Several brokers reported that Hyundai LNG Shipping sold the 2000-built 137,141-cbm, Hyundai Aquapia, and the 1999-built 137,219-cbm, Hyundai Technopia.
The steam LNG carriers were sold on “as is” basis for delivery in South Korea and Indonesia.
The price was not disclosed. VesselsValue data shows that the demolition value for these LNG carriers is about $19 million.
In addition to these vessels, brokers said H-Line Shipping sold its 2000-built 138,333-cbm, HL Sur and HL Ras Laffan.
The price for these vessels was also not disclosed.
VesselsValue data shows that the demolition value for these LNG carriers is about $14 million.
Earlier this year, Hyundai LNG Shipping sold its 1996-built steam LNG carrier, Hyundai Greenpia, for demolition.
After that, brokers reported at at least two more steam LNG carrier sales for demolition.
This includes the sale by Greece’s Capital Gas of the 2002-built 137,100-cbm, Trader III, and the sale of MOL’s 2004-built 137,500-cbm, Dukhan.
Marius Foss, interim CEO of Flex LNG, said during the company’s recent quarterly earnings call that by the end of March 2025, “close to 60 vessels were idling.”
“But it doesn’t stop there. More and more of these vessels are being put in layup, either warm or cold. And it’s not just steamers anymore, we see tri-fuels also starting to join that list. Bringing a cold layup vessel back into service is not cheap. It’s very costly and it’s very time-consuming,” he said.
“So, what happens next? Well, the natural conclusion is scrapping. So far in 2025, only three steamers have already gone for recycling, but the number might be even higher. Several others are quietly being offered for sale. And frankly, the chance for them to finding a new buyer is slim. Scrapping is therefore becoming a more realistic option,” he said.
