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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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