Brokers say the steam-turbine LNG carrier Seapeak Mars has been sold for scrap, becoming the first LNG carrier demolished in 2026, with more sales expected as owners phase out older steam-powered tonnage amid a very soft spot market.
The 138,000 cu m vessel, operated by Seapeak, a Stonepeak Infrastructure Partners company, was sold as-is in Linggi, Malaysia, at a reported $421 per ldt, according to Best Oasis. No yard has been named.
Built in 2004, Seapeak Mars is part of Seapeak’s ageing steam fleet, which has become uneconomic amid higher fuel costs and tighter emissions rules. The company has recognised impairments on older LNG ships and is expected to sell more of them. Seapeak now operates six steam turbine LNG carriers, having laid up several last year, focusing on a longer list of modern tonnage.
The sale follows the scrapping of 14 LNG carriers built between 1995 and 2004 in 2025, highlighting the accelerating exit of steam LNG tonnage.
Best Oasis notes that, despite currency headwinds and a softer steel market, overall sentiment in India remained firm, supported by steady buyer appetite and improved local market confidence.
