Japan's Mitsui OSK signs charter with India's GAIL for LNG carrier

[1/2] The logo of Mitsui O.S.K. Lines is seen at the company's headquarters in Tokyo, Japan September 11, 2020. REUTERS/Kim Kyung-Hoon

SINGAPORE, Dec 21 (Reuters) - Japan's Mitsui OSK Lines (MOL) (9104.T) and state-run GAIL (India) Ltd (GAIL.NS) have signed a time charter contract for a newbuild liquefied natural gas (LNG) carrier, and for joint ownership of an existing LNG carrier.

The newbuild vessel will be built by South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (042660.KS) with a charter period from 2023, according to a joint statement by MOL and GAIL on Wednesday.

This is the second charter agreement for an LNG carrier signed between MOL and GAIL, which is India's largest gas distributor, it added.

The first carrier, under the agreement signed in 2019, ships LNG from the U.S. Gulf Coast to India.

Reporting by Emily Chow; Editing by Rashmi Aich

Our Standards: The Thomson Reuters Trust Principles.

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