DUSUP Shortens Golar Partners’ FSRU Charter

Nasdaq-listed Golar LNG Partners has reached an agreement to shorten the existing time charter of the Golar Freeze FSRU, that was due to end in May 2020.

The ship’s charterer, Dubai Supply Authority (DUSUP), and Golar agreed to shorten the charter by one year and to remove DUSUP’s termination for convenience rights and extension option rights which ran to 2024.

The parties opted for the move as DUSUP, which has two FSRUs on contract, informed that it does not have full time use for Golar Freeze. The companies have therefore been working to find alternative employment.

Golar Partners said that it will receive the right to terminate its obligations under the charter while continuing to receive the capital element of the charter until the end of the new charter period in April 2019.

Additionally, the operating cost element of the charter will be reduced to a nominal amount from November 2017 and Golar Partners will similarly save operating costs from putting the vessel into layup pending new employment.

“This arrangement gives both parties more certainty and enables Golar Partners to re-market the vessel” with the clear knowledge of its long term availability from 2018, according to Golar Partners.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2018 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >