Through its subsidiary LNG Marine Transport Limited, Japan’s Jera Co has entered into a time charter party for a 174,000-m3 LNG carrier with the John Angelicoussis-led Maran Gas Maritime
The charter is in line with Jera’s plans to increase its LNG fleet to 25 vessels by 2025 as its ratio of free-on-board (FOB) contracts grows.
One of the world’s biggest buyers of LNG and a major generator of power, Jera has a fleet of 18 LNG carriers, procuring LNG from some 17 countries, with interests in eight LNG receiving terminals in Japan. Jera’s transaction volume of 35 mta of LNG is among the largest in the world.
The new LNG carrier will begin construction in 2020 at Daewoo Shipbuilding and Marine Engineering in South Korea. The charter period is about 12 years starting in Q4 2021, and the vessel will be principally used to transport LNG from projects in Asia and Oceania.
Going forward, the company said it will continue to actively develop and optimise its fuel transportation businesses to achieve a stable, competitive and flexible fuel portfolio.