Naftomar Shipping and Trading has sent its 12,000-cbm LPG carrier Gaz Palmyra (built 1984) for recycling at Alang.
According to Shipbreaking sources in Alang, the ship was beached on Monday afternoon at the Rai Metal Works plot. Its name had been shortened to Palm for its final voyage from Khor Fakkan.
The yard is one of India’s Hong Kong Convention-compliant yards, suggesting that Naftomar has opted for green recycling.
SnP broking sources suggest that the ship was sold for $2.4m, which equates to $428 per ldt.
The Gaz Palmyra has been in the Naftomar fleet since being acquired as Miskar in 1994. This made the ship the company’s longest serving vessel, as the next oldest vessel it owns was built only in 1995.
Earlier this month Naftomar sold a vintage VLGC, the 78,000-cbm Gaz Supplier (built 1990) for $10.5m. While the ship has been the subject of scrapping rumours since the end of last year, the sale price, which is just over $3m higher than the $7.2m that online platform VesselsValue suggests the ship is worth for scrap, would indicate that it may have gone for further trading.
The Gaz Supplier’s automatic identification system (AIS) indicated this week that it was anchored off Khor Fakkan
