Crew Reviews, Ratings & Info for Kool-Crystal

In a significant move within the maritime sector, COSCO Shipping Development, a prominent player in the shipping industry, has finalized a 10-year sale and leaseback agreement with Golar LNG, a leading liquefied natural gas (LNG) shipper. According to a recent filing with the Hong Kong Stock Exchange, COSCO will acquire the state-of-the-art 160,000-cbm LNG carrier, GOLAR CRYSTAL, for a total of approximately $187 million. As part of this arrangement, Golar LNG will lease the vessel for a decade, making an upfront rental payment of $72 million. Furthermore, Golar LNG will be responsible for an aggregate principal hire of $62 million, payable according to a predetermined schedule, with additional variable hire to be determined at a later date. This strategic deal highlights COSCO Shipping Development's evolution from its origins as a container liner operator, once known as China Shipping Container Lines, to its current focus as a financial services platform dedicated to ship leasing and financing solutions for the maritime industry.

In a significant move towards fleet modernization, Golar LNG has revealed that Nigeria LNG Ltd (NLNG) has awarded them two time charters for their recently launched vessels, Golar Frost and Golar Crystal. The operational period for both LNG carriers is slated to begin in January 2015 and will extend for roughly 12 months each. This decision comes as NLNG opts to retire three of its older and less efficient LNG carriers ahead of schedule, seeking to enhance its fleet with Golar's state-of-the-art ships. This transition is part of NLNG's strategy to optimize operations while awaiting the arrival of its newly ordered vessels.