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Golar LNG Restructuring & Equity Offering

Golar LNG Limited announced a major restructuring combined with an intent to conduct an equity offering in its newly formed subsidiary, Golar LNG Energy Limited. Consistent with the announcement made in Golar's first quarter report, Golar has incorporated Energy in Bermuda for the purpose of transferring such part of its asset portfolio which is not employed on long term charters to this entity. The transfer will include the following assets and activities: •    the ownership of four modern LNG carriers (Gracilis, Grandis, Granosa and Golar Arctic) •    the ownership of three 1970's built LNG carriers  (Khannur, Gimi and Hilli) •    A 50% ownership interest in another 1970's build LNG carrier (Gandria) •    A 13.6% ownership interest in the Australian listed company LNG Ltd. •    Golar's current project portfolio •    certain financial obligations, notably swap arrangements In addition, Energy will acquire the subsidiary owning the 1970 built LNG carrier Golar Freeze which is scheduled to be converted to an FSRU vessel.   The transaction will be structured as a sale by Golar to Energy of its shares in and shareholder loans to the subsidiaries which are the formal owners of the above referred assets. In addition certain contractual rights will be transferred.


LNG Containment System Upgrade DNV Qualified

GTT’s Mark III LNG cargo containment system reduces the boil-off rate from LNG carriers by one third. Mark III is GTT’s well-established containment system. This has now been further developed to reduce the boil-off rate from 0.15% to 0.10% of the cargo volume per day. The common industry practice has been to build LNG carriers with boil-off rates of 0.15% of the cargo volume per day, reflecting the typical need for boil-off gas as fuel on board


Jensen to Design LNG Bunker Barges

Image: Jensen Marine

Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations. Currently no LNG bunkering barges are in operation in American waterways, and these vessels will be among the first to be developed and built


Harvey Gulf Buys 9 Bee Mar OSV's & to Stretch 5

A Harvey Gulf Vessel: Photo courtesy of Harvey Gulf

Harvey Gulf International Marine closes its asset purchase purchase deal with Bee Mar LLC. The purchase price for the all-cash sale of Bee Mar's nine Offshore Supply Vessels was US$243-million. Harvey Gulf immediately renamed the vessels consistent with other Harvey Gulf vessels and began seeking bids to stretch 5 of the new vessels to meet 250’ OSV class specifications. Harvey Gulf also announced that it has exercised 2 of its 4 options to construct additional LNG OSV's at TY


LNG in marine propulsion: Disruption to Maritime Industry?

LNG Propulsion Photo.jpg

According a new forecast by MEC intelligence nearly 10,000 vessels could be adopting LNG propulsion by 2020 triggering a huge growth in the market. Companies in all aspects of the maritime value chain– oil majors, terminals, ports, bunker suppliers, service companies, component producers, vessel owners and charterers – need to rethink their offerings.” A ground breaking report published by the maritime cleantech market insight firm MEC Intelligence estimates more than 5%


GOLAR LNG LIMITED - Further New Building LNG Carriers

GOLAR LNG.bmp

Golar LNG Limited ("Golar" or the "Company") is pleased to announce in furtherance of its recent press release regarding new buildings, that it has acquired further firm contracts to build two additional 160,000 m3 LNG carriers with the Korean shipbuilder Samsung Heavy Industries Co Ltd ("Samsung"). The newbuilding contracts were originally entered into by Companies affiliated with Golar's largest shareholder World Shipholding


LNG Ship Sails off Shipyard

According to Xinhua, China's first liquefied natural gas(LNG) ship sailed off shipyard Wednesday in Shanghai, marking China's shipbuilding industry stepping into a new era. Sources from the China State Shipbuilding Corp (CSSC) said the LNG ship was built by CSSC's Shanghai subsidiary, the Hudong-Zhonghua shipbuilding (Group) Co Ltd, which fills a blank in China's shipbuilding history. The LNG ship is regarded a high-tech product with high-added value in the shipbuilding industry


"Ink" It In: WMTC a Must for Maritime Professionals

By Greg Trauthwein Mirroring the metamorphosis of the globalization of the marine industry and seeking to stake a leadership claim atop the marine technology information heap, the World Maritime Technology Conference & Exposition will bring together the world, both literally and figuratively, in San Francisco in late October. Set in historic San Francisco and scheduled for October 17-20, this meeting is being hosted by the Society of Naval Architects and Marine Engineers (SNAME) but as


LNG Bunker Port in Netherlands a Step Closer

Photo courtesy of Port of Rotterdam

A plan has been tabled to build an LNG 'filling station' in the Port of Rotterdam The plan for making liquefied gas (LNG) available as fuel for shipping in the Netherlands has come another step closer. According to Hans Smits, CEO of the Port of Rotterdam Authority, an agreement with ECT will make land available for a ‘filling station’ between the Gate (LNG) and Euromax (containers) terminals. ECT and the Port Authority are still to work out the last details and sign the agreement


Important China Dual-Fuel Diesel Engine Order for Wärtsilä

RT Flex 50DF Engine: Image courtesy of Wärtsilä

Wärtsilä inform that its new  low-pressure, 2-stroke, dual-fuel engine (DF), the 5-cylinder Wärtsilä RT-flex50DF engine, together with the gas valve unit and other relevant equipment, has been ordered for a new liquefied natural gas (LNG) carrier vessel being built for the Chinese ship owner and operator, Zhejiang Huaxiang Shipping Co.Ltd. The Qidong Fengshun Ship Heavy Industry Co., Ltd in China is building the new vessel according to the Chinese Class Society


Russian Partners Agree Icebreaking OSV Constructions

Arctic drillship: File photo

Sakhalin Energy and Sovcomflot (SCF) inform they have agreed to extend their co-operation having signed a number of agreements for construction and long-term operation of support vessels for the Sakhalin-2 project. SCF explain that the vessels will be used as year-round personnel carriers and


Alaska Plan To Export North Slope Gasp

  Alaska's legislature on Monday approved Governor Sean Parnell's plan to join four energy companies in moving ahead on plans to build infrastructure to transport and market 35 trillion cubic feet of North Slope gas to be shipped by an 800-mile pipeline to a liquefied natural gas (LNG)


Japan LNG Imports Hit Record Levels

File photo

Japan imported record volumes of liquefied natural gas (LNG) and thermal coal in the fiscal year ended in March, as the country's  shutdowns of nuclear stations since the Fukushima disaster in 2011 forced utilities to burn more fossil fuels to generate power.


Shell Commited To Russia Expansion Despite Sanctions

Meeting with Shell CEO Ben van Beurden. (Photo: The Presidential Press and Information Office)

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region.  


Petrobras, Mitsui Study South Brazil LNG Import Terminal

Image: Petrobras

Brazil's state-run oil company Petroleo Brasileiro SA and Japanese trading house Mitsui Corp will study building a liquefied natural gas (LNG) terminal in the country's southernmost state, Rio Grande do Sul, to supply more fuel for local manufacturers and power generators.


OSC Plans Fleet Expansion through 2018

Photo: OSC

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report, the expansion is in line with a ramp-up in hydrocarbon, petrochemical and industrial investment throughout Oman.


LNG Bunkering Will Develop Fast - LR Study

Frontispiece image courtesy of LR

Lloyd's Register’s (LR) LNG Bunkering Infrastructural Survey 2014 indicates that major ports around the world are either planning for, or are anticipating, the wide-scale development of LNG bunkering. 22 ports were assessed in the analysis with 18 key questions addressed.


US Renews ConocoPhillips' Permit for Alaska LNG Export

Photo courtesy ConocoPhillips

The U.S. Energy Department on Monday renewed ConocoPhillips' permit allowing the company to export liquefied natural gas from Kenai, Alaska to all countries. The approval was expected. The U.S. government has allowed LNG exports from Alaska's Kenai terminal for the past 47 years.


House LNG Export Bill Advances

The Subcommittee on Energy and Power today approved H.R. 6, the Domestic Prosperity and Global Freedom Act, by a vote of 15 to 11. Authored by Rep. Cory Gardner (R-Colo.), the legislation would cut through the red tape blocking exports of U.S. liquefied natural gas (LNG). H.R


GasAtacama has US LNG Providers Lined Up

Photo: GasAtacama

GasAtacama, energy provider to metal producers in Chile's Atacama desert, has lined up eight potential U.S. natural gas suppliers for a proposed import terminal on its Pacific Coast, but uncertainty about energy demand has delayed deals, CEO Rudolf Araneda told Reuters on Thursday.


US LNG Export Bill Clears Hurdle

A U.S. House subcommittee voted on Wednesday to advance a bill that would eliminate the need for government approval of U.S. liquefied natural gas (LNG) exports to countries that belong to the World Trade Organization. The legislation, which will be considered by the full House energy committee


U.S. House Bill Approving LNG Exports

A U.S. House subcommittee voted on Wednesday to advance a bill that would eliminate the need for government approval of U.S. liquefied natural gas exports to countries that belong to the World Trade Organization.   The legislation, which will be considered by the full House energy


GTT Training Center Announces First Course

GTT Training Center announces that registration is now open for the first training course to be run at the new center which will take place on June 23, 2014.  The course will be a LNG Cargo Operations Course for ships officers and will take place at its facilities in


Bestobell’s Scores Chinese Contract

Image:  Bestobell Valves

Bestobell Valves, part of the President Engineering Group, said it has received a major boost to its marine division with the award of a new contract for cryogenic cargo globe valves from the Hudong Zhonghua shipyard in China. The multimillion dollar contract will see the U.K


Shell, CNPC cooperating in deep-sea exploration, shale gas

Royal Dutch Shell and the China National Petroleum Corp (CNPC) have signed a deal to boost cooperation in sectors like deep sea exploration as well as liquefied natural gas (LNG) and unconventional gas sources like shale, CNPC said on Wednesday.


 
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