Qatar Shipping buys two large LNG carriers

Qatar Shipping buys two large LNG carriers

Athens: Qatar Shipping Company, part of Milaha, has acquired the remaining 60% interests in two LNG carriers for an undisclosed sum from French bank Société Générale.

The Korean-built vessels Milaha Ras Laffan (138,273 cbm, built 2004) and Milaha Qatar (145,602 cbm, built 2006) are currently both on 25-year timecharters to RasGas, with 14 years and 16 years remaining on their respective contracts.

VesselsValue.com estimates the ships to be worth $101.8m and $$115.3m respectively.

“This transaction reflects our disciplined execution of our long-term strategy of investing in core businesses. We have a strong momentum and believe that we can sustain our growth and continue to execute on our strategy,” said Sheikh Ali bin Jassim Al Thani, chairman of Milaha, said in an exchange filing.

The vessels have been operating as part of Qatar Shipping’s joint venture with the Denmark-based Malt LNG pool.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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