Shell signs charters for six newbuild LNG carriers

Shell has signed term charters for six 174,000m³ new LNG carriers, scheduled for delivery from mid-2023.

The firm will charter two vessels each from Norway's Knutsen OAS, South Korean owner Korea Lines and Chinese banking firm ICBC. All six carriers will be built by Korea Shipbuilding and Offshore Engineering (KSOE) subsidiary Hyundai Heavy Industries and Hyundai Samho Heavy Industries.

It is unclear whether the new charters are linked to existing vessel orders, or the owners have sought to secure charters to underpin the financing for new orders. Korea Lines already has two orders with Hyundai Samho for delivery in 2022, both under separate charters with Shell. And Knutsen has four orders on Hyundai Heavy's books, also scheduled for 2022. All six orders are for 174,000m³ carriers. KSOE also received four orders last week — two each from a Bermuda-based owner and a European firm, with the company not giving the names of either.

By Samuel Good