Lloyd's Register (LR) released the results of its extensive research into the LNG market. Talking at the LNG conference The role of LNG in North American and Caribbean gas supply in Washington D.C., LR said that between 27 and 75 new LNG ships will be needed to meet the demand for LNG over the next decade in the US market alone. Many factors have been considered by LR in its forecast of the LNG market, including consideration of replacement of ageing existing ships, take-up of excess capacity at existing import terminals and a rash of new import terminal projects that are likely to succeed. The US market finds itself short of energy. Gas is the clean burning fuel-of-choice for the electricity-generating plants mooted for construction in the US over the next decade. LNG is being targeted to provide a large proportion of this demand. This dictates new import, gasification and distribution facilities within the US. To serve these facilities, ships to transport the LNG are a pre-requisite since the most suitable exploitable sources are remote from the US mainland. However, one of the features of today's U.S. market is that it is increasingly supply-led and there are just not enough ships to go around. From the 128 existing ships in the world fleet, around 116 are tied into long-term charter, although current indicators suggest that spot trading is on the increase. Talking at the conference, Graham Marshall, vice president marine support, Lloyd's Register Americas, Inc
Lloyd’s Register is to class all six of the next series of large liquefied natural gas (LNG) ships ordered by Qatar Gas Transport Co Ltd (NALIKAT) for the fifth train of the Qatargas II project. These ‘Qmax’ ships will be the world’s largest LNG ships. They will be twin-skeg, driven by two diesel engines and fitted with re-liquefaction plant. They will transport gas from Qatar to the US. Three of the ships will be built at Samsung Heavy Industries (SHI), with a cargo capacity of 266
The gas market is exciting, but only for those with a steady nerve and long-term commitment. Over 20 new LNG import projects have been mooted for the U.S. alone. We are witnessing an unprecedented expansion of shipping capacity to meet this and worldwide expansion of demand. Nearly 30 percent of the world fleet of LNG ships by gross tonnage (excluding options) have been ordered within the past two years. A number of these are already earmarked for U.S. import projects
As the demand for LNG grows, the Chinese government has recognized that in expanding its LNG capabilities, it must build-up the skill set of its maritime professionals in this vital sector. A new course created by Braemar Engineering aims to support this growing demand for LNG expertise in China and increase understanding of STCW amendments concerning operation and management regulations for liquefied vessels. Developed in conjunction with the Cambridge Academy of Transport and Shanghai
The state-owned gas utility GAIL (India) has postponed the tender date for its $7.6 billion newly built LNG ships for the third time as it did find any takers. The state-owned gas utility GAIL has for the third time postponed the last date of bidding, as it couldn't finding any takers for its $ 7.6 billion tender to buy newly-built LNG ships The company first postponed the last date of bidding from October 30 to December 4 and then to January 6
Dynagas Ltd., GasLog Ltd. and Golar LNG Ltd today jointly announced having entered into an LNG carrier pooling agreement to market their vessels, which are currently operating in the LNG shipping spot market. The LNG Carrier Pool allows the participating owners to optimise the operation of the pool vessels through improved scheduling ability, cost efficiencies and common marketing. The objective of the LNG Carrier Pool is to serve the transportation requirements of a rapidly growing
Araldite LNG adhesives from Huntsman Advanced Materials are being employed by shipyards, including Samsung Heavy Industries in the construction of a new LNG ship. The vessel is the 100th of its kind to employ Araldite adhesives and to be built for use in the global LNG industry. LNG ships are enormous ocean-going vessels that transport supplies of LNG between energy rich and power hungry countries. The global LNG market is experiencing a period of rapid growth
According to reports, China LNG Shipping (Holdings) Ltd plans to put the first liquefied natural gas (LNG) carrier built in China into operation by the end of this year, serving Guangdong Dapeng LNG Co, an official of China LNG said. A company official said China LNG would also build carriers for CNOOC Ltd's LNG terminals in the eastern province of Fujian and in Shanghai, which are expected to be operational in 2009
According to a Feb. 7 report from Chinese news agency, Xinhua, China State Shipbuilding Co. (CSSC), the nation's biggest shipyard, launched three self-developed models of liquefied natural gas (LNG) ships. The three LNG vessels, with a capacity of 160,000 cubic meters, 175,000 cubic meters, and 220,000 cubic meters, are built to meet the increasing shipping demand as the world's economy is on the track of recovery, said the CSSC. (Source: Xinhua)
According to a report from Bloomberg, Hyundai Heavy Industries Co. (009540 KS) surged 11% percent after receiving an order for two LNG ships Dynagas Ltd. of Greece, Samsung Heavy Industries Co. (010140 KS) gained 1.8% after it won a $3b order to build a FPSO facility for Shell Development Pty Ltd., Daewoo Shipbuilding (042660 KS) rose 1.8% and Hyundai Mipo Dockyard (010620 KS) rose 3.5%. (Source: Bloomberg)
Three of the top liquefied natural gas (LNG) tanker owners have decided to market 14 vessels jointly on a spot charter basis, part of a new pooling arrangement that is aimed at cutting operating costs in a depressed market. The pool, consisting of eight modern vessels from Norwegian shipper
LNG carrier freight rates have come under severe pressure due to rising fleet supply and stabilizing LNG demand, as Japan prepares to restart its nuclear power plants. Despite the general market belief that new LNG supply from Australian projects will provide ample employment to the growing fleet
ECM Training Services, LLC, in conjunction with Galway Group, will hold an interactive training seminar entitled "Pursuing ECA Compliance: Is LNG as a Marine Fuel Viable?" September 22-23, 2015, at Minute Maid Park in Houston.
China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set up a wholly owned subsidiary China VLOC Company Limited to operate 400,000 dwt ore carriers in Hong Kong.
Nor Lines’ new flagship MV Kvitbjørn is ready for its naming ceremony and regular operation as “the most environmentally friendly ship in the world,” the vessel’s owner announced. The naming ceremony will take place on April 16 at Skagenkaien in Stavanger, Norway.
Monaco-based liquefied natural gas carrier owner GasLog has reported a sharp increase in profits in 1Q15, saying the sector's medium- to long-term outlook remains encouraging. Group net profits jumped to $13.8 million in 1Q15 from $6
ABS, a provider of classification services to the maritime and offshore industries, has been chosen to class a new design of medium-sized LNG carrier to be built in China for Landmark Capital. The 45,000 cbm vessel, featuring self-supporting IMO Type-A tanks mounted within an insulated hold
Skangas announced that the first ever bunkering station for liquefied natural gas (LNG) in the Nordics is open and operating successfully. The new bunkering station fuels Fjord Line’s cruise ferries, which are the first - and largest - in the world to use "single fueled
Creole Spirit launched to sea 87 days after keel laying Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, was floated out at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in South Korea on May 29
BG Group plc today announces it has started up and loaded its first LNG from the second production train at the Queensland Curtis LNG (QCLNG) facility in Australia. The first LNG from Train 2 set sail on the Maran Gas Posidonia. At plateau production, expected mid-2016
Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, has registered a half yearly net profit of $135 million (QR490.2mn), up 10% on the same period last year. The healthy financial results reflect “Nakilat’s strategic development
Höegh LNG Holdings Ltd. has sold the LNG carrier LNG Libra (built 1979) to a Chinese energy company for around USD 20 million. The Company has received 15% of the purchase price and will receive the remaining 85% by the end of the first quarter 2016
Liquefied Natural Gas Ltd informed that its 100% owned project company, Magnolia LNG, LLC signed a legally binding agreement with Meridian LNG Holdings Corp for firm capacity rights for up to 2 million tonnes per annum (mtpa) at Magnolia LNG
GasLog Ltd. today announced that it has ordered two new 174,000 cubic meter LNG carriers from Hyundai Heavy Industries Co., Ltd. ("Hyundai") in South Korea. The vessels are expected to be delivered in the second half of 2017
Global shipping giant Teekay LNG Partners can count itself as owner of the world’s most expensive fleet of whole gas (LPG and LNG) ships, worth a combined $6.9 billion, according to online ship intelligence and information service VesselsValue.com.