IM Skaugen sells three 9,600 dwt LPG/ethylene carriers

Norwegian owner IM Skaugen is to sell three 9,600 dwt LPG/ethylene carriers under construction in China to Teekay LNG partners for US$87m en bloc and then lease them back. Under an agreement in principle reached by the two companies the ships will be leased back for 15 years with five-year extension options and fixed price purchase options at the end of each of the lease periods.A Skaugen statement says that the arrangement will allow it to “monetise some of its assets and realise a gain”. The deal will help the company pay for 16 new gas carriers it is building in China.