GAIL Sails Forward: New LNG Vessel Charter with K-Line Signed

GAIL (India) Ltd has forged a long-term charter agreement with Kawasaki Kisen Kaisha, Ltd for a newly constructed LNG ship. The modern vessel, to be built by Samsung Heavy Industries, will begin transporting liquefied natural gas for GAIL by 2027, enhancing their fleet and global sourcing strategy.

In a recent development, state gas utility GAIL (India) Ltd has entered into a long-term charter hire agreement with Japan's Kawasaki Kisen Kaisha, Ltd for a newly built LNG ship.

This strategic partnership was formalized through a ship-owning entity established in Singapore, marking GAIL's first long-term time charter contract with K-Line. The vessel, to be constructed by Samsung Heavy Industries in Korea, boasts a tank capacity of 1,74,000 cubic metres.

With this addition, GAIL aims to enhance its transportation capabilities, complementing its extensive LNG fleet operations that currently cater to both domestic demand and international markets.

(With inputs from agencies.)