Nauticor Takes Option to be Sole Charterer World's Largest Bunkering Ship

Tuesday April 30, 2019

Nauticor today said it has exercised an option to become the sole charterer of Kairos, the world's largest LNG bunkering vessel.

The 7,500 cbm capacity vessel was delivered to owner Bernhard Schulte in October last year and is currently chartered by Blue LNG, a joint venture between Nauticor (90%) and Klaipedos Nafta (10%).

"By having 100% control over Kairos, we can deploy the vessel at the LNG bunkering "hotspots" without having the obligation to deviate to Klaipeda on a regular basis. Hence we will be able to fully focus on our customers' scheduling requirements," Nauticor CEO, Mahinde Abeynaike, explained.

KN's 10% stake will transfer to Nauticor effective September 30th, 2019.

"Several years ago when the agreement on partnership to charter the vessel Kairos was concluded, there was a lack of LNG transportation services in the market. Therefore, we decided to become charterers of one of such vessels," said Mindaugas Jusius, CEO of KN.

"At that time, it was the only possibility for KN to assure the full LNG supply chain for its customers. There have been new possibilities for LNG transportation emerging in the region recently."