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PETRONAS signs time charter party for two newbuild LNG vessels

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LNG Industry,

PETRONAS has announced that its subsidiary, PETRONAS LNG Ltd (PLL), has signed a 12-year time charter party (TCP) with Kawasaki Kisen Kaisha Ltd (“K” Line) for two mid-sized newbuild LNG vessels.

According to the statement, the TCP includes an extension option for an additional 12 years.

The Wuhaogou-Max (W-Max) vessels each have a capacity of approximately 79 960 m3, and are specifically built to fully optimise the delivery of LNG cargoes to Shenergy Group Company Ltd’s Wuhaogou LNG terminal in Shanghai. The vessels are capable of delivering fully laden cargoes within the channel’s permissible limits without exceeding the port’s draught limitation.

This long-term TCP is in line with the signing of the shipbuilding agreements between “K” Line and Hudong-Zhonghua Shipbuilding (Group) Co. Ltd, whereby these vessels will be constructed in Shanghai, China, with delivery expected to occur in 2Q22.

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