Greece’s Eletson Corp has divested its oldest LPG carrier in what seems to be its first straight sale of such a ship in years.
The 23,000-cbm Mathraki (built 2003) has been sold to Soechi Lines of Indonesia for $16m, London-based brokers reported.
"Eletson did not respond to a request for comment. A Soechi spokesperson said the information was "not correct".
The Mathraki is currently trading in the Singapore-based E3 Pool, which brings together the semi-refrigerated, ethylene-capable vessels of Eletson and Danish peer Evergas.
In terms of its of its age, the Mathraki is a much better fit for the small LPG fleet of purported buyer Soechi Lines, in which it would be the youngest unit.
Soechi Lines is listed with four LPG carriers, comprising one VLGC and three fully-pressurised vessels with an average age of 22 years.
The 78,500-cbm VLGC Yuhsho (built 1999) is Soechi Lines’ most recent addition.
Soechi Lines has about 40 tankers and gas carriers, and said in its latest annual report that it sees potential for further growth in this area.
“[It has] wide opportunity to continue its growth, as oil and gas are estimated to continue the role to supply some part of Indonesia’s energy demand for at least in the next 30 years,” the document reads.
Soechi Lines entered the gas carrier business in 2010, according to available records.
The company has been far busier expanding in tankers lately.
Its last four reported ship purchases since July last year have been crude oil and product carriers.
Eletson has taken delivery of two aframax newbuildings, the 109,000-dwt Folegandros and Kastelorizo from Shanghai Waigaoqiao Shipbuilding this year.
Eletson lists 25 tankers and 15 gas carriers on its website. That includes the reportedly sold Mathraki and the gas carriers managed in the E3 Pool.
This article has been updated to add comments from Soechi.