Pan Ocean Co has entered into a time charter contract for a liquified natural gas (LNG) bunkering vessel with Shell NA LNG on April 9 for estimated total sales of approximately US$55 million ($73.63 million).

SEE:Yangzijiang, Raffles Medical, TEE International, Sembcorp, SembMarine, Singapore eDevelopment, Low Keng Huat, China Everbright Water, Noel Gift, Pan Ocean Co.

The contract will start from May 2023 and includes two extension options. The total duration of the contract is up to 8 years, subject to Shell’s decision on the extension options.

As at 10.02 am, shares in Pan Ocean are trading flat at $5.50.