South Korea’s Sinokor Merchant Marine is reactivating some of its LNG carrier tonnage from lay-up as the market begins to rise for winter.
Sources revealed the company is in the process of returning four of its steam turbine vessels to the market after putting them into a yard for upgrades and refurbishment.
They named the ships as the 125,568-cbm Adriatic Energy (ex-Echigo Maru), 125,556-cbm North Energy (ex-WilEnergy, both built 1983), the 125,631-cbm Mediterranean Energy (ex-WilGas, built 1984) and the 125,660-cbm Baltic Energy (ex-Wilpower, built 1983).
Ship tracking data shows the Adriatic Energy and North Energy are in a yard in Shanghai.
Fixed ships
Sinokor has two more steam turbine LNG carriers, the 138,000-cbm Merchant (ex-British Merchant) and 138,000-cbm Singapore Energy (ex-British Innovator, both built 2003), fixed on period business to BP and Centrica, respectively.
In addition, the South Korean owner has two LNG carriers currently open for business in South East Asia. These are the 127,180-cbm Grace Energy (ex-LNG Swift, built 1989) and the 140,708-cbm HongKong Energy (ex-Northwest Swan, built 2004).
Rates for LNG carriers have been rising across all ages with levels for steam turbine ships currently pegged at about $60,000 per day.
Sinokor, which contracted four LNG carrier newbuildings this year, operates a fleet of 15 vessels with seven in lay-up.
