Lila Global doubles up on vintage LNG carriers

Lila Global is expanding its presence in the ageing LNG carrier market, adding a second steam-powered vessel to its fleet as the global LNG trade undergoes major disruption. 

Earlier this month, Splash reported that the 18-year-old, steam-powered LNG carrier Tangguh Batur (145,700 cu m) had been sold for $30m and renamed Eagle M, with market chatter linking the purchase to Lila Global’s parent company, GMS, controlled by Anil Sharma (pictured).

That deal has now been confirmed, with the vessel listed on Lila Global’s website, marking the company’s entry into the LNG segment. The vessel’s value has already increased since the acquisition, with VesselsValue now assessing Eagle M at $32.75m. Meanwhile, Lila Global has emerged as the buyer of another vintage LNG carrier, the 2003-built Castillo de Villalba renamed Carla, a vessel that is five years older than the Eagle M. 

The former Elcano-owned vessel has been sold for $24.5m, well above its VesselsValue market valuation of just under $18m. 

The acquisitions come at a time when the world’s LNG trading map is undergoing its biggest upheaval in years, with the near-paralysis of Gulf exports redirecting cargoes across oceans, forcing Asian buyers towards alternative suppliers and pushing European gas prices to their highest levels since 2022.

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