Pure Energy inks $1.1 billion sale and leaseback deal for LNG carrier quintet

London-based Watson Farley & Williams (WFW), who advised CMBFL on the transaction, revealed the deal in a statement on Thursday.

According to the statement, the transaction includes five 200,000-cbm LNG carriers.

Also, the deal includes pre-delivery and post-delivery financing arrangements on vessels which are to be employed on a long-term basis with “multiple reputable market leading chartering groups”, WFW said.

The firm did not provide further information.

Pure Energy is controlled by Prokopiou, who is also founder of Dynacom Tankers, Sea Traders, and Dynagas.

Back in 2022, Pure Energy also entered into a $813 million sale and leaseback deal for three LNG carriers with China Development Bank Financial Leasing (CDB Leasing).

Earlier this year, Dynagas took delivery of the 200,000-cbm LNG carrier, Clean Vitality, from South Korea’s HD Hyundai Heavy.

Clean Vitality serves a 10-year charter with US LNG exporting giant Cheniere.

Back in June 2021, Dynagas ordered four 200,000-cbm LNG carriers each worth about $199 million and this LNG carrier is third in that batch.

Dynagas took delivery of Clean Resolution from HD Hyundai Heavy, the first vessel in this batch, in September 2023, and this vessel serves Cheniere as well. This is also the case with Clean Destiny, which joined the fleet in December last year.

After this order in 2021, Dynagas ordered three more LNG carriers of the same size at HD Hyundai Heavy in 2022, as well as three vessels in January last year and two vessels in May last year.

This transaction could be related to the five vessels ordered last year.

The ships feature GTT’s Mark III Flex+ membrane containment system and are 299.8 meters long and 48.9 meters wide.

Dynagas is expected to take delivery of all of these vessels by the end of 2027.