Höegh LNG and Mitsui OSK Lines, Ltd. (MOL) confirm the signing of long term time charter parties for two Shuttle and Regasification Vessels (SRV) with SUEZ LNG Trading SA. These vessels are specifically designed to service an offshore natural gas import terminal to be built in Massachusetts Bay offshore the city of Boston on the US East Coast. The vessels will be delivered in 2009 and 2010. The SUEZ owned Neptune LNG LLC received the final license issued by MARAD for the construction of the terminal on 23 March. Environmental awareness and safety The LNG re-gasification vessels and the deepwater port installations can meet the most stringent environmental regulations anywhere in the US for such terminal facilities. By placing the terminal services offshore there is no need for land-based terminals that could affect the local environment. The transportation of LNG by ship has an outstanding track record when it comes to safety.
European oil major Total has agreed to supply 500,000 tonnes a year of liquefied natural gas (LNG) for 10 years to China's privately-run ENN Group, Total said on Thursday. The supplies of the super-chilled natural gas will start in 2018 upon completion of ENN's planned receiving facility near the eastern coastal city of Zhoushan, Total said in a statement on its website. Beijing is freeing up the nation's LNG trade as part of broad reforms that allow private companies to invest in oil
Cheniere's North American LNG Gateway Program with issuance of a Request for Proposals to sell to Cheniere up to 200 cargoes per year of liquefied natural gas (LNG) for the years 2008 - 2010. Cheniere's North American LNG Gateway(TM) program will provide global LNG suppliers a direct platform to nominate cargoes into Cheniere's LNG receiving terminals starting with the Sabine Pass LNG Receiving Terminal, which is currently under construction in Louisiana
World LNG demand is forecast to rise from 158 billion cubic meter (bcm) to 269 bcm by 2010 and to 428.5 bcm by 2020. This growth represents an average annual trade growth of 7.6% over the near-term, with a slowing to 5.4% through to 2015 and 4.9% up to 2020. Such trade growth will necessitate an increased vessel building program. Currently there are 59 vessels on order, but to match the expected development of trade volumes an additional 33 vessels are required through to 2010
With two major LNG conferences taking place this week on opposite sides of the world - the third annual LNG Global Congress in London and the World LNG Series Asia Pacific Summit in Singapore - AtoBviaC, the specialist maritime route provider, has carried out a thorough review of all LNG trades to ensure that key ports and vessel manoeuvres in this important sector remain covered. LNG vessels are some of the most expensive in the industry
International classification society Bureau Veritas is classing the world’s largest bilobe gas tanks. They are nearing completion at China’s Sinopacific yard and will be installed in a series of four 27,500 cu m semi-refrigerated LNG/Ethylene carriers building for Denmark’s Evergas. Each of the IMO Type C bilobe tanks has a capacity of 9,686 cu m. Two of the tanks in each vessel will be supplemented by a third conical Type C cargo tank and a smaller LNG fuel tank on the
Amarcon and GTT will develop technology that enhances the quality of sloshing measurement and prediction. Amarcon, a member of the ABB group, today announced it has signed an agreement with GTT (Gaztransport & Technigaz) on mutual development of forecasting and advice software system onboard LNG carriers. The deal was closed during the Gastech exhibition in London. GTT (Gaztransport & Technigaz) is a French engineering company formed in 1994 by the merger of the two major players
Over the past couple of decades, natural gas (NG) has become a fuel of choice for power generation. One way of increasing the availability of NG is through the use of liquefied natural gas (LNG). Global LNG trade is expected to grow by 30% in the coming few years. In connection to LNG production growth, receiving and re-gasification capacity must grow as well. A substantial part of this growth will come from the development of small-mid scale LNG receiving and re-gas terminals
Asian spot liquefied natural gas prices ended their 2-month rally this week, interrupted by weak demand in Japan and South Korea as falling crude oil prices push importers to turn to oil-linked long-term LNG supplies. Spot LNG prices for November delivery lost ground to $14.60 per million British thermal units (mmBtu), versus $15 per mmBtu last week, amid still scarce demand from end-users in Asia. Most LNG trade takes place via 20-year supply deals offered by major oil companies and
There are a number of exciting LNG liquefaction prospects around the world in 2016, both under construction and prospective. The question is whether the demand of East Asia is strong enough to support the economics of an abundant supply of liquefaction opportunities. A report by Visiongain tackles that question, forecasting the feasibility and likelihood of further liquefaction and regasification investment around the world.
Carnival Corporation & plc, DNV GL, ENGIE, ENN, GE, GTT, Lloyd’s Register, Mitsubishi Corporation, NYK Line, Port of Rotterdam, Qatargas, Shell, TOTE Inc. and Wärtsilä are among firms that are part of a new cross-industry initiative called SEA\LNG
Japan's anti-monopoly regulator is investigating whether clauses in liquefied natural gas (LNG) contracts preventing buyers from selling the fuel to third parties hurts competition, Bloomberg News reported on Thursday, citing unidentified sources.
A group of South Korean companies including shipbuilders have come together to establish an association dedicated to developing liquefied natural gas (LNG) bunkering facilities and infrastructures including LNG-fueled vessels, says a report in the Pulse.
Japan's first LNG-fueled ship, Sakigake, which is a tugboat owned by NYK has been recognized with a Technology Special Award at the 2015 Ship of the Year Awards sponsored by the Japan Society of Naval Architects and Ocean Engineers (JASNAOE)
Oslo-based LNG shipping company, Awilco LNG, reported a first quarter freight income of US$8.9 million, down from $12.1 million in the same quarter the previous year. The pure play LNG transportation provider said that an oversupply of shipping in the carrier market
Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply, company officials said on Wednesday.
EDF Trading, a wholly-owned subsidiary of French power giant EDF, has signed an LNG sales and purchase agreement with Japanese LNG aggregator Jera Co Inc, one of the world’s largest buyers of liquefied natural gas. Jera, a joint venture between Tokyo Electric Power Co
ABS, a provider of classification services to the global marine and offshore industries, has teamed up with partners Arista Shipping, Deltamarin, GTT and Wärtsilä in the “Project Forward” joint development project (JDP) to develop a dry bulk carrier concept that employs LNG
Prices for liquefied natural gas (LNG) spot cargoes for Japan, the world's top buyer, fell in May to the lowest since the trade ministry started publishing figures more than two years ago, official data showed on Thursday. The average price of spot LNG contracted in May fell by 10 cents
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and freight rates performing. But occasionally it can be worth pointing the telescope in the other direction
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
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
Qatargas, the World’s Premier LNG Company, today announced a flexible Sale and Purchase Agreement (SPA) with RWE Supply Trading (RWEST), a leading European electricity and gas company. Qatargas will deliver up to 1.1 million tonnes of Liquefied Natural Gas (LNG) per annum to RWEST in North
It was another lacklustre month for the shipping industry as freight rates in almost all sectors softened further. Drewry’s Earnings Index declined by 0.5% during the month to 52.4. The new locks of the Panama Canal finally became operational in June
Russia’s Novatek Gas & Power has supplied its first ever cargo of liquefied natural gas, marking the company’s first step into global LNG trading business. The cargo was sourced from Trinidad & Tobago’s LNG plant in Point Fortin and delivered to the