Hoegh LNG takes over management of Hoegh Gandria

Norwegian FSRU player Hoegh LNG has taken over the management of the 2013-built LNG carrier, Hoegh Gandria, which it purchased last year from LNG carrier operator CoolCo.

Hoegh announced the change of command in a social media post on Tuesday.

“Last week, Hoegh LNG took over the management of the Hoegh Gandria, which was purchased last year and is currently employed as an LNG carrier. Thank you to the crew and management at Cool Company Ltd (CoolCo), for a smooth change of command,” the firm said.

Hoegh LNG bought this LNG carrier for about $184.3 million saying the acquisition of the LNG carrier provides flexibility to pursue FSRU conversion opportunities.

The 160,548-cbm vessel recently secured a new charter deal.

“In February 2024, a 5-months LNGC charter was secured for Hoegh Gandria to keep the vessel employed and minimize potential idle time upon redelivery from its current charter towards the end of Q1 2024,” Hoegh LNG said in its 2023 results report.

It did not provide further information regarding the deal.

Besides this LNG carrier, Hoegh owns the 2006-built sister vessels, Arctic Princess and Arctic Lady.

Hoegh’s fleet comprises ten FSRUs and the entire fleet is either operating under or committed to long-term contracts.

The average remaining contract length per vessel was 7.8 years at the end of December 2023, Hoegh said in the financial report.

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