Photo: CNTIC VPower

CNTIC VPower buys second vessel

CNTIC VPower has bought another liquefied natural gas vessel as the joint venture is continuing to develop LNG-to-power projects.

CNTIC VPower's first vessel delivering LNG to Myanmar
CNTIC VPower’s first vessel delivering LNG to Myanmar (Image: CNTIC VPower)

The venture consisting of Hong Kong-listed VPower Group and China National Technical Import & Export Corporation acquired the Karmol LNGT Powership Anatolia from Karmol.

The JV renamed the vessel to CNTIC VPower Energy.

Karmol is a joint business of Japanese shipping company Mitsui O.S.K. Lines and Turkey’s floating power plant company Karpower.

The 1992-built 127,452-cbm carrier was previously named Northwest Seaeagle and served the Australian North West Shelf LNG venture.

Following purchase, Karmol renamed it to LNGT Powership Anatolia.

CNTIC VPower aqquired the vessel from Karmol for an undisclosed price.

VesselsValue data suggests that the ship is worth about $15.4 million.

The vessel is located at Sembcorp Marine’s Sembawang Shipyard in Singapore.

This is is the second ship to join CNTIC VPower’s fleet after the 28,000-cbm LNG carrier CNTIC VPower Global.

This carrier is already delivering cargoes to Myanmar as the partnership recently fired up the first LNG power plant in Thaketa Township of Yangon.

The JV is developing three LNG power plants in Myanmar to support the nationwide electricity demand, with a focus on Yangon region.

Malaysia’s Petronas supplied the first two LNG cargoes from its Bintulu plant as part of a deal with the venture.

The companies are working on further LNG deliveries to the country.