Lng Trading

The Marine Industry and LNG

Several years ago many people in the marine industry either did not know about LNG or did not think that it would amount to anything worth more than a passing interest. At that time there were just four LNG import terminals in the and even they were underutilized. Today there are eight LNG import terminals in operation with two more slated for their first “cool down” shipments this year or early next year. In addition there is an LNG facility in just over the boarder where companies are also operation. There are also currently many applications, which have been approved, for new LNG facilities within the and or just off-shore. Even with the slow down in LNG imports due to the recent economic downturn, LNG is expected to continue its rapid growth. Hence the huge investment in LNG ships, facilities and tugs designed for this industry. For the marine industry this has meant extraordinary growth in the tug boat fleets who will be escorting the new massive LNG carriers into our ports. Tens of millions of dollars have been invested to upgrade the tug fleets to meet the stringent safety requirements set by the LNG industry. That industry has enjoyed one of the most exemplary safety records of any marine shipper of petroleum or gas products. Their demands include that state-of-the-art firefighting equipment be installed on the new tugs used to escort LNG ships

Golar LNG Signs Newbuilding Contract with DSME

The Board of Golar LNG Ltd. has confirmed that it has now signed a newbuilding contract with the Korean shipbuilder DSME for one 145,000 m3 LNG newbuilding for delivery in end of 2005 / alternatively beginning of 2006. Included in the contract is an option for up to two more newbuildings with delivery in 2006/2007 to be declared at a later stage. Chairman John Fredriksen says in a comment: "The strong market recovery in the drybulk

ABS Grants AIP for Small LNG Carrier Design

ABS granted engineering company GTT approval in principle (AIP) for a 32,000 m capacity LNG carrier design.   "While a few membrane LNG carriers in the 20,000 m capacity range were built in the 1990s, this is the first new design to be introduced since that time," said ABS Vice President, LNG, Patrick Janssens.   The reason for this innovation, Janssens says, is the development of new markets that have led to a keen interest in smaller LNG carrier designs.  

Shell Orders Two LNG Tankers

The gas and power division of Royal Dutch/Shell ordered two additional liquefied natural gas (LNG) carriers to support its growing global LNG business. Shell International Gas Limited ordered a membrane-type carrier from South Korea's Daewoo Shipbuilding & Marine Engineering and a moss spherical tank carrier from Japan's Mitsubishi Heavy Industries. Shell did not disclose the price for the orders, but industry sources said the market level for a typical LNG carrier was around $175 million.

Connaughton Leads Delegation of U.S. Maritime Officials in Tokyo

On July 24 and 25, Maritime Administrator Sean T. Connaughton led a delegation of U.S. maritime officials in meetings in Tokyo with Japanese counterparts to discuss issues of mutual interest and challenges facing the maritime industry, both around the world and in the bilateral trade.  The talks reflected the major concern of both countries about the impact on the shipping sector of the rapidly expanding consumption of liquefied natural gas (LNG) around the world

LR Guidance on Partial Filling of LNG Tanks

Lloyd’s Register has published a set of comprehensive guidelines to help owners, operators and builders of membrane-type LNG tankers to assess the ability of a containment system to withstand sloshing loads. The guidelines are entitled Comparative sloshing analysis of LNG ship containment systems and provide a means of fulfilling the requirement to take sloshing into account during containment system design in Lloyd’s Register’s Rules and Regulations for the Construction and Classification of

Gazprom Aims to be Top Gas Marketer

Russian natural gas company OAO Gazprom has set its sights on becoming one of the top 15 natural gas marketers in the U.S., www.marketwatch.com reported. The company expects to handle volumes of around 1 billion to 3 billion cubic feet a day or more once Russian exports of liquefied natural gas, or LNG, start flowing around the end of the decade. The company will consider investing in regasification facilities, but so far has no concrete plans to do so

LNG Gains Traction as Alternative Fuel

As Cargo, Fuel or both; LNG is emerging as the clear and clean way forward for the maritime industry.   •    In the Beginning         The use of LNG as a marine fuel is not new. Vessels trading cryogenic LNG have burned boil-off natural gas in steam boilers for many years as a simple solution to maintaining necessary temperatures and pressures within cargo spaces

World's First LNG Fueled Product Tanker

The Bit Viking is reportedly the world's first vessel in service whose main machinery has been converted to burn LNG as fuel. She is also the largest commercial vessel which is not an LNG tanker, to use LNG as fuel. After the conversion which was undertaken under the supervision of classification society Germanischer Lloyd (GL), the 25,000 dwt product tanker successfully completed sea trials. Owned by Sweden's Tarbit Shipping

EU Monitors Market

No improvement in the market and no change in the behaviour of South Korean yards, says fifth Commission report on world shipbuilding The world shipbuilding market continues to face serious difficulties, while certain South Korean yards are still pricing ships below cost, notes the European Commission's latest (fifth) report on world shipbuilding, adopted today. World ship prices are still being depressed by excess supply, due to past expansion of yards mainly in Korea