Liquefied Petroleum Gas
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.
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
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
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.
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.
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.
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
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
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
Golar LNG Limited is pleased to announce that the company has signed a contract with Keppel Shipyard Limited of Singapore for the first ever conversion of an existing LNG carrier into a LNG Floating Storage and Regasification Unit (FSRU). Keppel Shipyard Limited is the leading ship repair yard for Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) carriers outside Japan. Moss Maritime of Norway (a Saipem company) has prepared the conceptual specification for the FSRU and will
Vessel to Provide World's Highest Level of Energy Efficiency, with Specifications Enabling Passage through New Panama Canal. Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Astomos Energy Corporation for a very large liquefied petroleum gas (LPG) carrier
Dorian LPG Ltd. operators of Very Large Gas Carriers ("VLGCs") says it has received the 'Corsair', the second VLGC in its newbuilding program. ECO VLGC "Corsair" was delivered from Hyundai Heavy Industries and will initially trade in the spot market.
Dorian LPG Ltd., a leading owner and operator of modern Very Large Gas Carriers ("VLGCs"), today reported that it has taken delivery of the ECO VLGC "Corsair" from Hyundai Heavy Industries. The "Corsair" will initially trade in the spot market and is the
The Finnish government granted 65.2 million euros (84.22 million US dollar) in subsidies to build three small liquefied natural gas (LNG) terminals to cut on use of fuel oil and liquefied petroleum gas (LPG) in industry, the economy ministry said on Thursday.
Petchem producers unlikely to buy due to impurities in oil. Big middle distillates yield, less naphtha, LPG; wide variance in API gravities in assays, samples. Tests on samples of the same type of U.S. condensate now heading to South Korea and Japan have raised questions about the ultra-light
StealthGas Inc., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today as part of its fleet expansion program the acquisition of two newbuilding LPG vessels.
Traders Mercuria, Trafigura and SOCAR cut gasoline desks; new refining capacity slashes traditional profitability. U.S. refining boom weighs on global light products. Trading houses are shrinking their gasoline desks in response to a slump in activity, particularly in Europe
Oil logistics specialist Buckeye Partners LP will pay $860 million for control of Trafigura's prized oil facilities in the Texas shale hub amid expectations Washington will relax its crude oil export ban. U.S. firm Buckeye will buy 80 percent of the global commodities trader's South Stream
The Maritime Administration (MARAD) informs it has released a study that evaluates total fuel cycle emissions for natural gas versus conventional marine fuels. This study was conducted as a part of MARAD’s Maritime Environmental & Technology Assistance program
9487 Regency Square Boulevard Jacksonville, FL 32225 Tel: (800) 276-9539 Email: firstname.lastname@example.org Website: www.crowley.com Chairman & CEO: Thomas B. Crowley The Company: Crowley Maritime Corporation is a U.S.-owned and operated marine solutions
Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material.
StealthGas Inc., a shipowning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today that it has priced an underwritten registered offering of 3,500,000 shares of its common stock, at an offering price of $10
Dorian LPG Ltd. a leading owner and manager of modern VLGC's (very large gas carriers), today announced that it has entered into a Memorandum of Understanding ("MOU"), with HNA Logistics Group Co., Ltd. to explore opportunities in the liquefied petroleum gas logistics market
Teekay LNG Partners L.P. has announced that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units
Japan's Mitsui OSK Lines Ltd (MOL) said on Wednesday that it will start transporting liquefied natural gas (LNG) through the Arctic Ocean in 2018 using icebreaker LNG tankers. MOL, with its joint venture partner China Shipping, has ordered three icebreaker LNG carriers from South Korea's Daewoo