Kumiai Navigation offloads VLGC

Kumiai Navigation offloads VLGC

Singapore-based Kumiai Navigation has sold its 2001-built 79,500 cu m VLGC Ocean Orchid, as it looks to optimise its LPG tanker fleet.

According to shipbroking sources, the 18-year-old Japanese-built vessel, the oldest in Kumiai’s LPG fleet, has been sold to a Middle Eastern buyer for $24m.

The sale will downsize the company’s current LPG carrier fleet to three vessels.

Traditionally a bulker owner, Kumiai Navigation is expanding its gas carrier fleet with four LPG carriers under construction at Japan’s Kawasaki Heavy and Sasaki Zosen. All the vessels are scheduled for delivery this year and next year.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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