BG Global LNG appointed David Maxwell to the leadership team of the Global LNG business, according to a Chron.com report. As vice president and general manager, LNG Business Development, Maxwell will be responsible for developing new LNG opportunities in Asia Pacific for BG as well as helping to realize existing opportunities. Maxwell was with Woodside where he was director, Gas and Marketing and was involved in the development of Woodside's natural gas and LNG portfolio. He brings an in-depth knowledge of the oil and gas markets in the Asia Pacific region. Prior to this he was with Santos and had responsibility for marketing and business development. Maxwell will be based in BG's offices in Singapore. Source: Chron.com
Chantiers de l´Atlantique, ALSTOM Group, has awarded ABB Marine a contract to supply the electric propulsion system for a new 153,000 cu. M. LNG carrier, owned by Gaz de France. The vessel will be built in France by Chantiers de l´Atlantique and delivered in 2005. The supply of medium voltage power systems to LNG carriers has been a strong growth area for ABB. According to Martinus Brandal, head of ABB´s global Marine business, “In the last three years
The new report “The Drewry Annual LNG Shipping Market Review and Forecast” finds one sector of shipping with a bright future. The last thirty months has seen a massive surge in interest in the previously conservative LNG business with unprecedented levels of ordering activity for new vessels, much increased interest in new supply projects and new/expanded, terminals. With a growing fleet and more trading opportunities, the traditional structure of shipping could gradually be
The Board of Arrow Energy Limited (Arrow) to unanimously recommend its shareholders vote in favour of the joint proposal to acquire 100% of Arrow shares. CS CSG (Australia) Pty Ltd, the 50/50 joint venture company owned by Shell and a subsidiary of PetroChina, has entered into an agreement with Arrow for the proposed acquisition under which it has agreed to pay $4.3 cash per share for all of the shares in Arrow, representing a total consideration of $3.2b
A steel cutting ceremony for the hull of Petronas' first Floating Liquid Natural Gas (FLNG) held at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. The steel cutting event signifies a major milestone for the project, which according to Petronas is the world’s first, and the construction phase now commences to meet its commissioning schedule in 2015. The ceremony was led by Petronas’ President and Group CEO
Teekay LNG Partners L.P. announced that Beverlee F. Park has accepted an invitation to join Teekay LNG's Board of Directors and to Chair its Audit Committee, effective March 11, 2014. Park replaces Robert E. Boyd who retired today from the Teekay LNG Board after serving as a Director and Chair of its Audit Committee since 2005. Park has extensive management and board experience in a variety of industry sectors. She has served at the board, CEO, COO and CFO level in publicly-traded
Leif Höegh & Co. ASA (LHC) has sold its 36% shareholding in Lady Navigation Inc. to Frigo Navigation Ltd. on private terms. Lady Navigation Inc. owns the two reefer vessels Lady Racisce and Lady Korcula. The "Lady" vessels were built in 2000 and have a capacity of 590 000 cbft. Transfer of the shares in Lady Navigation Inc. to the new owner was concluded on 30 June and marks LHC's final exit from the reefer segment. LHC sold its commercial reefer operation, Cool Carriers, to
MISC Bhd expects freight rates for crude oil to remain soft over the next two years as competitors put more new tankers to sea. MISC earns 90% of its profits from shipping oil and liquefied natural gas (LNG). A subsidiary of Petroliam Nasional Bhd (Petronas), the world's largest carrier of LNG. LNG is shipped under long-term contracts, but MISC still faces significant exposure to oil freight rates, with crude oil tankers accounting for 40% of its profits.
Effective June 1, Mitsubishi Heavy Industries, Ltd. (MHI) will establish LNG Project Management Department, within the Environmental and Chemical Plant Project Management Division of the Company's Engineering Headquarters. The new department will be dedicated to market exploration of LNG (liquefied natural gas) related business opportunities. By establishing the new unit, MHI aims to expeditiously respond to the growing demand for LNG related facilities that is being fueled by rapid expansion
Mitsui O.S.K. Lines, Ltd. has announced the company’s top news stories for 2013 as follows: ■ Business Structural Reforms (BSR) executed (January – March); Single-year management plan “RISE 2013” started (April) Transferred sales and vessel operations of the dry bulker fleet (over 130 vessels) to Singapore to advance business expansion. ¥101.5 billion was allocated as cost of BSR during the fourth quarter of FY2012.
51/60DF engines to power LNGCs MAN Diesel & Turbo has announced a further order for its MAN 51/60DF engine. After a longer period of evaluation, an international consortium, including Teekay LNG Partners, has selected a Dual-Fuel Diesel Electric (DFDE) propulsion solution featuring
The latest 'Barometer Report' from Trelleborg's marine operations business sector, discusses the issues impacting ports and terminals around the globe, and reveals the most optimistic outlook on investment since the annual industry survey began in 2010
Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant. Adding to renewed demand is the more potent interest of major east Asian companies
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.
Tor E. Svensen, CEO of DNV GL addressed the SMM 2014 trade fair in Hamburg, explaining that the classification society's key themes were: enhancing operational efficiency; improving safety, and smarter data. Svensen also looked at some of innovative new projects and research underway at DNV GL
Leading provider of classification services to the maritime and offshore industries, ABB, says it has been chosen to class two LNG-fueled containerships to be built in China for German owner GNS Shipping/Nordic Hamburg. The 1,400 teu vessels will feature dual-fuel propulsion enabling them
GE Marine and Dalian Shipbuilding Industry Company (DSIC) announced at the SMM 2014 exhibition they have received Approval in Principle (AIP) for their jointly developed gas turbine-powered LNG carrier design. The AIP, issued by Lloyd’s Register
The U.S. Energy Department on Wednesday approved liquefied natural gas exports from two projects, as lawmakers pressed the administration to move quickly to clear a backlog of applications to ship gas abroad. Sempra Energy's Cameron LNG facility in Louisiana and Carib Energy's small-scale
The U.S. government should ensure that international trade of U.S. natural gas, and potentially crude oil, will offer opportunities for the domestic shipping industry, maritime groups said on Wednesday. Booming shale gas production has put the United States on track to become a major exporter
Crowley Maritime Corp. informs that its subsidiary Carib Energy LLC has been granted a 20-year, small-scale U.S. Department of Energy (DOE) export license for the supply, transportation and distribution of U.S.-sourced liquefied natural gas (LNG) into Non-Free Trade Agreement (NTFA) countries in
Shipbuilders Council of America (SCA) informs that The House Subcommittee on Coast Guard and Maritime Transportation held a hearing today on America’s domestic maritime industry with a special focus on how the industry is responding to America’s surging domestic energy production.
Wednesday at the SMM trade fair in Hamburg, DNV GL presented Hyundai Heavy Industries (HHI) and United Arab Shipping Company (UASC) with an Approval in Principle (AIP), recognizing the technical feasibility of the LNG fuel system design for the A14 and A18 series of container vessels
The increasing use of LNG as a marine fuel is further emphasized with the latest order for Wärtsilä's dual-fuel engine technology. A new cement carrier being built at the Scheepswerf Ferus Smit yard in the Netherlands will feature a six-cylinder Wärtsilä 34DF main engine
So what’s keeping ship operators awake at night these days? Plenty, it seems. Sluggish recovery from a lingering worldwide recession, unsustainable debt loads, endemic overcapacity in most shipping trades, punishing freight rates
Legislation promotes revitalization of maritime industry through export of liquefied natural gas on U.S. flagged ships Chairman Duncan Hunter (R-Calif.) and Ranking Member John Garamendi (D-Calif.) held a hearing Wednesday that brought together the House Committee on Transportation and