Sahara Group acquires 2 LPG carriers valued at $142m

Sahara Group, an power conglomerate, has positioned an order for 2 Liquefied Petroleum Fuel (LPG) vessels to additional drive entry to wash power in Africa, in keeping with its dedication to selling the continent’s march in direction of power transition.

The contracts for the 2 40,000-cubic metres capability carriers have been signed lately in Singapore between Sahara Group with headquarters in Dubai, United Arab Emirates (UAE), and Ulsan-based HD Korea Shipbuilding & Offshore Engineering (HD KSOE).

Valued at $71 million every, the 2 LPG carriers are anticipated to spice up the power conglomerate’s strategic investments aimed toward fostering protected, dependable, and sustainable entry to LPG which is extensively thought to be a cleaner supply of power that serves massive populations.

The Ulsan-based Hyundai Mipo Shipyard (HMD) is scheduled to ship one vessel in December 2025 and the opposite ship in early 2026. HMD is among the largest shipbuilding corporations with a world share rank of 1 (50%) in PC (Product Provider). Because the Nineteen Eighties, greater than 10,000 ships have been repaired and transformed till 2005, and 400 newly ordered ships have been delivered till 2009.

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Sahara Group, by way of its subsidiary Sahara Power, has a stake in 4 vessels registered underneath West Africa Fuel, also referred to as West Africa LPG, a three way partnership between Nigerian Nationwide Petroleum Corp (NNPC) and Ocean Mattress Buying and selling.

Ocean Mattress Buying and selling is an oil and fuel buying and selling firm and is a subsidiary of Sahara Power. The latter holds 40 p.c stake within the joint outfit.

West Africa Fuel presently owns 4 HMD-built LPG carriers: the 38,148-cbm Africa Fuel and Sahara Fuel (each in-built 2017) and the 2022-built 23,000-cbm Sapet Fuel and Barumk Fuel.

Throughout a supply ceremony for Sapet Fuel and Barumk Fuel at HMD in Could final 12 months, the Group Chief Government Officer, of Nigerian Nationwide Petroleum Firm Restricted, Mele Kyari, disclosed that the three way partnership deliberate to accumulate about 10 oil and fuel vessels over the following decade.