New LNG Vessel for Petronet LNG Delivered

December 07, 2016

Mitsui O.S.K. Lines Ltd.
Nippon Yusen Kabushiki Kaisha
Kawasaki Kisen Kaisha Ltd.
The Shipping Corporation Of India Ltd.

A consortium comprising Mitsui O.S.K. Lines, Ltd. (MOL), Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha, Ltd. ("K" Line), and the Shipping Corporation Of India Ltd. (SCI) took delivery of a new LNG vessel on November 30, 2016, in South Korea.

The vessel, PRACHI, has a capacity of 173,000 m³ and was built to order by Hyundai Heavy Industries Co. Ltd. based on a long-term time charter contract with Petronet LNG Limited (PLL). A naming ceremony for the ship was held on October 18, 2016.

PLL, India's first importer of LNG, currently brings in 7.5 million tons of LNG a year from Qatar using three LNG carriers. PRACHI is the fourth vessel for the transport of LNG to India and will be employed in the Gorgon LNG Project in Australia.

SCI has been operating and managing all the LNG tankers that are under long term charter with Petronet LNG Ltd. SCI also takes over as manager of PRACHI since delivery on November 30, 2016.

The four-company consortium will make every effort for safe transportation using this advanced new vessel, which is expected to contribute to the steady supply of LNG to India as energy demand continues to grow.

Naming ceremony on October 18

[ Outline of PRACHI ]

Length overall	: 294.97 meters
Breadth	: 45.60 meters
Summer molded depth	: 12.50 meters
Gross tonnage	: 112,791 tons
Cargo tank capacity	: 90,328 tons
Shipbuilder	: Hyundai Heavy Industries Co. Ltd.
Flag	: Singapore

[ Outline of Charter Contract ]

Owner	India LNG Transport Company (No. 4) Private Limited (Headquarters: Singapore), JV by MOL,NYK, "K" Line, and SCI
Charterer	Petronet LNG Limited
Charter period	19 years
Vessel	One new membrane-type LNG carrier (173,000 m3)
Shipbuilder	Hyundai Heavy Industries Co. Ltd.
Ship management	The Shipping Corporation Of India Ltd