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. Alternatively Maverick is considering specialized deployment as the company has completed extensive engineering associated with various Höegh Galleon conversion alternatives including FSRU (Floating Storage Regas Unit) and FLNG (Floating Liquefaction of Natural Gas) options. The 87,000 cubic meter capacity Höegh Galleon was built in 1974 and was acquired by Höegh LNG in 1998 and rebuilt to high standard. The vessel operated under a long term time charter to Suez LNG North America until 2006 when Suez LNG North America ordered the vessel in lay-up and later terminated the charter originally valid until 2017 against a cancellation fee. Höegh LNG will continue to manage the vessel technically for an unspecified period of time. Höegh LNG is a fully integrated LNG transportation entity operating a fleet of six LNG carriers of which five are wholly or partly owned. The company took delivery of two new LNG carriers in 2006 and placed orders for two innovative Shuttle and Regasification Vessels (SRVs), with an option for a third.
Exxon Mobil Corporation (ExxonMobil) and Mitsui O.S.K. Lines, Ltd. (MOL) announced that they have selected Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong), a subsidiary of China State Shipbuilding Corporation, to build four LNG carriers in China. These carriers will provide LNG transportation from the Papua New Guinea (PNG) and Gorgon Jansz LNG projects and will be jointly owned by MOL and China Shipping (Group) Company (CS).
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
Wärtsilä Land & Sea Academy (WLSA) today opened a new training center in Turku, Finland. This is one step for WLSA in its development program of opening three Academies for global coverage of training and competence management services to the personnel of ship owners and power plant owners. A new training centre was opened at Subic Bay in the Philippines in November 2005 and the third is located in Fort Lauderdale, USA
International classification society Bureau Veritas has been chosen to class the 153,500 cu m LNG carrier ordered by Gaz de France from Chantiers de l'Atlantique this week. This is the largest ever LNG carrier and is due for delivery in 2005. The order includes an option for a second vessel. BV helped develop the concepts for the vessels, and developed unique new rules to allow the yard and owners to break new technological frontiers.
ABS, a global provider of classification services to the marine and offshore industries, announces the opening of a new office in Beijing. This move shows ABS' determination in expanding best-in-class service for the Chinese market. This new office will allow further collaboration with government, industry, academic institutions and research organizations and is part of ABS' continued commitment to serving the growing marine and offshore industries in China.
International classification society Bureau Veritas has responded to demand for safe LNG transportation in the Arctic regions by developing new high-level tools to assess cargo sloshing in ice conditions. It has also developed a cutting-edge probabilistic method for assessing ice loads on structure which will reduce the time and data needed to assess the structure of vessels and units designed for heavy ice operation.
Bureau Veritas has responded to demand for safe LNG transportation in the Arctic regions by developing new high-level tools to assess cargo sloshing in ice conditions. It has also developed a cutting-edge probabilistic method for assessing ice loads on structure which will reduce the time and data needed to assess the structure of vessels and units designed for heavy ice operation. Pierre Besse, Director of Innovation, Bureau Veritas, says
Emissions regulations from 2015 onwards are driving shipowners to a crossroads on fuel selection. Ahead of Europort 2013, Rotterdam, Dutch interests are making significant waves in tangible investments in LNG as a fuel option. While there is not consensus on the potential of liquefied natural gas (LNG) as a marine fuel, the concept is gaining traction rapidly as using LNG reduces nitrogen oxide (NOx) and carbon dioxide (CO2) emissions from ships
The companies have signed a number of agreements for construction and long-term operation of the vessels for Sakhalin-2 project. At an official ceremony in Moscow, Sakhalin Energy Investment Company Ltd. (Sakhalin Energy) and Sovcomflot Shelf (SCF Shelf) on behalf of Sovcomflot Group have signed a contract for the construction and long-term operation of the multifunctional icebreaking supply vessel for Sakhalin-2 offshore platforms. Operations under the contract will continue for 20 years
Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of the "Sayaringo STaGE," a next-generation LNG (liquefied natural gas) carrier. The Sayaringo STaGE was developed as a successor to the "Sayaendo1," the company's highly acclaimed LNG carrier evolved
Classification society ClassNK has granted approval to the design of the new 28AHX-DF dual-fuel engine developed by Niigata Power Systems Co., Ltd. The new engine is slated to be used as the main engine on a new LNG-fuelled tugboat being built by Keihin Dock Co., Ltd. for NYK Line
Oslo-listed liquefied natural gas (LNG) shipper Hoegh LNG reported third-quarter earnings below expectations on Wednesday and said its market could remain challenging for the next two to three years due to an oversupply of vessels. Hoegh, which operates LNG carriers and regasification units
Plentiful supply, low prices and strict regulations on air pollution are fuelling a swift move towards using LNG as fuel for ship propulsion in the USA and Canada. In Europe strict regulation in port is pushing passenger ship owners to use LNG fuel while berthed.
Interferry has welcomed a decision at last week’s IMO Maritime Safety Committee meeting (MSC94) setting out rules for the location of fuel tanks on LNG-powered ships, a decision that the trade association said will safeguard further development of the LNG option.
A new Floating Storage and Regasification Unit (FSRU) will be built by the Korean shipbuilding Company Hyundai Heavy Industries (HHI). This FSRU will be the fifth in the series at HHI and the seventh in total owned by the Norwegian Company Höegh LNG.
Demand from top Asian buyers drops sharply; Asian, European gas price spreads converge. Europe set to becoming dumping ground for LNG. Europe is set to become a dumping ground for the world's unwanted gas supplies this winter as Asian demand for sea-borne shipments fizzles out
Norwegian hybrid to be the first LNG battery ferry to operate on commercial routes Corvus Energy, Siemens AS and Fjord1 have announced the award of the contract for the Fannefjord LNG hybrid ferry. The refit Fannefjord will use a 1,050V, 410kWh Energy Storage System (ESS) consisting of 63
A memorandum of understanding (MOU) was signed today between DNV GL and Qatar’s premier shipyard Nakilat-Keppel Offshore & Marine (N-KOM) to promote liquefied natural gas (LNG) as fuel within the maritime and offshore industry. The signing ceremony took place during DNV GL’s
OAO Sovcomflot (SCF Group) today reported results for the nine months and third quarter (Q3) ended 30 September 2014. Nine months 2014 – Financial Highlights (IFRS accounts) USD
Crowley Maritime Corp.’s Liquefied Natural Gas (LNG) services group has been awarded a second, multiyear contract to supply containerized, U.S.-sourced LNG to a pharmaceutical company’s manufacturing plants in Puerto Rico. The contract
The U.S. Department of Energy gave two final approvals on Friday to Freeport LNG Development LP to export liquefied natural gas, or LNG, from its project in Texas to any country. The planned project in Quintana Island, Texas, would have the capacity to export up to 1
Malaysian energy services firm Dialog Group Bhd said on Friday it would work with Petronas Gas Bhd on a 2.7 billion ringgit ($807 million) project to develop liquefied natural gas (LNG) regasification facilities in the southern state of Johor.
Imtech Marine equipped the first LNG-Hybrid Barge with green technology by order of Becker Marine Systems. The LNG-Hybrid Barge, which will supply the AIDA cruise fleet with energy in Hamburg, is fitted with Imtech Marine’s electrical solutions and fire extinguishing equipment
Ceremony signals the start of construction for SEA-Vista ECO Tanker, the first of three tanker ships to be constructed locally at NASSCO. General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics, signaled the start of construction for three 50,000 deadweight ton, 330