LNG tanker Norman Lady will be sold for green recycling to an undisclosed, but renowned buyer. As part of the agreement, the buyer has undertaken to comply with Höegh LNG’s Green Recycling Specification, Höegh LNG said in a release.
The specification ensures the vessel being recycled in an environmentally sound manner at a yard approved by Höegh LNG and which operates and complies with all relevant international rules and guidelines for the recycling of vessels.
Höegh LNG will through its 50/50 joint venture company Methane Carriers Ltd. take redelivery of the Norman Lady on 15 September 2013. The redelivery follows a successful 14 year charter with Gas Natural Aprovisionamientos SDG (Gas Natural) of the vessel built in 1973 by Rosenberg shipyard in Norway.
Höegh LNG’s President and Chief Executive Officer, Sveinung J.S. Støhle, said in a comment: “We are very happy with this recycling transaction since it concludes appropriately the end of Norman Lady’s long and successful trading life for both Höegh LNG and MOL”.
The vessel is scheduled for delivery by the end of October and the sale will contribute with a net positive effect on Höegh LNG’s result for 2013.
Norman Lady was the prototype of the Moss spherical cargo containment system.
Vessel Particulars
[mappress] Press Release, September 13, 2013