Astomos Energy and Nippon Yusen Kaisha (NYK) have signed a new time charter contract for a very large gas carrier (VLGC).
The vessel, which is to be built by Mitsubishi Heavy Industries, will be chartered from Kyoei Tanker and assigned to a service designated in a five-year charter contract with Astons.
In a statement, NYK says that the new deal forms part of its medium-term management plan to “encourage creative solutions to its efforts to contribute to stable and economical LPG transport services."
This is the 11th VLGC for Astomos. The company is looking to increase its LPG handling volume from 10 million tons per year to 12 million tons per year by 2017 as part of its medium term plan.
The new VLGC will be delivered in the second quarter of 2017