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Cool Company Ltd announce multi-year forward time charter

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LNG Industry,

Cool Company Ltd (CoolCo) has entered into a new time charter agreement for one of its TFDE LNG carrier vessels, starting early next year. The multi-year charter is with an energy major and starts upon redelivery from the vessel’s current charter. It will add back log through to 2027.

“We are delighted to have secured this attractive time charter, locking in cover at a rate that reflects the continued strength of the LNG carrier market,” said Richard Tyrrell, CEO of CoolCo. “The forward nature of this contract demonstrates the desire of LNG producers, offtakers, and portfolio players to secure modern tonnage to transport the dramatically increasing volumes of LNG coming online through the middle and latter parts of the decade. With vessel availability coinciding with seasonal peaks for chartering, CoolCo stands to benefit from the ongoing LNG carrier re-pricing cycle. Happy Norwegian Constitution Day to our investors.”

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