Trader Gunvor concluded 50 LNG ship charters this year as its long-term freight requirements expand.
The company said it “remains the largest charterer of LNG vessels”.
Gunvor currently has 15 LNG carriers on time charter.
Last month the trader's shipping arm, Clearlake Shipping, was seen chartering in a Flex LNG newbuilding for up to 10 years. The 173,400-cbm vessel, which is to be named Flex Artemis, is due to start the five firm years of the charter period on its delivery from shipyard DSME in August 2020.
Giving out figures on LNG shipping, the trader said in 2018 it concluded over 25 spot to multi-voyage fixtures.
Gunvor’s co-head of LNG Kalpesh Patel said: “While more than 60% of Gunvor's volumes delivered in 2018 were under mid- to long-term contracts, that percentage will also increase, as we are progressing on a number of long-term initiatives around the world, including expanding our portfolio of vessels secured on a long-term charter.”
The trader said it will deliver 16m tonnes of LNG this year, 45% increase on the 11m tonnes logged a year ago.
The company has seen its volumes grow from 4m tonnes in 2016, to 7m tonnes a year later.
Gunvor said India was its largest market, with the company delivering 75 cargoes into terminals there during 2019.
Reflecting on another year of LNG business growth, Patel added: “Despite the near-term bearish sentiment in the LNG and natural gas markets, Gunvor remains positive on growth of natural gas within the energy mix for future.”
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