Greek shipowner TMS Cardiff Gas has exercised options for two very large gas carrier (VLGC) newbuildings and said it "maintains its appetite for further growth in the sector".
The ships, to be built at South Korea's Hyundai Heavy Industries (HHI), will hit the water in the fourth quarter of 2017 into 10-year time charters with Clearlake Shipping, a subsidiary of Switzerland-based trading firm Gunvor Group.
At 78,700m3, the vessels are able to transit the Panama Canal and at that size are the largest VLGCs able to do so. Most VLGCs set for delivery over the next two years are larger 84,000m3 vessels. Panama-capable VLGCs cut Houston-Chiba sailing days by approximately 17 days.
TMS Cardiff Gas entered the LPG shipping sector in October, ordering two 78,700m3 VLGCs from HHI. The ships will hit the water in the second and third quarters of 2017 and will enter directly into time charter contracts with Shell.
