Stena Bulk sells two LNG carriers to BW LNG

Stena Bulk has sold two LNG carriers to BW LNG for an undisclosed sum.

BW LNG said the pair of sister vessels have tri-fuel diesel electric propulsion and offer versatility for trading in LNG as well as the potential for conversion into floating storage and regasification units (FSRUs) in the future.

Both 2011-built vessels Stena Crystal Sky and Stena Clear Sky are now Singapore-flagged and have been delivered to BW LNG. The company has added its moniker to the vessel’s names and said it will immediately assume the existing charters for the vessels.  

“BW LNG is delighted to welcome BW Clear Sky and BW ENN Crystal Sky to our fleet of now 34 LNG carriers and FSRUs. This is an interesting growth opportunity for us; acquiring high-specification vessels on the water with solid charters to existing key clients. In BW LNG, we are committed to developing strategic floating LNG infrastructure," BW executive vice president for LNG shipping Petter Lindvig Larssøn said.

The vessels were originally built at South Korea’s Daewoo Shipbuilding & Marine Engineering and have an LNG carrying capacity of 174,000 m³.

Stena Bulk president and chief executive Erik Hånell said, “As part of our strategy to continuously look for new opportunities, Stena Bulk took the decision some time ago to sell Stena Crystal Sky and Stena Clear Sky. We are pleased to have been able to find a solid buyer in BW LNG for these two LNG carriers.”

“Following the sale of these two vessels, we have one LNG tanker – Stena Blue Sky – still in our control. We will continue to be pragmatic about Stena Blue Sky, and the opportunities that slightly rationalising our fleet will bring. This news enables us to continue to build bridges towards a new era for Stena Bulk and our fleet.”

Stena Bulk has signed new charters for four new medium range tankers which are under construction at South Korea’s Hyundai Mipo Dockyard due in 2025 and 2026. And last week, the Swedish firm formed a partnership with a Middle East partner to co-own some of its MR tankers as it looks to expand its market reach.