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    Shell Pens Charter Deal for Four LNGCs


The Anglo-Dutch major has chartered 14 more of the same vessel class over the past year.

by: Shardul Sharma

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Shell Pens Charter Deal for Four LNGCs

Shell on December 15 said it had signed agreements to charter four LNG carriers from Knutsen LNG, Pan Ocean Co, and investors advised by JP Morgan Asset Management. The 174,000-m3 LNGCs will be built by South Korea’s Hyundai Heavy Industries and Hyundai Samho Heavy Industries.

“These ships will play a key role in lowering emissions from the Shell time charter fleet,” said Grahaeme Henderson, head of shipping & maritime. “As well as reducing emissions from our own operations, we are actively working with the industry to help accelerate shipping’s progress towards net-zero.”

The ships will have MEG4-compliant moorings, dual-fuel X-DF engines, boil-off management plants, air lubrication systems and shaft generators for auxiliary power along with optimised hull and design speed, Shell said.

“This will deliver around a 50% reduction in carbon emissions compared to 2008 steam turbine LNG carriers and, as part of Shell’s time-charter fleet, each vessel’s performance will be optimised by analysing real time data from the ships and deploying Shell’s proprietary draft and trim optimisation software, Jaws, to enable further efficiencies and emission reductions,” the company said.

Delivery will take place from mid-2024. Shell announced long-term charter agreements for eight ships of the same class in December 2019 and six others in August this year.