Vitol enters 10-year LNG carrier charter with H-Line

Illustration; Image courtesy of Vitol

Commodity trading company Vitol and Korean shipping company H-Line Shipping have entered into a 10-year time-charter agreement for a newbuild LNG carrier.

Vitol said that the 174,000-cbm vessel with XDF propulsion would be built at Korea’s Hyundai Samho Heavy Industries (HSHI) and was due for delivery in late 2021.

The company also holds extension options and the ability to exercise additional LNG carriers from H-line.

Pablo Galante Escobar, Vitol’s head of LNG, said, “This allows us to optimize our LNG portfolio that includes increasing FOB volumes from different areas that we are actively marketing to our global clients.

It is worth noting that the previous deal for an LNG carrier of this size was signed in early April with Greek LNG-carrier operator TMS Cardiff Gas.

The deal was signed for one of TMS’ X Carrier series vessels currently under construction at Hyundai Heavy Industries (HHI). The vessel is set for delivery in 2021.

Share this article

Follow LNG World News


<< Oct 2019 >>
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >