Golar LNG and Cosco Shipping Development Co (CSDC) have entered into a sale-and-leaseback agreement for a 2014-built LNG carrier.
The Chinese owner is paying $187m for the 160,000-cbm Golar Crystal, which will then be chartered back to Golar LNG for 10 years.
CSDC, the former China Shipping Container Lines (CSCL), explained this move would help its transformation into a financial services platform.
“The sale-and-leaseback arrangement would facilitate the expansions of the group’s ship leasing business and enhance the profitability of the group,” it added.
Golar LNG used the sale-and-leaseback method to refinance one of its ships again last summer.
Golar LNG has predicted higher demand for LNG carriers by this year’s end.
