DSME lands Knutsen LNG order

Knutsen OAS Shipping in Norway has been awarded a long-term time charter with the Spanish energy company Repsol for two LNG new buildings. The two vessels will be delivered from Daewoo Shipbuilding & Marine Engineering (DSME) in 2010. Both are secured 20 years employment with 5 respectively 15 years options.

The ships? capacities will be 173,000 cbm. At the same time, the option for a third ship, also due to be delivered in 2010, was declared. The three LNG tankers will be larger than the LNG tankers operated by the company today and will be powered by a diesel-electric propulsion system. The contract Knutsen OAS signed with Repsol is the largest single contract in the company history.