2023, including a firm duration period as well as 2 extension options.

Including options, a total duration would be 8 years, which would see Pan Ocean generate approximately $55m in revenues.

Reportedly, the 18,000 cu m LNG bunkering ship is to be built by South Korea’s Hyundai Mipo Dockyard.

Last year, Pan Ocean also ordered two 174,000 cu m LNG carriers at Hyundai Heavy, South Korea’s largest shipbuilding group, for a charter deal with Shell.

Adis Ajdin

Adis is an experienced news reporter with a backgroud 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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