Japanese Owners Bid for GAIL’s LNG Carriers

Image Courtesy: Gaslog

Aside to South Korean shipbuilding majors, GAIL India’s USD 7 million tender for nine LNG carriers has reportedly sparked the interest of Japanese shipowners.

Specifically, a consortium comprising Japanese shipping companies Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui & Co Ltd and another group including Mitsubishi Corporation, Kawasaki Kisen Kaisha (K Line) and GasLog Ltd submitted their bids to hire the LNG carriers intended to transport gas from the US, India’s newspaper Live Mint reports citing sources familiar with the matter.

Gaslog is the only non-Japanese firm to enter the race.

In March, India’s gas utility pushed back the tender deadline for the time-charter from February until March 31st.

The decision to postpone the tender was attributed to bidders’ request to be given more time to finalize their offers.

The tender is quoted in three lots of three ships each, out of which three ships are to be built in India to boost Indian shipbuilding capabilities.

The LNG carriers ordered overseas are to be completed by May 2019, whereas the batch to be built by domestic shipyards should be delivered between July 1, 2022 and June 30, 2023.

World Maritime News Staff

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