TMS Cardiff Gas has signed a contract with South Korean Hyundai Heavy Industries (HHI) for the construction of a 174,000 cubic meter LNG carrier with XDF propulsion.
The contract includes an option for a second vessel, the Greek-based owner and operator of gas carriers said.
This order is the first in the company’s X Carrier Series of orders, which expands the company’s fleet of managed vessels to ten. The vessel is scheduled for delivery in 2020, when it will enter into a seven-year time charter contract with Total Gas & Power Chartering.
According to the company, the vessel will be built to the highest industry specifications and marks its further expansion into the LNG sector with secured term employment upon delivery.
TMS Cardiff Gas added that it maintains its appetite for further growth in the sector, which is reflected by the additional capacity made available with optional vessels for delivery in 2020 and 2021.
“We are delighted to secure a new long-term time charter with Total, one of the leading global energy companies. Total is an important customer for TMS Cardiff Gas and we look forward to providing them with first-class LNG shipping services as they continue to expand their LNG activities,” Christos Economou, Founder of TMS Cardiff Gas, said.
TMS Cardiff Gas, established in 2011, has a fleet of ten gas carriers, six LNG carriers and four VLGCs.