NYK, GAIL ink multi-year charter for LNG carrier

Nippon Yusen Kabushiki Kaisha (NYK) and Indian state-owned natural gas company GAIL have entered into a multi-year time-charter contract for an LNG carrier.

The vessel that will serve the charter is Grace Emilia, which has a total cargo capacity of 174,000 cubic metres and a re-liquefaction system that can use re-liquefied excess boil-off gas and return it to the cargo tanks.

NYK said it entered into discussions with GAIL on a possible vessel time-charter after it recognised the potential increase in demand for LNG in the Indian market.