A very rare event in the shipping markets this week - two LNG carriers have reportedly been sold.
The METHANE ARCTIC and METHANE POLAR, both around 71,500 cbm and built in 1969 at Kockums, were sold by BG Group for around $80 million en-bloc to undisclosed interests.
The high price - for vessels that in other sectors of shipping would be classed as obsolete - reflects two things. Firstly, the fact that so few LNG carriers ever come on to the second hand market and any that do thus command a premium. Secondly, their superior construction means that they can trade well beyond the approximate 25 year lifespan that is commonplace for standard tankers and bulkers.
Phil
