Lng Orders
Daewoo wins $1.1B LNG Orders
South Korea's Daewoo Shipbuilding and Marine Engineering, the world's second-largest shipyard, said on Monday it has won orders worth $1.1 billion for four LNG (liquefied natural gas) ships. The company said in a filing to the Korea Stock Exchange Bergesen of Norway had placed an order for three LNG carriers, although did not give the buyer of the fourth ship.
Daewoo Gets 690m Qatar LNG Order
According to reports, Daewoo Shipbuilding & Marine Engineering Co has secured an order worth 690m from Qatar Gas Transport Company to build three liquefied natural gas carriers. The vessels will be delivered by April 2009. The shipbuilder plans to boost its annual production capacity of LNG carriers to 15 from eight ships now by 2008. Source: Forbes
LR LNG Fleet Tops 100
Recent orders of classification services for six liquefied natural gas (LNG) ships have resulted in a milestone for Lloyd’s Register: more than 100 LNG ships now exist or are being built to Lloyd’s Register class, which is significant because the new ships (two for Teekay Shipping and four for BP Shipping at Hyundai Heavy Industries) will feature dual-fuel engines, a recent innovation in LNG ship propulsion. Lloyd’s Register currently classes 37% of the LNG fleet worldwide with a total of
New Report Finds LNG Future Bright
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
Qatar Gets 3 Korean Shipbuilders $7b Jackpot
Qatar is becoming a goldmine for Korean shipbuilders as the top three companies won orders for liquefied natural gas (LNG) tankers worth $7 billion. Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries have won combined orders of 34 LNG tankers since 2004. The shipbuilders are hoping to share another 10 orders, when they are commissioned next month. The LNG carriers are high-yield orders
Bergesen Makes Preliminary LNG Agreement
Bergesen has entered into a preliminary agreement with the Algerian oil company Sonatrach for employment of one LNG-carrier for minimum 20 years from delivery. Sonatrach has an option to extend the agreement by maximum five years. The vessel is the third vessel in a series of seven large LNG-carriers ordered by Bergesen at Daewoo Shipbuilding & Marine Engineering Co. Ltd, Korea. The vessel shall be delivered in third quarter 2004.
QGTC Awarded Charters for Six LNG Carriers
Qatar Gas Transport Company Ltd. (Nakilat) announced that it has been awarded 25 year time charters by Qatar Liquefied Gas Company Limited (II), (QGII) for six 'QMax' LNG carriers of approximately 265,000 cubic meters carrying capacity each. These will be the largest LNG carriers ever constructed. According to AME Info, the ships will be ordered from Korean shipyards Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries
Qatar Orders LNG Carriers
According to reports, Hyundai Heavy Industries Co and two other South Korean shipbuilders said they won orders for 10 LNG carriers from Qatar Gas Transport totaling $2.5b. The announcement comes a day after Qatargas ordered the tankers from Hyundai Heavy, Daewoo Shipbuilding & Marine Engineering Co and Samsung Heavy Industries Co to ship the fuel to markets in the US, Asia and Europe. South Korean shipyards’ profit fell in the last two years because higher prices of steel plates used
Höegh LNG to Sell LNG Carrier
Höegh LNG has agreed to sell its LNG carrier Höegh Galleon to Maverick LNG Holdings Ltd on private terms. The Vessel is scheduled to be delivered to its new owner between July and October 2007. In the meantime the vessel is available for employment. The buyer intends to use the vessel as temporary LNG storage associated with their LNG transshipment and storage projects, including prospective power generation development
Korea's Daewoo To Grab Hold of LNG Ship Market
Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300
Crowley Enters LNG Market
Crowley Maritime Corporation's petroleum services group is entering the Liquefied Natural Gas (LNG) market by acquiring Carib Energy LLC. Florida-based Carib Energy, founded in 2011, was the first company to receive a small scale, 25-year, LNG export license from the U.S
Golden Pass Announce Agreement to Export Gas to U.K.
Golden Pass Products LLC (GPP) affiliates Qatar Petroleum International (QPI) and ExxonMobil signed a framework agreement for the proposed liquefaction project at the Sabine Pass, Texas terminal. The agreement establishes a commercial framework to sell up to the full 15
Damen Brest Service 50 Vessels in First Year
Since acquiring Sobrena, Damen Shiprepair Brest has serviced 50 vessels from leading shipowners and managers. The yard’s work portfolio includes a large number of Afra/Suezmax tankers and LNG carriers. The latest project concerns the Höegh LNG owned and MOL LNG Transport
MHI : Landmark LNG Carrier Shipbuild Contract
On May 17, 2013, Mitsubishi Heavy Industries Ltd. (MHI) will sign an agreement with Mitsui O.S.K. Lines Ltd. (MOL) to build a Sayaendo series new-generation liquefied natural gas (LNG) carrier. Sayaendo series ships feature a unique structure that integrates the LNG tank cover with the ship hull
Floating Production Systems to Grow 40% in Five Years
IMA has just completed an in-depth analysis of the floating production sector. The study profiles the deepwater industry, examines the dynamics driving the sector and forecasts orders for floating production systems between 2013 and 2017. Highlighted below are some key findings in the study.
LNG Sloshing Prevention Technology
Amarcon and GTT to develop technology that enhances the quality of sloshing measurement & prediction for LNG carriers. Amarcon, a member of the ABB group, has signed a cooperation agreement with GTT (Gaztransport & Technigaz) to market and further develop a forecasting and advice software
ABS Reports Continued Growth in 2012
ABS hosted its Annual Meeting in New York on April 23, 2013. ABS Chairman, Robert D. Somerville reported that, "despite the uncertainties of the global economy and of the shipping and offshore markets, ABS turned in yet another record performance."
GofM Energy Hub: LNG Exports to India Planned
United LNG, LP and Petronet LNG Limited, India's largest LNG importer, agree to supply LNG from the Main Pass Energy Hub™ project in the Gulf of Mexico. The (conditional) agreement was signed by Petronet LNG Managing Director & CEO, Dr. A.K
China LNG Contracts for GDF Suez
GDF sign significant agreements with Chinese partners for an LNG carrier charter, gas storage and regasification facilities. An agreement with the China National Offshore Oil Corporation (CNOOC) schedules the sub-chartering of the GDF SUEZ Cape Ann LNG carrier from October 2013 for a period
Tsakos Delivers Shuttle Product Tanker
Tsakos Energy Navigation Limited (TEN), a product, crude and LNG tanker operator today announced the successful delivery of its second fully coated DP2 suezmax shuttle product tanker, Brasil 2014, from South Korea. The Brasil 2014 is a sister vessel to the Rio 2016 that was delivered in March
China J/V to Buy Six LNG Carriers
China Shipping Development and Sinopec Kantons are to spend HK$11.71 billion to buy six LNG carriers, which will be chartered to Sinopec. The two companies have set up a joint venture China Energy Shipping Investment (CESI) which is 51 percent controlled by China Shipping and 49 percent by
LNG Bunkering: All One Needs to Know ...
In his newly published book, industry expert Nigel Draffin answers the key questions about LNG bunker fuel. The publishers, Petrospot, say that Nigel Draffin answers the key questions about LNG bunker fuel in his usual informative and lucid style
Japan Warms to ME-GI Concept
One of MAN Diesel & Turbo’s oldest licensees held a successful demonstration of the ME-GI concept on April 17, 2013 at its Tamano works. A large crowd of guests attended the demonstration and the following reception where, among others, MAN Diesel & Turbo’s Dr
Japan Needs U.S. LNG, But Quickly ...
Japanese trade minister Toshimitsu Motegi calls for early U.S. approval for exports to his country of liquefied natural gas (LNG). The Japanese minister made his request at a meeting with Acting Energy Secretary Daniel Poneman, stating that securing a relatively cheap energy source is crucial for
Interlake Steamship to Convert Lakers to LNG
Interlake Steamship moves toward upgrading its fleet to energy efficient, more environmentally friendly LNG fuel. The company has announced that it has reached an agreement in principle with Shell to supply liquefied natural gas (LNG) to support Interlake’s conversion of its vessels