JERA Co., Inc. (“JERA”) is pleased to announce that through LNG Marine Transport Limited (“LMT”), a subsidiary of JERA, it has concluded time charter parties for two LNG vessels with ship owning companies under GasLog Ltd. and Angelicoussis Group, respectively.
Both vessels are currently under construction at shipyards in Korea. The charter period for each vessel is 12 years firm starting from around 2020, and the vessels will be utilized principally for transportation of LNG produced from the Freeport LNG Project in Texas, USA, in which JERA participates.
JERA plans to increase its LNG fleet to 25 vessels by 2025 in association with an increased ratio of FOB contracts. Going forward, JERA is aiming to develop and optimize its fuel transportation businesses to achieve stable, competitive and flexible fuel portfolio.