Pan Ocean LNG Carrier 'New Brave' Acquisition... Fulfillment of Long-term Contract with UK Shell

Acquisition of 3 Additional Vessels Within the Year
Transporting Shell's Cargo for the Next 13 Years

Pan Ocean has acquired one eco-friendly, high-efficiency liquefied natural gas (LNG) carrier from HD Hyundai Heavy Industries. This vessel is scheduled to be deployed to handle long-term contract volumes with the UK-based company Shell.

On the 12th, Pan Ocean announced that it had taken delivery of the ultra-large LNG carrier New Brave at HD Hyundai Heavy Industries in Ulsan. The vessel measures 299 meters in length, 46.4 meters in width, and 26.3 meters in depth, with a capacity of 174,000 CBM, capable of transporting LNG equivalent to about half of South Korea's daily LNG consumption. Equipped with a dual-fuel engine, it is an eco-friendly, high-efficiency ship that reduces emissions of harmful gases such as nitrogen oxides (NOx) and sulfur oxides (SOx), while also enabling fuel cost savings.

The New Brave was delivered to fulfill a long-term contract signed in 2020 with the UK energy company Shell. It is the first of two newly built vessels named by Sophia Lim, the godmother and spouse of Joshua Lim, Shell's global head of LNG trading. The second vessel, New Nature, is scheduled for delivery next month. Pan Ocean also plans to acquire two additional vessels contracted with Shell in 2021 within this year. These vessels will transport LNG worldwide for up to 13 years.

A Pan Ocean official stated, "We will continue to expand our LNG business to respond flexibly to the increasing uncertainties and the growing demands for carbon reduction in the maritime transport sector."

Last month, officials are taking a commemorative photo at the naming ceremony of the New Brave and New Nature ships held at the Ulsan HD Hyundai Heavy Industries shipyard. (Photo by Pan Ocean)

This content was produced with the assistance of AI translation services.