No work for Petronet-LNG tanker Prachi

Vol 20, PW 15 (20 Apr 17) News in Brief

Not only is Petronet-LNG's Kochi terminal stranded but the latest addition to its fleet of LNG tankers hardly has any work.

With its 173,000 cubic metre capacity, Prachi is the largest of Petronet-LNG's four tankers. But unfortunately it's been sitting idle at anchorage for almost a month after last landing an Australian cargo at Dahej on March 24.

A source warns that Petronet-LNG had better hurry up and deploy Prachi to good use. Hired at $78,000/day, he says, "Prachi is expensive if it sits idle!" Other Petronet-LNG tankers Disha, Raahi and Aseem each make around three round trips a month from Qatar to Dahej.

Petronet-LNG hired the $205m Hyundai-built Prachi in December 2016 on a 19-year contract to ferry long-term LNG from Gorgon to Kochi. When contacted a Petronet-LNG source said: "Prachi finally left for Australia on late Wednesday evening (April 19) to load a Gorgon cargo." On February 14, Petronet-LNG also invested Rs100cr ($15m) to buy 26% in Singapore-based India LNG Transport Company Number 4, which operates Prachi.

Prachi delivered its maiden 170,370-cubic metre Exxon Mobil cargo from Gorgon to Dahej on January 27.