Stena Bulk, a leading tanker shipping company, has signed an agreement covering the charter of the LNG carrier Stena Blue Sky for the North West Shelf Project in Australia.

The duration of the charter is up to three years with a possible further extension as a goal, said a statement.

The contract was signed at current market freight rates and the tanker will sail between Australia and Japan as well as other countries in the Far East.

The North West Shelf Project is Australia’s largest oil and gas development and has delivered more than 4000 LNG cargoes to customers predominantly in the Asia Pacific region since 1989.

Erik Hånell, chief executive officer of Stena Bulk, said: “We are pleased with the charter signed with the North West Shelf Project, which we view as a key strategic partner within a market with tremendous growth prospects. As always, we take the long-term view and are looking forward to developing the potential we see here.

“Since 2011, we have very quickly become established in the transportation of liquid natural gas and we have developed a good reputation in the market where quality and safety are paramount. We regard the LNG segment as a continuing and long-term investment where, additionally, our successful technical management plays a prominent role.”

In addition to the Stena Blue Sky, Stena Bulk also owns two modern Tri-Fuel Diesel Electric vessels.

The Stena Crystal Sky, which is on a medium term charter until this autumn and the Stena Clear Sky which was recently redelivered from a three year charter. - TradeArabia News Service