Nakilat takes delivery and management of LNG carrier newbuild

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Nakilat has taken delivery of a newbuild LNG carrier, “Global Star”, which will be commercially and technically managed in-house by Nakilat.

Built by Daewoo Shipbuilding & Marine Engineering (DSME), this is the second out of the four LNG carrier newbuilds to be delivered to Global Shipping Co. Ltd., a joint venture of Nakilat (60%) and Maran Ventures Inc. (Maran Ventures) (40%). The first newbuild “Global Energy” was safely delivered in May 2020. The delivery of all four newbuild LNG carriers will bring Nakilat’s fleet to 74 vessels, which is just under 12% of the current global LNG fleet based on carrying capacity.

Nakilat’s Chief Executive Officer Eng. Abdullah Al Sulaiti said, “Nakilat welcomes a new addition into our world’s largest LNG fleet, a technologically-advanced newbuild that allows us to provide additional capacity and flexibility to our customers and gives us a greater competitive edge in this dynamic marketplace. Technically operated and commercially managed in-house, this significant milestone bears testament to the company’s superior ship management capabilities and further affirms our global leadership position in energy transportation. Nakilat has been demonstrating remarkable accomplishments with the completion of fleet management transition for seven LNG carriers and delivery of one newbuilds within a year, tactfully executing its strategic long-term growth as part of the efforts to optimize costs hence maximize returns for our shareholders.”

Al Sulaiti added: “We have seen a shift in terms of management and vessel technology in the industry, which we have taken into consideration. Constructed in South Korea, the four modern vessels each have a cargo carrying capacity of 173,400 cubic meters, equipped with some of the most advanced and environmentally sound technology with in the market today, with two of them being equipped with ME-GI while the other two with X-DF propulsion technologies. These vessels also feature an optimized hull design and employ other advanced technologies which help to strengthen Nakilat’s position as the leading transporter of clean energy.”

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