https://splash247.com/sinokor-sells-veteran-lng-carrier-for-scrap/

South Korea’s Sinokor Merchant Marine has sold one of its aging LNG carriers, Coral Energy, for recycling, marking the third such vessel scrapped this year. Brokers report that the 45-year-old ship, anchored in Labuan, Malaysia, was sold on an as-is basis to an undisclosed cash buyer for a reported price of $555 per ldt. Coral Energy, a 126,400 cu m steam turbine carrier built by General Dynamics, was acquired by Sinokor in 2017 as LNG Virgo from American Overseas Marine.

Sinokor currently owns seven LNG ships, including Coral Energy and two sister vessels, Bering Energy and Gulf Energy, both built in 1978. The Coral Energy follows the 1996-built Surya Aki and the 1994-built YK Sovereign to demolition yards in 2024.

Additionally, Sinokor has been active in the VLCC market, purchasing eight vessels this year while profiting from the surge in secondhand prices by selling ships in cash and stock deals with Torm.