Seapeak orders five LNG carriers
The LNG carriers will be constructed by Samsung Heavy Industries for a total fully built-up cost of approximately US$1.1 billion and are scheduled for delivery in 2027. Upon their deliveries, the five LNG carriers will each operate under a fixed-rate time-charter contract with an international energy major for a firm period of 10 years, each of which can be extended at the option of the charterer.
Samsung Heavy Industries has received orders for 35 LNG carriers this year, out of 45 ships ordered.
Seapeak is one of the world’s largest independent owners and operators of liquefied gas carriers, providing services primarily under long-term, fee-based charters through its interests in 46 LNG carriers, 20 mid-size LPG carriers (including two on order) and six multi-gas carriers. Seapeak’s ownership interests in these ships range from 20 to 100 percent. In addition, Seapeak owns a 30 percent of an LNG regasification terminal.
In October 2022 Seapeak and Jaccar Holdings announced that they have entered into a sale and purchase agreement whereby Seapeak will acquire Greenship Gas Trust and Greenship Gas Manager and their subsidiaries (collectively, Evergas) from Jaccar, with an enterprise value of approximately US$700 million. Evergas owns and operates two very large ethane carriers and eight multigas/LNG carriers. All are on fixed-rate timecharters to Ineos and are capable of burning gas as fuel. Evergas also controls six LPG carriers under leases ending in 2024.
“Acquiring Evergas is another big step in Seapeak’s evolution as a leading owner and operator of liquefied gas carriers,” commented Mark Kremin, Seapeak’s CEO. “Just as we’re bullish on LNG, we’re also bullish on natural gas liquids (NGLs), especially given the even greener nature of NGLs. Already a world leader in NGLs, Ineos is now growing in LNG, and we are thrilled to be adding them as a key customer, further diversifying our portfolio.”
Kremin continued, “Together, Ineos and Evergas are vital to America’s liquefied gas export story and their collaboration to develop CO2 carrier trades will be vital to decarbonising Europe.”
