Meiji Shipping is expanding its fleet of LNG tankers as part of efforts to strengthen its ship management business, says an article published in Argus Media.
LNG shipping demand
Japanese shipowner Meiji Shipping is expanding its fleet of LNG tankers as part of efforts to strengthen its ship management business and tap growth in LNG shipping demand.
LNG vessels acquisition
Meiji Shipping decided to buy two 170,000m³ LNG vessels, indirectly owned by Shell from UK-based Methane Services.
The two vessels were built in 2010 and are expected to change hands sometime between April and August this year.
The company would not disclose the expected purchase prices for the two LNG tankers but said the prices were fairly reasonable considering the current market value.
Meiji Shipping’s fleet
Meiji Shipping entered the LNG shipping business in 2019 by launching its first LNG carrier, the 174,000m³ Marvel Kite. The vessel was built by South Korean shipbuilder Samsung Heavy Industries and is primarily used to transport LNG from the Cameron LNG export project in the US under a charter deal with Japanese shipping firm NYK Line. The company owns and operates a fleet of around 50 vessels, including very large crude carriers under long-term charter agreements with international shipping and oil firms.
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Source: ArgusMedia
