Report: Gail India Drops Tender for LNG Vessels

Illustration; Image Courtesy: Petronet LNG

India’s gas utility Gail India Ltd has decided to scrap its tender to hire nine newly-built liquefied natural gas (LNG) vessels which were supposed to carry LNG cargoes from US, according to The Financial Express.

Following the move, made due to a lack of qualified bidders, the company will reportedly look to charter LNG vessels under three- to four-year charter deals.

Three ships out of the nine planned under the tender were set to be built in India to boost Indian shipbuilding capabilities.

Also interested in Gail’s USD 7 million tender for nine LNG carriers were the South Korean shipbuilding majors, while the tender reportedly sparked the interest of Japanese owners as well.

The LNG carriers ordered overseas were scheduled to be completed by May 2019, whereas the batch to be built by domestic shipyards was set to be delivered between July 2022 and June 2023.

World Maritime News contacted Gail India for more details on the decision to cancel the tender, however, the company is yet to reply.

World Maritime News Staff

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