New Delhi: GAIL (India) Limited has signed a long-term time charter contract with Kawasaki Kisen Kaisha, Ltd. (“K” LINE) for a new LNG vessel with a tank capacity of 1,74,000 cubic metres. The ship, to be built by Samsung Heavy Industries Co. Ltd., Korea, is expected to join GAIL’s fleet in 2027, the company said.
This marks GAIL’s first long-term charter agreement with “K” LINE, leveraging the Japanese shipping company’s 40 years of experience in LNG transportation. The agreement was signed in the presence of GAIL directors R K Jain (Finance), Sanjay Kumar (Marketing), and R K Singhal (Business Development).
GAIL currently operates four LNG carriers—GAIL Bhuwan, GAIL Urja, Grace Emilia, and Maran Gas Pericles—primarily used to transport gas volumes contracted on a Free on Board (FOB) basis from North America. Two more vessels, including one new build on long-term charter, are expected to join the fleet next year.
The company manages a diversified LNG sourcing portfolio of over 15 MMTPA, sourced from various geographies on both FOB and Delivered Ex-Ship (DES) bases. The fleet ensures the transportation of gas to meet domestic energy demand and serve international customers.
