Indonesian firm buys steam LNG carrier from GasLog Partners

A unit of Indonesia’s Sillo Maritime has purchased one LNG carrier with a steam turbine propulsion from LNG shipper GasLog Partners.

Jakarta-based Sillo Maritime said in a statement that its unit Golden Prima Maritim had purchased the 2007-built 145,000-cbm, Methane Shirley Elisabeth, now renamed Golden Isaia.

The shipping firm did not name the seller in the statement.

GasLog Partners said in July it had entered into a deal to sell this LNG carrier for $54 million to an “unrelated third party”.

The NYSE-listed limited partnership controlled by Greece’s GasLog planned to close the deal in the third quarter of 2022.

“As a result of this LNG purchase, currently the company has used 65 percent of the total budgeted capex in this year, which is $100 million,” Sillo Maritime said.

Sillo Maritime expects the acquisition of the LNG vessel to contribute 10 percent of the total revenue projection for this year.

Currently, the shipping company operates various vessels such as floating storage offloading (FSO), oil tankers, gas tankers, and offshore support vessels.

“The growing number of vessels shows the company’s eagerness to improve performance and meet the increasing customer demand for gas tankers in the country, considering gas reserves which are currently larger than the oil reserves,” Sillo Maritime’s president director, Herjati, said in the statement.

Previously, the company also acquired one very large gas carrier at the end of 2021.

“This LNG purchase is the company’s initial step to obtaining more LNG vessels in the next few years, which is also a form of the company’s commitment to supporting the cabotage principle and the national shipping industry,” Herjati said.

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