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Japan's MOL, India's GAIL Sign Charter Deal for Newbuild LNG Carrier

December 21, 2022

The signing ceremony in MOL head office in Tokyo - ©MOL
The signing ceremony in MOL head office in Tokyo - ©MOL

Japan's Mitsui OSK Lines (MOL) and India's state-run GAIL have signed a time charter contract for a newbuild liquefied natural gas (LNG) carrier, and for joint ownership of an existing LNG carrier. 

The newbuild vessel will be built by South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering with a charter period from 2023, according to a joint statement by MOL and GAIL on Wednesday. 

This is the second charter agreement for an LNG carrier signed between MOL and GAIL, which is India's largest gas distributor, it added. 

The first carrier, under the agreement signed in 2019, ships LNG from the U.S. Gulf Coast to India. 

(Reuters - Reporting by Emily Chow; Editing by Rashmi Aich)



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