Singapore's Kumiai Navigation has sold its oldest vessel amid a renewal of its VLGC carrier fleet.
The company, a unit of Japanese shipowner Kumiai Senpaku, has confirmed that it sold the 80,000-cbm Crystal Marine (built 2003) for $37m.
Brokers said that Basundhara Group purchased Kawasaki Heavy Industries-built Kawasaki Heavy Industries-built VLGC. However, Kumiai said the Bangladeshi company did not buy the vessel, though it declined to identify the true buyer.
Basundhara did not respond to requests for comment.
For Kumiai Navigation, the sale of the Crystal Marine comes as it gears up to take delivery of a newbuilding that will replace it.
The company is listed with five VLGCs among its 19 ships, and it has three of the large LPG carriers on order. All eight VLGCs are built at Kawasaki Heavy Industries.
One of those vessels is due for delivery from the Japanese shipbuilder this year.
In early December, Kumiai Navigation managing director Tomomaru Kuroyanagi confirmed to TradeWinds that the Singapore-headquartered company was putting the Crystal Marine up for sale.
The effort started as the ship prepared to come off charter to Astomos Energy.
Parent Kumiai Senpaku also has a VLGC among its 17 vessels.
The Crystal Marine would not be the first VLGC of the Crystal Marine's vintage that Basundhara has added to its fleet, which stands at 18 ships.
In August, the company picked up the 82,000-cbm sistership Avance (built 2003) from John Fredriksen-controlled Avance Gas for $35m, in an off-market deal.
That ship has been renamed Basundhara LPG Challenger.
