Build Lng

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

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

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?

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 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

Indonesian Company to Buy LNG

State-owned oil and gas company Pertamina will be ready to buy 1.6 million tons of liquefied natural gas (LNG) from Tangguh if China's Fujian Province decides to cut its imports, according to a China Broadcast reports. Fujian signed a long term contract with the Indonesian government in 2002 to import 2.6 million tons of LNG from Tangguh where an LNG plant is being built to be operational in 2008. Pertamina will be able to supply the LNG to Java for which it plans to build a gasification

LR Guidance on Partial Filling of LNG Tanks

Lloyd’s Register has published a set of comprehensive guidelines to help owners, operators and builders of membrane-type LNG tankers to assess the ability of a containment system to withstand sloshing loads. The guidelines are entitled Comparative sloshing analysis of LNG ship containment systems and provide a means of fulfilling the requirement to take sloshing into account during containment system design in Lloyd’s Register’s Rules and Regulations for the Construction and Classification of

LNG Bunker Port in Netherlands a Step Closer

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