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.
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 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
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 ("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
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
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
Hyundai Heavy Industries (HHI) won a $850 million order to build four 150,000 m3 Moss type LNG carriers from Malaysian oil company Petroliam Nasional Bhd (Petronas). The contract also includes an option exercisable by the owner to order four additional same class LNG carriers. The double-hulled LNG carriers are scheduled to be delivered to the owner from the second half of 2016. The tankers for carrying liquefied natural gas will be constructed with four independent self-supporting
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
Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries, the world’s biggest shipbuilder, successfully launched a 162,000 m3 LNG carrier built using the on-ground shipbuilding method for the first time in the world, the shipyard claims. The vessel, designed for delivering chilled natural gas, was ordered by Golar of Norway in February, 2012. It, measures 289 x 45.6 m with a 26 m depth
The Norwegian firm OceanSaver, a provider of ballast water treatment (BWT) systems for medium and large vessels, has just marked its 10th birthday with the news that 2013 will be its best ever year for sales. CEO Houtan Houshangi has revealed that the company has secured over 50 orders for its
Russian President Vladimir Putin has signed a law on the liberalization of exports of liquefied natural gas (LNG). According to the document, two new categories of license holders are entitled to the right to export LNG, in addition to Gazprom, reports Arctic-Info.
International classification society Bureau Veritas is classing the world’s largest bilobe gas tanks. They are nearing completion at China’s Sinopacific yard and will be installed in a series of four 27,500 cu m semi-refrigerated LNG/Ethylene carriers building for Denmark’s
GE Marine, Dalian Shipbuilding Industry Company (DSIC) and Lloyd’s Register announce they have jointly developed a design for a gas turbine-powered LNG carrier. This unique carrier will provide low life cycle cost, high environmental performance and flexible design.
The 488-meter-long-hull of Shell’s Prelude floating liquefied natural gas (FLNG) facility has been floated out of the dry dock at the Samsung Heavy Industries (SHI) yard in Geoje, South Korea, where the facility is currently under construction
Wärtsilä is to supply the extended engineering scope for the initial, basic, and production designs for two Container RoRo vessels to be built for US-based owner, Crowley Maritime Corporation. The vessels will be powered by liquefied natural gas (LNG)
Capstone Turbine Corporation, a clean technology manufacturer of microturbine energy systems, is expanding its product offering in the marine market and has appointed six Capstone marine distributors. Capstone marine microturbines, which run on cleaner and less costly liquid natural gas (LNG)
British Columbia’s first liquefied natural gas (LNG) proposal at Grassy Point near Prince Rupert has filed its export application with Canada's National Energy Board (NEB). "Aurora LNG is moving forward with their plans to export B.C
Joakim (Kim) Ullman has been appointed President of Concordia Maritime AB with effect from 1 January 2014. Kim comes from Stena LNG where he has been CEO since 2012 and he will replace Hans Norén who will leave Concordia Maritime at the end of the year after ten years as president.
The November 2013 edition of Lloyd’s Register’s Gas Technology Report is dedicated to LNG as a marine fuel. Highlights include a look at developments in Canada – a shipowner, the regulator and a shipbuilder talk about gas fuelled shipping
Russian energy company Gazprom takes a look at its marketing policy in the international markets of small & large-scale LNG supply in line with its updated LNG production and supply strategy, and decides to focus on the Asia-Pacific market.
Commitment Class Jones-Act Ships to Offer Lower Emissions; Increased Speed, Reliability and Capacity, and Optimized Vehicle Shipping Decks. The next chapter in Crowley’s storied history of shipping and logistics services between the United States mainland and Puerto Rico will be written
Exmar NV announced that it expects to submit to the United States Securities and Exchange Commission (SEC) the first draft registration statement for Exmar Energy Partners LP (the MLP). The initial public offering of the MLP's common units is expected to commence after the SEC completes its review
At a recent meeting of Gazprom's Management Committee, Chairman Alexey Miller noted that the project was progressing rapidly and on schedule – the first train of an LNG plant will be commissioned in 2018.
On the occasion of the World LNG Summit held in Paris on November 18-21, 2013, GTT was awarded the LNG Technological Innovation Award 2013 by CWC for its work on the development of its membrane containment systems to reduce the daily Boil-Off in LNG Carrier tanks.