2009-built VLGC Karoline N fetches record time charter

A time charter for a very large gas carrier has been reportedly extended for two years at a monthly rate of $2.8M, an amount that industry sources believe is an all-time high.

Brokers told IHS Maritime that Hamburg-based Neu Gas Shipping International's 2009-built Karoline N was chartered for $2.8M/month, for two years. Sources indicate the charterer could be Mexican LPG trader Texas Gas & Oil.

Traders told IHS Maritime that Texas Gas & Oil is an LPG supplier to Guatemala, which would necessitate a transit through the Panama Canal. "But sometimes, Texas Gas & Oil sells its shipments to other traders so that again could be why it wants a ship that can transit the Panama Canal to reach Asian buyers," said a Singapore-based trader.

*NEWS SOURCE