Cool Ltd 's Comment on Competition and Industry Peers
The company operates in the LNG shipping market, which is highly competitive. Competition for LNG time charters of one year or longer is influenced by factors such as price, ship availability, size, age, technical specifications, condition, LNG shipping experience, quality and efficiency of ship operations, industry relationships, safety performance reputation, customer service, and technical capability. Vessels may also participate in the spot market for short-term charters or single voyages. Some customers, including LNG producers, commodity traders, and international and national oil and gas companies, own large fleets of LNG carriers that compete with independent owners like the company.
May 16, 2024
CoolCo Enters Into a Long-Term Charter With GAIL (India) Limited for Newbuild LNG CarrierLONDON - Cool Company Ltd. (NYSE: CLCO / CLCO.OL, CoolCo or the Company), a leading player in the global LNG shipping industry, has recently announced a significant development in its operations. The company has entered into a 14-year Time Charter Party with GAIL (India) Limited (GAIL), India s premier natural gas company, for one of its two newbuild LNG carriers, currently under construction.Under the terms of the agreement, CoolCo will deliver the newbuild LNG carrier to GAIL in the Gulf of Mexico, with the 14-year time charter commencing in early 2025. This strategic partnership aligns CoolCo s expertise in the LNG ...
Sources:
Cool Company Ltd’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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