LNG Marine Transport Limited (LMT), a subsidiary of JERA Co, Inc secured two time charter parties (TCPs) for LNG vessels with Angelicoussis Group and GasLog Ltd.
The vessels will be chartered for 12 years each and are expected to primarily carry LNG from the Freeport LNG facility in Texas.
Angelicoussis Group will charter the smaller of the two vessels starting in late 2019. The 173,400 m3 ship is currently under construction in Korea at the Daewoo Shipbuilding & Marine Engineering Co., Ltd. shipyard.
GasLog Ltd will charter the second ship, which is expected to have a 180,000 m3 tank. The charter will begin in 2020 after construction at Samsung Heavy Industries Co., Ltd shipyard in Korea is complete.
By 2025 JERA intends to grow its LNG fleet by 25 vessels in order to keep up with rising free on board (FOB) contracts.
