Qatar Shipping Company, part of Milaha, has invested an undisclosed sum in two LNG carriers to obtain the remaining 60% interests from the French bank Société Générale.
VesselsValue.com has estimated the ships’ value to be worth around $101.8m and $$115.3m respectively. Milaha Ras Laffan (138,273 cbm, built 2004) and Milaha Qatar (145,602 cbm, built 2006) both Korean-built are at present on 25-year timecharters to RasGas, with 14 years and 16 years remaining on their respective contracts. The operation of the vessel is governed by Qatar Shipping as a joint venture with Denmark-based Malt LNG pool.
Sheikh Ali bin Jassim Al Thani, Chairman of Milaha said, “This transaction reflects our disciplined execution of our long-term strategy of investing in core businesses. We have a strong momentum and believe that we can sustain our growth and continue to execute on our strategy”.