Höegh LNG and Cheniere enter time Charter for LNGC

Höegh LNG Holdings Ltd. and Cheniere Marketing International LLP entered an 18 month time charter for the liquefied natural gas carrier (LNGC), Höegh Galleon.

Constructed by Samsung Heavy Industries Co., the vessel will be delivered in September 2019 and will serve the AIE project in Port Kembla, Australia, where Höegh LNG will provide floating storage unit regasification (FSRU) services.

Under the contract with Cheniere, Höegh Galleon will earn a fixed daily charter rate.

Sveinung J.S. Støhle, President and CEO of Höegh LNG, says, “This charter party will cover the period from delivery of Höegh Galleon until its planned start-up in Port Kembla. Combined with a finalized AIE contract and the project’s FID, Höegh Galleon will have long-term contract coverage in line with HLNG’s stated strategy.”