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Liquefied Petroleum Gas

MC Shipping Acquires Tanker

MC Shipping Inc. has taken further steps to focus on the liquefied petroleum gas (LPG) shipping sector with an agreement to acquire a liquefied petroleum gas (LPG) tanker from the A.P. Moller - Maersk Group of Denmark. The vessel, Hans Maersk is a 1993-built semi-refrigerated LPG carrier of 20,700 cbm capacity. The acquisition is being funded out of current cash holdings and a bank loan. The vessel is expected to be delivered before July 31, 2006. Simultaneously with the purchase, she will be time-chartered back to A.P. Moller - Maersk for a minimum period of 5 years. The Company further announced that it has signed contracts to sell its two small coastal bulkers, Bay Trader and Link Trader. Delivery to buyers is expected within June 2006.


Kuwait to Bid Tankers Soon

The Kuwait Oil Tanker Company (KOTC) will float a tender to build four crude oil tankers soon, according to a report on Xinhua. The budget for the new fleet is reportedly up to $130m. According to Xinhua, KOTC has almost finished its first modernizing phase of oil tanker fleet, which includes nine tankers. Among which two tankers will be for crude oil, three for petroleum products, two for liquefied petroleum gas


KOTC to Order Mega Vessels

According to AFP, Kuwait Oil Tanker Co. (KOTC) will soon order four giant oil tankers expected to cost some 500 million dollars, chairman Abdullah Al Rumi said on Wednesday. The new order was approved by the national oil conglomerate Kuwait Petroleum Corp. (KPC), and will be offered in a tender soon, Rumi told the official KUNA news agency. Each has a capacity of 300,000 tonnes and will replace old tankers in the company’s fleet of 24 vessels.


Nakilat to Invest $11.5b in Fleet Expansion

Qatar Gas Transport Company (Nakilat) is investing $11.5b in its bid to become the largest owner of LNG/LPG tankers fleet by the end of the decade. The plan is to acquire 60 ships by 2010 to ferry liquefied natural gas and liquefied petroleum gas worldwide, Nakilat vice-chairman Faisal M Al-Suwaidi is quoted to have said in a report in the Gulf Times. While 46 tankers are meant for LNG transportation, the rest will be used for liquefied petroleum gas supply


MHI Wins Gas Ship Order

Mitsubishi Heavy Industries Ltd. reportedly won an order for four liquefied petroleum gas (LPG) carriers from a shipping unit of British energy giant BP PLC, with the first due for delivery in 2006. While a total order value was not divulged, it is believed to be the first time that a Japanese shipbuilder has won an order for four LPG carriers all at once. The double-hull ships will have a capacity of 83,000 cu. m. each.


Singapore's Epic Gas Order Two Big LPG Carriers

Epic Gas Ltd. says it has contracted Kyokuyo Shipyard Corporation in Japan to build two 11,000 cbm fully-pressurised gas carriers to be delivered in 2016. This latest order brings the total newbuild contracts for the year to eight fully-pressurised vessels. In addition Epic Gas has taken delivery of three bareboat vessels during the year. The company says it is also actively looking at opportunities to purchase high quality secondhand tonnage.


MC Shipping to Buy Two Tankers

MC Shipping Inc. said on July 5 that it plans to buy a pair of 15,360 cu.m., semi-refrigerated liquefied petroleum gas tankers from Germany's Bernhard Schulte Group. The company did not disclose the cost of the ships, but together with its recent purchase of the 20,700 CBM-capacity Hans Maersk, MC Shipping spent a combined $71.5m on the three vessels. The company said it expects to take delivery of the Tyco Brahe and the Immanuel Kant sometime before July 31


Technip Awarded Supply Contract for Australian Gas Field

Inpex Corporation awarded Technip a flexible pipe supply lump sum contract for the Ichthys gas field in Australia. Inpex has novated this contract to McDermott as part of the overall subsea umbilical, riser, flow line EPCI contract. The Ichthys LNG project is a Joint Venture between Inpex (76 percent, the Operator) and Total (24 percent). Gas from the Ichthys field, in the Browse Basin approximately 200 kilometers offshore Western Australia


ABB Wins Third Ichthys FPSO Major Contract

ABB appointed main electrical contractor (MEC) for a new floating production, storage and offloading (FPSO) vessel at the Ichthys oil & gas field in the Timor Sea off Western Australia. The order is worth $30 million and was awarded by the engineering, procurement and construction (EPC) contractor for the FPSO, Daewoo Shipbuilding & Marine Engineering. This is the third major contract that ABB has been awarded for the Ichthys oil and gas project


MES Expands Gas Carrier Lineup

Mitsui Engineering & Shipbuilding Co., Ltd. (MES), foreseeing the effects of the shale gas revolution to maritime industries, has been developing new type medium size multi gas carrier for sea transport of liquefied natural gas (LNG) and co-product of shale gas such as ethane and ethylene gas (LEG). In the coming decade, LNG carriers (LNGC) may probably be classified into large scale LNGC and medium scale LNGC centering on the hub ports over the world, the builder said.


Russia Plans Fuel Shipments to Syria from Crimea

Russia plans to supply Syria with 200,000 tonnes of liquefied petroleum gas (LPG) per year via the Crimean port of Kerch, two trading sources told Reuters.   The plans are a further sign of cooperation between the two countries despite hopes in the West that Russia might stop shielding


Commerzbank Sells 18 Ships for $254.5mln

KKR & Co LP's Embarcadero Maritime unit will pay $254.5 million to buy 18 dry bulk and container ships from Commerzbank AG's Hanseatic Ship Asset Management GmbH, the companies said on Thursday.   U.S. private equity firm KKR and London-based independent ship operator Borealis Maritime


NLNG Bullish on Prospects

Photo: Nigeria LNG Limited

 The Nigeria Liquefied Natural Gas company (NLNG) has shipped 3,200 liquefied natural gas (LNG) cargoes by Q2 of 2015, since it began international gas exports in 1989, the managing director, Babs Omotowa said, reports Business Day.  


Qatar Onslaught of LNG Supply to Shake-up the Market

Photo: Qatargas Operating Company Limited

 Gas giant  Qatar is the world’s top supplier of liquefied natural gas (LNG), but in the coming five years it could be surpassed by Australia, a shift which could weigh on its dominance in Asia, reports Reuters.   Asia accounts for almost three quarters of the global market


USCG Marine Safety Alert

The U.S. Coast Guard issued a marine safety alert today to remind all gas carrier owners and operators to ensure that all personnel follow approved Safety Management System cargo handling procedures and industry best practices.   The USCG cited a recent investigation into a cargo compressor


UAE Shipping Delegation to Meet with Greek Counterparts

Image: Drydocks World

 A delegation of Middle East maritime heavyweights including H.E. Khamis Juma Buamim, chairman & group CEO Drydocks World and Maritime World and Rashid Mohammed Al Habsi, the chief executive of Tasneef, will attend the ‘Maritime Transportation of Energy and Mediterranean Ultra Deep


CSL to Supply 5 Ships to Shipping Corp, Signs Pact with IHC for Dredgers

Photo: Cochin Shipyard Ltd

 Shipping Corporation of India Ltd (SCI) will buy five vessels from Cochin Shipyard Ltd (CSL) and issue tenders for buying two used liquefied petroleum gas (LPG) carriers as it looks to re-start ship purchases that were frozen after poor financial performance


Skangass Celebrates Topping Up

LNG terminal in Pori: NOK Skangass

 Nordic liquefied natural gas operator Skangass  has celebrated a topping out ceremony at its Pori LNG terminal. The company said it was making progress in the construction of the storage tank for Finland's first LNG import terminal at the southern port of Pori.  


Panama Council Approves New Canal Tolls

Image: Panama Canal Authority

The Cabinet Council of the Republic of Panama has officially approved a proposal to modify the Canal tolls structure, following a recommendation from the Panama Canal Authority (ACP) Board of Directors.   The accepted proposal—which modifies the pricing structure for most Canal


CNPC Eyes Myanmar for LNG Terminal

Image: China National Petroleum Corporation

 China's biggest oil and gas company China National Petroleum Corp.(CNPC ) has expressed interested in  a terminal in Kyaukphyu in Myanmar  to receive imported Liquefied natural gas (LNG).   China National Petroleum Corporation has proposed developing a terminal in Kyaukphyu


Radio Holland Inks Service Deal with BW Fleet Management

The Service Agreement with BW Fleet Management is for 13 vessels

  Radio Holland, part of Imtech Marine, has concluded a service agreement with leading tanker, gas and offshore maritime group BW Fleet Management (BWFM). The two-year agreement covers all the navigation and communication equipment onboard 13 LPG vessels


Radio Holland, BWFM Ink Service Agreement

Photo: Imtech Marine

Radio Holland, part of Imtech Marine, has won a service agreement with tanker, gas and offshore maritime group BW Fleet Management (BWFM). The two-year agreement covers all the navigation and communication equipment onboard 13 LPG vessels. Radio Holland also provides remote support for these


Varun Splits into Two

Image: Varun Shipping Co. Ltd

 Mumbai-based shipping firm Varun Shipping Co. Ltd  will be split into two listed entities after the Bombay high court approved a demerger scheme.   The Company announced that according to the Composite Scheme of Arrangement and Amalgamation


Canada LNG Import on Indian Menu

Dharmendra Pradhan: Minister of State (Independent Charge) Petroleum and Natural Gas, Govt. of India

 India is considering importing liquefied natural gas from Canada towards meeting its requirements, the petroleum ministry said.   Petroleum Minister Dharmendra Pradhan met Canadian Natural Resources Minister Greg Rickford to discuss enhancing energy cooperation between the two


Japan Creates World's Largest VLGC Player

Map of Terminals: ENEOS Globe Corp

 Japanese Astomos Energy Corp. has announced that it has signed a cooperation agreement with ENEOS Globe Corp. aimed at merging the two companies' gas fleets, thereby creating a new giant in the booming tanker market.   The two partners will tap opportunities to best create an






 
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