Höegh sells LNG Libra

Höegh LNG Holdings has sold the 1979-built LNG carrier LNG Libra to a Chinese energy company for around $20 million. The sale will be completed when the vessel has fulfilled its current charter with Gas Natural at the end of the first quarter 2016. The vessel was previously intended for conversion into a floating storage and regasification unit (FSRU), but has now been sold for further trading as a conventional LNG carrier.

Höegh LNG's president and chief executive, Sveinung Støhle, said: “LNG Libra was acquired to meet the bid conditions for a specific FSRU project as a conversion candidate, however, we succeeded in placing one of our newbuild FSRUs instead. Since Höegh LNG's main focus is newbuild FSRUs and these have become the preferred solution among LNG importers, LNG Libra is today a non-core asset, and therefore we are very pleased to have completed this transaction in a very challenging LNG shipping market.”