Hoegh Sells LNG Tanker Norman Lady for Recycling

Höegh LNG said it will through its 50/50 joint venture company Methane Carriers take redelivery of the LNG tanker Norman Lady on 15 September. The redelivery follows a successful 14 year charter with Gas Natural Aprovisionamientos SDG of the vessel built in 1973.

The owners have decided to sell the vessel 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. 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.

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.

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“.

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LNG World News Staff, September 13, 2013; Image: Höegh LNG