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.
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
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
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
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
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.
ABB contracted to provide energy-efficient and environmental friendly solution for four LNG vessels to be built in Korea. Total orders in the first quarter of 2013 landed by ABB, worth close to $40 million, came from three gas transportation industry players and are for the supply of power and electric propulsion equipment for LNG vessels to be built in South Korea. ABB will supply its propulsion plant to work in combination with a duel fuel diesel engine plant on board a 155
GTT receives order from Hyundai Heavy Industries for a FSRU addressed to Höegh LNG GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), has announced a new order for a Floating Storage & Regasification Unit (FSRU) from the Korean shipbuilder Hyundai Heavy Industries (HHI). This new FSRU, addressed to Höegh LNG, will be equipped with Mark III technology and is expected to be delivered in
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.
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
Following last week's landmark referendum results, VesselsValue has compiled a list of the top five U.K.-based shipowners and their total fleet value in USD billions. 1-Zodiac Maritime: car carriers, containerships, bulk carriers and crude, product and LPG carriers
On 26th June 2016, a landmark development for the shipping industry will occur with the opening of the new third set of locks at the Panama Canal. Clarksons Research takes a look. Around ten years in the making, the expansion will enable significantly larger ships to transit the
Conrad Shipyard has formed a new business unit focused on LNG projects. Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery, said it continues to actively pursue other LNG opportunities, including developing designs for additional transport barges
Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek. VEB said in a statement that the guarantee would help encourage overseas financing for the Yamal project
Slowing growth in the size of the shipping fleet will reduce the shortage of officers over the coming years, according to the latest Manning report published by global shipping consultancy Drewry. The global shipping fleet – encompassing all sectors except the non-cargo
21 June 2016. GTT and the Endel company1 reaffirmed their collaboration in the area of LNG as a marine fuel, following the recent signature of a Technical Assistance and License Agreement (TALA) for the construction of GTT membrane containment systems
Monaco-headquartered owner and operator of liquefied natural gas (LNG) carriers GasLog Ltd. has launched a debt financing of USD 1.05 billion with a number of international banks to re-finance six legacy vessel facilities. The Legacy Facility Re-financing covers eight on-the-water
Golar LNG Limited announced that it has entered into a 50/50 joint venture with investment vehicles affiliated with private equity firm Stonepeak Infrastructure Partners. The joint venture company, Golar Power Ltd, will offer integrated LNG based downstream solutions
PAO Sovcomflot (SCF Group) and VTB Bank have signed a $260 million 13-year loan agreement, providing financing of construction of an Arctic liquefied natural gas (LNG) tanker for the Yamal LNG project. The agreement was signed on June 17, 2016 by Sergey Frank
ABSG Consulting Inc., a subsidiary of ABS Group of Companies, Inc. (ABS Group), has been contracted by Kinder Morgan, Inc. to develop a Maintenance and Integrity Program for the liquefied natural gas (LNG) regasification terminal at Elba Island (Elba LNG Project) near Savannah, Georgia.
Specialist liquefied natural gas (LNG) training and simulation provider GTT Training has been awarded a contract by Teekay Shipping to supply the G-Sim LNG simulator software into its training centers in Glasgow, Manila and Bahrain.
Daewoo Shipbuilding & Marine Engineering (DSME) has signed new contracts with Maran Gas Maritime and Maran Tankers Management for the construction of two ME-GI powered LNG carriers and two VLCCs, both shiptypes with a number of options. Maran Gas Maritime has already four ME-GI powered LNG
NYK is participating in a study launched by Japan’s Ministry of Land, Infrastructure and Transport and Tourism (MLIT) to explore the feasibility of LNG bunkering in Yokohama. This study is examining the technological and infrastructural requirements for establishment of an LNG
India plans to form an alliance with Japan and South Korea to buy liquefied natural gas (LNG) at "reasonable prices", the country's oil minister Dharmendra Pradhan said. India may soon rope China into the alliance as well, he said.
The Nigeria Liquefied Natural Gas Limited (NLNG) will this month receive the last of the six new vessels it bought for the transportation of liquefied natural gas (LNG) to various parts of the world, says a report in The Nation.