Hoegh (Norway) sells elderly LNG carrier
Norwegian-based Höegh LNG is selling its 1974-built LNG carrier Höegh Galleon to Maverick LNG Holdings, a joint venture between North Atlantic Pipeline Partners LP and LNG Partners, on “private terms”.
According to Höegh the ship will be delivered between July and October this year to the buyer which intends to use the vessel as temporary LNG storage associated with their LNG transhipment and storage projects, including prospective power generation development.
Alternatively, according to Höegh, Maverick is considering specialized deployment as the company has completed extensive engineering associated with various Höegh Galleon conversion alternatives including FSRU (Floating Storage Regas Unit) and FLNG (Floating Liquefaction of Natural Gas) options. The 87 000 cubic metre capacity Höegh Galleon was built in 1974 and was acquired by Höegh LNG in 1998 and rebuilt to high standard. The vessel operated under a long term time charter to Suez LNG North America until 2006 when Suez LNG North America ordered the vessel in lay-up and later terminated the charter originally valid until 2017 against a cancellation fee. "Höegh Galleon has operated successfully under its time charter to Suez, and with this sale the Vessel has been an extremely good project for Höegh LNG," says Sveinung Støhle, CEO in Höegh LNG. "The sale supports our strategy to venture into new parts of the LNG supply chain as it has opened up for exploring further cooperation and participation with the buyer and their projects.
According to Höegh the ship will be delivered between July and October this year to the buyer which intends to use the vessel as temporary LNG storage associated with their LNG transhipment and storage projects, including prospective power generation development.
Alternatively, according to Höegh, Maverick is considering specialized deployment as the company has completed extensive engineering associated with various Höegh Galleon conversion alternatives including FSRU (Floating Storage Regas Unit) and FLNG (Floating Liquefaction of Natural Gas) options. The 87 000 cubic metre capacity Höegh Galleon was built in 1974 and was acquired by Höegh LNG in 1998 and rebuilt to high standard. The vessel operated under a long term time charter to Suez LNG North America until 2006 when Suez LNG North America ordered the vessel in lay-up and later terminated the charter originally valid until 2017 against a cancellation fee. "Höegh Galleon has operated successfully under its time charter to Suez, and with this sale the Vessel has been an extremely good project for Höegh LNG," says Sveinung Støhle, CEO in Höegh LNG. "The sale supports our strategy to venture into new parts of the LNG supply chain as it has opened up for exploring further cooperation and participation with the buyer and their projects.