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. 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