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Editor in chief: Angelo Scorza
07/01/19 12:18

Economou Jr. goes back to South Korea to feed up Shell trade

Group’s subsidiary TMS Cardiff Gas has placed an order for an additional X Carrier Series of LNG vessels while signing 4 long-term charter contracts for its newbuildings on order

TMS Cardiff Gas has signed additional contracts with Hyundai Heavy Industries (HHI) & Samsung Heavy Industries (SHI) of South Korea for the construction of more 174,000 cubic meter LNG carriers with XDF propulsion; this latest order in the X Carrier Series takes total to 11 units while the fleet of managed vessels has grown to 16.

The newbuildings vessels are scheduled for delivery in 2020 and 2021 to enter into time charter contracts with Shell, just signed.

The Greek company says to be maintaining its appetite for further growth in the sector, as reflected by the additional capacity made available with optional vessels for delivery in 2021.

“We are delighted to have agreed the charter of 4 new X Carrier Series of LNG ships to Shell, a very important customer in our expanding LNG shipping business” briefly commented Christos Economou, founder of TMS Cardiff Gas, established in 2011, and son to iconic shipowner George Economou (Dryships).

In January 2018 TMS Cardiff Gas signed a first contract with Hyundai Heavy Industries of Korea (HHI) for the construction of one 174,000 cubic meter LNG carrier with XDF propulsion, with an option for a second vessel, being the first in the X Carrier Series, for delivery in 2020, when the ship will enter into a 7 year time charter contract with Total Gas & Power Chartering, Limited.



TAG : Gas