Haynes and Boone Negotiates LNG Carrier Contracts for TMS Cardiff Gas
January, 2018 - Dallas, Texas
Partner Andreas Silcher in Haynes and Boone's London office represented TMS Cardiff Gas in its contract with Hyundai Heavy Industries of Korea (HHI) for the construction of one 174,000 cubic meter LNG carrier with XDF propulsion, plus an option for a second vessel.
In a press release, TMS Cardiff Gas called the order the first in the company's X Carrier Series of orders, which expands the company's fleet of managed vessels to 10. The vessel is scheduled for delivery in 2020, when she will enter into a seven-year time charter contract with TOTAL Gas & Power Chartering, Limited. Andreas also represented TMS Cardiff Gas on the charter contract.
The order also marks the company's further expansion into the LNG sector with secured term employment upon delivery, the release said, and the company maintains its appetite for further growth in the sector, as reflected by the additional capacity made available with optional vessels for delivery in 2020 and 2021.
TMS Cardiff Gas Founder Christos Economou said in the release: "We are delighted to secure a new long-term time charter with TOTAL, one of the leading global energy companies. TOTAL is an important customer for TMS Cardiff Gas, and we look forward to providing them with first-class LNG shipping services as they continue to expand their LNG activities."
Andreas has more than 10 years of experience in the maritime, oil and gas, and finance sectors focusing on a wide range of commercial transactions, from negotiating shipbuilding contracts to structuring complex multinational joint ventures, focusing in particular in the LNG and LPG sectors.
