Saga LNG Shipping moves LNG newbuild to CMHI

Saga LNG Shipping, a new LNG player backed by Landmark Capital, has signed an LNG shipbuilding contract with China Merchants Heavy Industry.

Landmark Capital said in a statement that its recently established shipping-arm has placed an order for a liquefied natural gas carrier with 45,000 cubic meter cargo capacity, with an option for one more.

The same newbuilding project was set in motion at Xiamen Shipbuilding Industry in January of this year.

Due to undisclosed reasons, the project was delayed and in order to meet deadlines with potential end-users, the project was moved to another shipyard.

The vessel will now be constructed at China Merchants Heavy Industry’s Haimen based shipyard in China’s Eastern Jiangsu province and is set to be delivered in early 2018.

According to Landmark Capital, “the mid-sized carrier, which will feature LNT A-BOX containment system by LNG New Technologies, has been designed for worldwide trade of LNG, but with special consideration to re-loading of cargoes and local and regional trades.”

Landmark Capital revealed that in addition to Saga LNG Shipping, the company is targeting a variety of floating projects in the sector calling for FSU, FSRU or FLNG solutions which would also be based around the LNT A-BOX.

Image: LNG New Technologies