Bureau Veritas launched a unique Condition Assessment Program for LNG carriers. The CAP works in a similar way to existing Harmonized CAP programs for oil tankers, but has special requirements unique to LNG carriers. Speaking at the SIGTTO annual meeting in San Francisco today, Bruno Dabouis, commercial manager of BV said, "The LNG market is opening up and there are signs that a spot market for LNG carriers may further develop. That means charterers need to be able to demonstrate that they have taken special care when chartering in older vessels, a new phenomenon in the LNG market. Bureau Veritas, the only classification society present in all types of LNG containment systems and propulsion systems, and with a unique pedigree stemming right back to the very first LNG carriers, was well placed to support the current market changes with technical expertise. "BV has brought together its deep research and development into sloshing loads and structural detail, its experience with lifetime structural maintenance, its successful and fully accepted tanker CAP program and its experience with LNG carriers to develop a CAP for LNG vessels. It is fair to both owners and charterers, and has been accepted by Shell, BP and Total already." BV's experience with LNG carriers in service was also instrumental in it winning a tender to provide a life extension study, through its Tecnitas consulting arm
Hyundai Merchant Marine subsidiary has been granted Approved Training Provider status for their facilities and LNG carrier training courses to SIGTTO Training Standards. Lloyd's Register has awarded Approved Training Provider (ATP) Certification to Hae Young Maritime Services Co. Ltd. (HMS), a subsidiary of Hyundai Merchant Marine Co. Ltd (HMM), one of Korea’s largest shipping companies. The HMS Training Center at Busan
South Korean shipyards are expected to win about 75 percent of an estimated 48 orders for liquefied natural gas (LNG) carriers this year, industry officials said on Wednesday. "There are virtually no rivals to compete with Korean shipbuilders in making LNG carriers in terms of price and quality," said Yoo Jae-won, a spokesman for the Korea Shipbuilders' Association. Surging demand for environmentally friendly LNG was expected to raise the number of LNG carrier orders to around 48 this year
Peter Livanos-backed Monaco-headquartered owner and operator of liquefied natural gas (LNG) carriers GasLog Ltd. has completed a USD 1.3 billion credit facility with fourteen international banks to finance the construction of eight 174,000 cbm newbuilds. New York-listed GasLog says 14 banks, plus two export credit agencies, have supported the facility. The Export Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-Sure) are either directly lending or
South Korean shipbuilders are paying large royalties on a core foreign technology for manufacturing liquefied natural gas (LNG) carriers, causing a big reduction in their earnings, The Korea Times reports. To build LNG carriers, most South Korean and foreign shipbuilders currently use a membrane containment system developed by Gaz Transport & Technigaz of France, a key technology for freezing and storing gas in tanks for transport.
LNG carrier with 162,000 metres capacity ordered from Hyundai Heavy Industries by OSC The Oman Shipping Company (OSC) has signed an order for a new build LNG carrier with Hyundai Heavy based in Ulsan, South Korea. The LNG carrier, for delivery in 2014, will have a 162,000 cubic metres capacity, and is to be fitted out with dual fuel engines. The new ship will comply with European ‘Green Certificate’ requirements
With the liquefied natural gas (LNG) trade expected to significantly increase over the next decade, transporting LNG with carriers upwards of 33 percent larger than previous designs means particular attention must be addressed to key technical concerns to assure that the new generation of larger LNG carriers provides the same high degree of reliability as its predecessors. Operators are driving the demand for increased size of these specialized vessels to take advantage of the
Mitsui O.S.K. Lines (MOL) inform it has signed a Head of Agreement on joint ownership and 20-year charter contract for a newbuilding LNG carrier with Tokyo LNG Tanker Co., Ltd. At the same time, MOL signed a contract with Japan Marine United Corporation to build the new vessel. The ship is slated for completion in 2017. MOL will manage the new carrier, which will transport LNG mainly from the Cove Point LNG Project in the United States to Tokyo Gas facilities.
Teekay LNG Partners L.P. announced that it has agreed to acquire a 155,900 cubic meter (cbm) liquefied natural gas (LNG) carrier newbuilding from Awilco LNG ASA, a Norwegian-based owner and operator of LNG carriers. The vessel, which is currently under construction by Daewoo Shipbuilding & Marine Engineering Co., Ltd., (DSME) of South Korea, is expected to deliver in the third quarter of 2013, and subsequent to delivery from DSME to Awilco
April 3 marked another milestone in the rapid development of Chinese shipbuilding capacity as, at separate ceremonies, two of the nation’s shipbuilders delivered the first LNG carrier to be built in and the largest containership to emerge from a Chinese shipyard. Both of these historic first shipbuilding projects were completed to ABS class standards. Shanghai-based Hudong-Zhonghua Shipyard delivered the 147,000 m3 LNG carrier Dapeng Sun to China LNG Shipping (International) Ltd for
GasLog Ltd. today announces that it has signed a time charter party with Centrica plc. ("Centrica") to charter a vessel for a period of seven years. The vessel, a 180,000 cubic meter LNG carrier with XDF propulsion, has been ordered from Samsung Heavy Industries
Nakilat Shipping Qatar Limited (NSQL) signed an agreement with Shell International Trading and Shipping Company Limited (Shell) to begin the planned phased transition of the management of Nakilat’s LNG fleet from Shell to NSQL.
Ahead of the 70th Session of the IMO’s Marine Environment Protection Committee (MEPC), the cross-industry coalition 'SEA\LNG' has highlighted the ability of the liquefied natural gas (LNG) sector to meet the future emissions requirements of the global shipping industry.
Teekay LNG Partners intends to issue new five-year senior unsecured bonds in the Norwegian bond market. Net proceeds from the bonds are expected to be used to fund newbuilding installments, as well as to refinance NOK bonds maturing in May 2017 and general partnership purposes
Mitsui O.S.K. Lines, Ltd. (MOL) has announced the launch of its biannual safety campaign to begin on October 15, targeting all MOL group-operated vessels. MOL views safe operation as a social commitment and gives it the highest of priorities in all of its business activities
A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters.
According to Reuters CBI Energy and Chemical (CB&I), a little known investment firm, plans to order up to 20 LNG carriers, in a deal worth up to US$3.8 billion – a huge prospect to South Korea’s beleaguered shipbuilding sector and a massive boost to the global LNG
GTT's Houston-based US subsidiary, GTT North America (GTT NA), has signed a license agreement with the American engineering company Matrix PDM Engineering. The agreement was signed at the Matrix Service Company headquarters in Tulsa, OK
Keppel Offshore & Marine (Keppel O&M) announced it has secured contracts to build its first two dual-fuel diesel liquefied natural gas (LNG) harbor tugs, and signed a Memorandum of Understanding (MOU) with Keppel-Royal Dutch Shell plc (Shell) to jointly explore opportunities in using LNG
In the last two decades gas shipping sectors have been amongst the faster growing parts of the the world of global shipping industry, says Clarksons Research. This week’s Analysis takes a look at how shipping’s ‘coolest’ sector has grown in prominence to
MISC Berhad (MISC) held the naming and delivery ceremony of its new LNG carrier, Seri Camellia. The 150,200 cu. m. Liquefied Natural Gas (LNG) carrier is the first in a series of five MOSS-Type LNG carriers ordered from Hyundai Heavy Industries Co., Ltd. (HHI) by MISC
Teekay LNG Partners L.P. has entered into a 15-year time-charter contract with the Yamal LNG project, sponsored by Novatek OAO, Total SA, China National Petroleum Corporation and Silk Road Fund, to provide Yamal LNG with conventional liquefied natural gas (LNG) transportation services
Shell loads first LNG vessel, using new LNG fuel infrastructure at Gate terminal. The new LNG fuel infrastructure included the construction of a new berth. This new berth has now started operations. The loading of Shell’s chartered LNG vessel, the Coral Methane happened on September 19th
GAIL India, largest state-owned natural gas processing and distribution company in India, will likely scrap the tender for hiring LNG ships after failing to negotiate acceptable terms with bidders in what would hurt India's ambition to build high-tech LNG carriers at home under the Make in India
Excelerate Energy L.P., in collaboration with Dubai Supply Authority (DUSUP), has completed the first commercial gas-up operation at DUSUP's Jebel Ali LNG Import Terminal via Excelerate's floating storage and regasification unit (FSRU) Explorer on August 31, 2016.