Q-Ship inks gas carrier deal

QATAR Shipping Company (Q-Ship) inked the largest deal in its history by signing a letter of intent with Hyundai Heavy Industries, Korea, to build four identical 82,200 cbm very large gas carriers (VLGCs), for delivery in 2008-2009.

The ?design, build, launch, equip and deliver? deal is worth about $385 million and is part of Q-Ship?s fleet renewal/expansion programme. A company official said: “This acquisition will help us meet the growing demand for gas transportation. These ships will join Q-Ship?s fleet starting the second quarter of 2008 and will be classed by DNV. The newbuildings will be operated on spot and/or time charter, depending upon market conditions.