Höegh LNG offloads old star

Oslo: Höegh LNG has announced the sale of ageing 126,400 cu m LNG carrier LNG Libra (72,650 dwt, built 1979) to a Chinese energy company.

The vessel has been sold for close to $20m with a 15% deposit paid by the buyer already.

Sveinung J. S. Støhle, President and CEO of Höegh LNG, commenting on the sale said: “LNG Libra was acquired to meet the bid conditions a specific FSRU project as a conversion candidate, however, we succeeded in placing one of our newbuild FSRUs instead. Since HLNG’s main focus is newbuild FSRUs and these have become the preferred solution among LNG importers, LNG Libra is today a non-core asset, and therefore we are very pleased with having completed this transaction in a very challenging LNG shipping market.”

The remaining 85% payment is due after the vessel completes its current charter with Gas Natural, around the end of the first quarter 2016.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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