TMS Cardiff Gas: Time charter with TOTAL for 7 years; Newbuilding orders of X Carrier Series of LNG ships

TMS CARDIFF GAS

TMS Cardiff Gas has signed a contract with Hyundai Heavy Industries of Korea (HHI) for the construction of one 174,000 cubic meter LNG carrier with XDF propulsion, with an option for a second vessel. 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 she will enter into a seven year time charter contract with TOTAL Gas & Power Chartering, Limited.

The vessel will be built to the highest industry specifications, as per TMS Cardiff Gas standards.

This order marks the Company’s further expansion into the LNG sector with secured term employment upon delivery. The Company 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.

Christos Economou, Founder of TMS Cardiff Gas, commented: “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.”

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