CSDC, Golar LNG agree sale and leaseback of Golar Crystal

CSDC, Golar LNG agree sale and leaseback of Golar Crystal
Image courtesy of Gibraltar Port

China’s COSCO Shipping Development signed a 10-year sale and leaseback arrangement with the liquefied natural gas shipper Golar LNG. 

According to the COSCO Shipping Development’s filing to the Hong Kong stock exchange, the company has agreed to purchase the 160,000-cbm LNG carrier Golar Crystal for a total consideration of US$187 million.

Under the arrangement, Golar LNG will charter the vessel for a period of 10 years with an upfront hire payment of $72 million.

 

In addition, Golar LNG agreed to pay a principal hire in the aggregate amount of $62 million at an agreed schedule with variable hire still to be calculated.

COSCO Shipping Development has been transformed from a container liner operator, formerly known as China Shipping Container Lines, into a financial services platform focusing on the provision of ship leasing and shipping-related financing services.

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >