Indonesia’s Soechi Lines buys LNG carrier

Indonesia's Soechi Lines has completed the acquisition of one liquefied natural gas (LNG) carrier. The firm did not reveal the name of the vessel, but it is said to be the 2003-built steam turbine LNG carrier, Golar Arctic.

“The acquired LNG tanker has a length of 280 meters and a width of 43 meters, with a total capacity of 74,000 dead weight tonnage (DWT),” Soechi said on Wednesday.

The company did not reveal the name of the LNG carrier or the price tag of the deal.

According to brokers and VesselsValue data, Soechi bought the 2003-built steam turbine LNG carrier, Golar Arctic, from Golar LNG.

In February, Golar announced that it had agreed to sell the last LNG carrier in its fleet, completing its transition into a focused FLNG infrastructure firm.

Golar did not reveal the name of the buyer of Golar Arctic.

The sale price for the vessel is $24 million before transaction-related expenses, the firm said.

Soechi said the LNG tanker is intended to ship LNG to meet domestic LNG demand, especially from industrial requirements.

The company expects the LNG tanker to start contributing revenues in 2025.

With the addition of the LNG vessel, the company currently operates 31 tanker vessels with a total capacity of 1.65 million dwt.

The company claims it is currently one of the main tanker players in Indonesia, serving the entire value chain of oil and gas distribution in the country, with its fleet market share of about 20 percent based on the total dwt capacity of the tanker vessels.

Most of Soechi’s tankers are chartered to other firms.

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