Lila Global has significantly increased its presence in this market by purchasing two old LNG tankers. The company has recently added a steam-powered tanker to its fleet and seems to be looking to capitalize on major changes in the global LNG trade.
Details of the Tanker Purchases
The LNG tanker Tangguh Batur, which is 18 years old, was sold for $30 million and has been renamed Eagle M. This purchase has been attributed to Lila Global's parent company, GMS, which is controlled by Anil Sharma. The value of the Eagle M tanker has increased to $32.75 million after the purchase and is now listed on Lila Global's website.
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Additionally, Lila Global is recognized as the buyer of another old LNG tanker, Castillo de Villalba, which was built in 2003. This tanker was sold for $24.5 million, significantly higher than the market assessment by VesselsValue, which was close to $18 million. This tanker is five years older than the Eagle M.
Developments in the LNG Market
These purchases have occurred at a time when the global LNG trade map is undergoing major changes. Exports from the Gulf have nearly stopped, leading to a rerouting of shipments across the oceans. Asian buyers have begun to lean towards alternative suppliers, and gas prices in Europe have reached their highest levels since 2022.
These developments indicate a fundamental shift in global LNG demand and supply, which could lead to long-term changes in market structure. Lila Global is clearly striving to capitalize on these changes and increase its market share in the LNG sector.
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