SCI Led JV Takes Delivery of LNG Carrier “PRACHI"

A Joint Venture comprising The Shipping Corporation of India Ltd. (SCI), Nippon Yusen Kabushiki Kaisha (NYUKF) (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and Petronet LNG Ltd (PLL), have taken delivery of a new build Liquefied Natural Gas (LNG) carrier MT “PRACHI” having a capacity of 173,000 m3, from Hyundai Heavy Industries Co. Ltd. South Korea on 30th November, 2016.

Simultaneously, the vessel has been delivered to Petronet LNG Ltd, New Delhi India’s first importer of LNG on a 19 year charter. Since 2004, Petronet has imported 5 million tons of LNG a year from Qatar, and an additional 2.5 million tons per year since 2009, using three LNG carriers. The new LNG carrier will be employed for transporting 1.44 million tons LNG from Gorgon LNG Project, Australia to India.

The joint venture partners comprising SCI, MOL, NYK and K-Line that owns MT Prachi, also operate the three vessels already in service, viz., SS Disha, SS Raahi and MT Aseem, and will continue to ensure a steady supply of LNG to India, where energy demand continues to grow.

The Shipping Corporation Of India Ltd. (SCI) holds 26% share in the fourth LNG tanker company that owns MT Prachi. SCI has been operating and managing all the LNG tankers that are under long term charter with Petronet LNG Ltd. SCI has taken over as Manager of MT Prachi since delivery on 30th November, 2016, the fourth LNG vessel under SCI’s umbrella SCI’s Chairman & Managing Director, Capt Anoop Kumar Sharma conveyed his greetings on this occasion to all the joint venture partners.

CMD, SCI also stated that The Shipping Corporation Of India Ltd, along with the Japanese partners brought in the first LNG import shipment to Indian shore more than a decade ago. SCI is the only Indian shipping company that has gained expertise in LNG tanker operations and management. SCI has developed a large pool of personnel who are trained in LNG tanker operations both afloat and ashore. SCI is now well equipped and geared up to cater to India’s future LNG demand.

India’s LNG transportation is going a long way in building stronger bonds with Japanese shipping companies that augurs well for the growth and development of LNG shipping in India.