Sembcorp Marine signs LOI for first pair of CGL vessels

A subsidiary of large-cap yard group Sembcorp Marine has signed a letter of intent (LOI) with Houston-based SeaOne Caribbean LLC that may mark the design and construction of the group's first pair of compressed gas liquid (CGL) carriers.

Sembmarine said that the LOI inked by its specialised shipbuilding unit will cover at least two large CGL carriers earmarked for SeaOne's Caribbean Fuels Supply Project.

No value was announced for the potential contract award or when it will be finalised.

But the project is reportedly on track for a final investment decision by this November as SeaOne has already secured a 30-year export permit from the US Department of Energy for its CGL production facility.