Mitsui Charters Eight LNG Newbuild

May 12, 2015

 Mitsui & Co. has signed a 25-year time charter deal with Trinity LNG Transport for the eight liquefied natural gas (LNG) carrier that will ship the liquefied natural gas from Cameron LNG project in the United States.

 
“Mitsui has newly contracted yesterday the eighth ship, bringing the total maximum charter hire amount for the combined eight ships to approximately 700 billion Japanese yen,” Mitsui said in a press statement.
 
It will charter a 178,000m³ membrane-type LNG carrier for up to 25 years starting in around 2020 from Trinity LNG Transport, a joint venture between Mitsui, Japanese shipbuilder Imabari Shipbuilding and Japanese shipping firm K Line. 
 
The ship will be built by Imabari Shipbuilding and installed with an electronically-controlled dual-fuel gas injection diesel engine.
 
This vessel follows the five ships with time charter parties signed in September, 2014 and the two charter parties signed in January, 2015, the company said. 
 
The latest deal brings the total maximum charter hire amount for the combined eight ships to approximately 700 billion Japanese yen.
 
Mitsui previously signed charter agreements for five vessels in September last year and two more in January this year. Japanese shipbuilders have won contracts to build at least five of the LNG carriers, while one will be built by a South Korean shipbuilder and two by undisclosed firms.
 
Meanwhile, Kawasaki Kisen Kaisha’s (K Line) has joined compatriots Nippon Yusen Kaisha (NYK) and Mitsui OSK Lines (MOL) in inking a long-term time charter contract with Mitsui & Co for the Cameron LNG project in the US.
 
K Line said it would be building a 178,000 cu m capacity LNG carrier at Imabari Shipbuilding for the 25-year contract. The vessel will be owned by Trinity LNG Transport a joint venture between K Line, Mitsui and Imabari.
 
Cameron LNG is developing natural gas liquefaction and export facilities next to its existing liquefied natural gas (LNG) receipt terminal in Hackberry, Louisiana.
 

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