A floating storage and regasification unit controlled by Hoegh LNG Holdings has been snapped up by energy major BP at a red-hot rate to work as a trading vessel.

LNG market players have widely reported that the 170,000-cbm Hoegh Giant (built 2017) has been fixed at a rate of about $300,000 per day for a period until March.

They indicated that the vessel would likely be used by BP to give it cover over the winter period before going on hire to an upcoming regasification project in 2023.