Saga LNG lines up midsize newbuilds deal

Singapore-based Saga LNG Shipping has secured a contract with India’s Venerable LNG for its midsize newbuilds.

Under the memorandum of understanding (MoU) Saga LNG Shipping will provide one or more LNT45-S design LNG carriers for the project. The vessels will bring the chilled fuel to a terminal and infrastructure project under development by Venerable LNG.

The 45,000-cbm vessels will feature the LNT A-Box containment system and have a fully laden draft of 7.8 meters, suitable for the shallow coastline of the Bay of Bengal.

“Now that Saga Dawn is successfully trading, we redouble our efforts on developing new projects to grow our fleet of small to midsized vessels”, David Wu, founder and CEO of Saga LNG Shipping said.

Saga LNG Shipping’s Saga Dawn, the world’s first LNG carrier featuring the A LNG containment system, is already in operation.

The ABS-classed vessel was built at China Merchants Heavy Industry’s Jiangsu yard and features Wärtsilä dual-fuel main and auxiliary engines.

It loaded its first cargo at Singapore LNG terminal and completed its maiden voyage, delivering the load to Guangdong, China at the end of April.

Saga LNG Shipping aims to build, own and operate a series of tailor-made small and midsized LNG assets targeted at projects currently in various stages of development.

Types of assets included in Saga LNG’s scope are FSUs, LNG barges & LNG carriers, FSRUs, FLNGs, and LNG bunker vessels, all within the 1,000 to 100,000 cubic meter range.