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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.


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 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


Bestobell Bags Hat Trick Order in China

Photo courtesy of Bestobell Marine

Bestobell Marine, part of the President Engineering Group, has received its third order in the past 12 months from Hudong Zhonghua shipyard in China. The deal involves the supply of 460 cryogenic miniature needle globe valves per ship for four Teekay/CNOOC/China Shipping Group LNG (liquefied natural gas) Carriers to be built at the shipyard, which will be chartered by BG Group. Bestobell Marine has already secured orders for its cryogenic globe and check valves


Coming soon: German LNG-powered Ferries

An animated sequence of the AGA Seagas LNG fueling vessel by Bomin Linde LNG GmbH

 Germany’s AG-Ems is preparing to put two liquefied natural gas-diesel dual fuel ferries into operation for the summer season in the North Sea for the first time. They both are powered by Wärtsilä 20DF engines, with fuel to be supplied by Bomin Linde.   The 305-foot Ostfriesland is in the final stages of conversion to LNG power at Germany’s BVT (Brenn-und-Verformungstechnik Bremen GmbH) shipyard using two 6-cylinder Wärtsilä 20DF dual-fuel generating


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


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 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%


China Bankrolls LNG Carrier Newbuildings

LNG carrier: File photo

The Export-Import Bank of China, a wholly state-owned bank has informed official news agency Xinhua that it is to lend US$400-million U.S. dollars to four separate shipowning companies.for building 4 liquified natural gas (LNG) carriers in a Shanghai shipyard. Citing information from the bank, Xinhua reports that the four carriers, each with a shipment capacity of 174,000 cubic meters are for: CNOOC Energy Technology and Services, China LNG Shipping Limited


Rotterdam Gate LNG Terminal Expansion Started

Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun. The new infrastructure is expected to aid the use of LNG as a transport fuel and is expected to be operational


Heerema Signs LOI with Jurong Shipyard for Giant Crane Vessel

Heerema Marine Contractors: Heerema Group

Dutch offshore contractor Heerema Offshore Services has signed a letter of intent (LOI) with Sembcorp Marine’s Jurong Shipyard in Singapore for the construction of the world’s largest semi-submersible crane vessel (NSCV).  


ABG Ties Up with GTT for LNG Technology

Pic: ABG Shipyard

 ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint.   With this pact, ABG has become the third Indian company to secure technology collaboration to build LNG carriers


GasLog Acquires 2 BG Carriers

GasLog.jpg

GasLog Ltd. completed the acquisition of two LNG carriers from Methane Services Limited, a subsidiary of BG Group plc, which was previously announced on December 22, 2014. This transaction completes the third acquisition of ships from BG by GasLog in the last twelve months


Britain's Isle of Grain to Test LNG Export Capability

Britain's Isle of Grain liquefied natural gas (LNG) import terminal will test whether it can also export supply by loading a quantity of fuel onto inbound tanker Asia Vision on Thursday, a spokeswoman for operator National Grid said. This month National Grid outlined plans to add a reload


GTT Bags Order for DSME-built LNGC

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), has received an order for one liquefied natural gas carrier (LNGC).   The ship will be built by the South Korean shipbuilder Daewoo


ABS Updates Guidance on LNG Bunkering

Image courtesy of Harvey Gulf

  ABS has updated its guidance on LNG Bunkering in North America to support the transport sector's increasingly rapid transition to the use of cleaner fuels. The second edition of ABS' Bunkering of Liquefied Natural Gas-fueled Marine Vessels in North America was released today


Big Spending on Liquefaction Terminals

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to the new ninth edition of Douglas-Westwood’s (DW) World LNG Market Forecast 2015-2019


Icebreaker Murmansk Launched at Arctech Helsinki Shipyard

Icebreaker Murmansk Courtesy Arctech Helsinki Shipyard

  The 16 MW Icebreaker for the Russian Ministry of Transport was launched at Arctech Helsinki Shipyard on March 25th, 2015. Before floating the vessel, she was given the name ceremonially by breaking of a champagne bottle on the bow of the vessel


GAIL Seeks 7 LNG Cargoes

Image: GAIL (India)

 GAIL (India) will buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters.    According to preferences and vessel sizes, the deliveries will be split between Dabhol


Feds Delay LNG’s Port Ambrose Application

Port Ambrose Map:  Liberty Natural Gas, LLC

 The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.   Liberty Natural Gas’s application to build the Port Ambrose deep-water port to receive LNG in the New York/New


JV Wins $2bln Freeport LNG Contract in US

Photo: Freeport LNG Development, L.P. (Freeport LNG)

 A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural gas (LNG) train at Freeport LNG in Texas, US.   Upon completion


Poland's LNG Terminal - Unfinished Agenda for Saipem

Polish LNG terminal 87 percent complete: (Photo: Embassy of the Republic of Poland in Stockholm)

 Poland's liquefied natural gas (LNG) terminal at the Baltic port of Świnoujście will be completed only if Italian firm Saipem receives further payment, reports Reuters.   The terminal, under construction by a consortium including Italy's Saipem


Amid Yemen Chaos, China Lifts More Oil

China has managed to export a large shipment of crude oil from Yemen over the weekend, ship-tracking data showed on Monday, despite mounting chaos in the country after the launch of Saudi-led air strikes last week. The 2 million barrel Very Large Crude Carrier (VLCC), Tai Hung San


Becker Marine at Electric & Hybrid Marine Expo

Photo courtesy of Becker Marine Systems

Becker Marine Systems product presentation at the dutch Electric & Hybrid Marine World Expo will put a strong focus on environmentally-friendly technology for the marine industry like the world’s first LNG Hybrid Barge HUMMEL.  






 
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