BIMCO to create first CO2 time charter party

BIMCO has started work on developing a new time charter party specifically designed for the maritime transportation of carbon dioxide (CO2). This ‘industry first’ will be particularly relevant for the emerging carbon capture and storage (CCS) market, which is part of global efforts to combat climate change. Christian Hoppe, General Counsel highlights that the target

Bahri takes two methanol tankers on charter

Saudi Arabia’s flagship carrier Bahri has penned a long-term deal with Swiss methanol producer and tanker owner Proman to charter in two of its methanol-powered ships. The company’s chemical arm has taken the Guangzhou Shipyard International 2023-built 49,900 dwt MRs Stena Provident and Stena Progressive on hire for five years. The vessels are the final

GasLog fixes two LNG carriers on charter agreement

Peter Livanos-controlled GasLog has locked away two of its liquefied natural gas(LNG) carriers on time charter agreements. In its second-quarter results statement, the Greek gas ship owner and operator said it had agreed a multi-year charter deal with Kansai Electric-affiliated KE Fuel International for the 2014-built 155,000 cu m tri-fuel diesel electric (TFDE) carrier Solaris.

MOL and Mitsubishi Gas agree on charter deal

Mitsui O.S.K. Lines (MOL) has signed a basic agreement with compatriot Mitsubishi Gas Chemical Company for a long-term charter of a dual-fuel methanol carrier. Since MOL delivered Japan’s first methanol carrier, the Kohzan Maru (first generation), to Mitsubishi Gas Chemical in 1983, the two companies have built a partnership centered on the ocean transport of

Dynagas LNG Partners enter into charter deal

Dynagas LNG Partners has struck a new time charter deal with Equinor for the ice-class LNG carrier Arctic Aurora. The Tony Lauritzen-led owner of six LNG ships said the charter would last for about three years, adding about $116.5m to the revenue backlog. The deal will see the 2013-built ship delivered to the Norwegian energy

MOL signs charter contract with GAIL for LNG carrier

Japan’s Mitsui OSK Lines (MOL) and state-run GAIL (India) Ltd have signed a time charter contract for a newbuild liquefied natural gas (LNG) carrier, and for joint ownership of an existing LNG carrier. The newbuild vessel will be built by South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (042660.KS) with a charter period from 2023,

NYK wins LNG charter contract with Q United Energy

Nippon Yusen Kaisha (NYK) has won a long-term LNG charter contract with Q United Energy Supply & Trading, a subsidiary of compatriot Japanese firm Kyuden Group, which runs utility Kyushu Electric Power Co. NYK has contracted South Korea’s Samsung Heavy Industries to build a 174,000 cu m ship for delivery in 2024. However, prices for