Posted on April 13, 2021
South Korea’s Pan Ocean Co., Ltd. reports that it has entered into a time charter contract for an LNG bunkering vessel with Shell NA LNG, LLC. The contract is worth an estimated $55 million and will start from May 2023.
It includes a firm duration period as well as two extension options that, if exercised would bring its total term to eight years.
According to the Yonhap news agency, backed by the Shell charter, Pan Ocean has placed a shipbuilding contract with Hyundai Mipo Dockyard for an 18,000 cu.m LNG bunkering vessel.
