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Asyad Shipping announced in a stock exchange filing that the net proceeds from the sale of approximately $23 million were received upon successful delivery to the new owner on June 9.
The shipping firm did not provide the owner’s name.
VesselsValue data shows that Asyad Shipping sold the LNG carrier to an undisclosed demolition buyer.
The 137,452-cbm vessel was located off Alang, India, on Wednesday.
Asyad Shipping noted that Sohar LNG has been part of the company’s fleet since 2003, co-owned (50 percent) with MOL as part of a joint venture.
Moreover, the shipping firm said that it expects the sale to generate an aggregate gain of approximately $2.1 million for the JV.
Asyad Shipping recognizes its 50 percent share of the gain, or approximately $1.1 million, subject to final closing adjustments and accounting treatment.
“As part of its strategy to maintain a young fleet and efficient operations, Asyad Shipping has continued to explore opportunities to divest older tonnage as planned,” the company said.
The company remains “committed to a disciplined fleet renewal strategy, with proceeds from planned divestments to be utilized to support the company’s ongoing expansion plan,” it added.
In February this year, Asyad Shipping completed the sale of four of its steam LNG carriers as part of its fleet renewal strategy.
Last month, Asyad Shipping named two newbuild LNG carriers in South Korea.
The 174,000-cbm Muscat LNG and Musandam will serve state-owned LNG producer Oman LNG under long-term charter contracts.