Overview
- On January 27, signing ceremonies at India Energy Week in Goa formalized a long-term charter for the LNG carrier GAIL Bhuwan and a separate term sheet for joint ownership of another LNG vessel.
- MOL’s JV with GAIL, LNG Japonica Shipping Corporation (MOL 74%, GAIL 26%), signed the long-term charter covering the GAIL Bhuwan carrier.
- K Line, GAIL and J M Baxi agreed in principle to take equity in a Singapore-based ship-owning company for an LNG carrier under construction at Samsung Heavy Industries.
- Upon delivery, the K Line–linked vessel is slated to operate under a long-term time charter with GAIL, with the charter starting in 2027 according to company disclosures.
- GAIL’s planned equity investment will be made through GAIL Global IFSC Limited subject to DIPAM approval, with the companies framing the moves as strengthening India’s maritime energy logistics under national strategy objectives.