Greece-based gas carrier operator TMS Cardiff Gas Ltd. has signed a contract with Hyundai Heavy Industries of Korea for the construction of two 78,700 cbm LPG carriers with the option to build another two.
The vessels are scheduled for delivery in Q2 and Q3 2017, when they will enter into timecharter contracts with Shell International Trading and Shipping Company, Limited, the company said.
The vessels will be able to transit the new and old Panama canal, providing for increased flexibility compared to the market’s current VLGC fleet and will be built to the highest industry specifications.
“These orders mark the group’s successful entry into the LPG sector, which further grows its already significantly diversified global shipping fleet,” the company added.
TMS Cardiff Gas Ltd. was established in 2011 as part of the TMS Group of related shipping companies to manage the group’s gas fleet and operations. The company manages a fleet of five in the water LNG carriers and two VLGC newbuilds.