Middle Eastern shipowner Adnoc Logistics & Services is offering one of its steam turbine LNG carriers for sale within weeks of ordering a tranche of newbuildings as it expands and renews its fleet.
Specialist brokers said the Abu Dhabi-listed, Adnoc-controlled company is seeking bids on the 137,500-cbm Ghasha (built 1995).
They said the company is open to trading or demolition offers on the Japanese-built, Moss-type LNG carrier.
The 33,400-ldt vessel is being offered on a charter-free basis and is currently in Fujairah.
In December 2022, infrastructure developer AG&P International Holdings said it had signed an 11-year charter deal with Adnoc L&S on the Ghasha with an option to extend the hire by a further four years.
This was for use as a floating storage unit for a planned project in India that was due to be commissioned in the second half of 2024.
At the time, the project was not identified and with the planned sale of the vessel, it would appear that AG&P no longer has a use for it.
The company has been contacted for clarification.
AG&P LNG has since been bought by the company’s now main shareholder, Nebula Energy.
The two Middle Eastern-headquartered companies have worked together before.
AG&P has taken two more vessels from Adnoc L&S — the 137,315-cbm Ish (built 1995) to work as an FSU for its LNG import terminal at Batangas Bay in the Philippines. In 2020, the companies struck a 15-year charter deal on Adnoc L&S’ 137,540-cbm Al Khaznah (built 1994).
Adnoc L&S is going big on fleet expansion and renewal.
At the end of June, Adnoc L&S inked contracts with two South Korean shipyards for up to 10 LNG carrier newbuilding. The company also has six LNG carriers on order at Jiangnan Shipyard in China that start delivering from 2025.
These new LNG carriers, with capacities of 174,000 cbm and 175,000 cbm respectively, will be significantly larger and more efficient than the company’s older steamships
In June, parent Adnoc took a final investment decision to build its planned 9.6m tonnes per annum Ruwais LNG plant, which will more than double the company’s production capacity to around 15 mtpa. This week Shell announced it is taking a 10% stake in the project.
