Online ship intelligence and information service VesselValue.com has launched a series highlighting the world's most expensive active vessels, and this week focuses on the costliest of all: QMAX liquefied natural gas (LNG) carrier Zarga, which prices in at a whopping $221.8 million. According to VesselValue, Zarga’s sticker price is equal to 1.5 of Real Madrid footballer Gareth Bale’s $145 million transfer fee, 13 12-carat Pink Diamonds at a value of $17 million each, or 49 Lamborghini Veneno Roadsters which cost $4.5 million apiece. We did our own math to calculate the quantity of other items that could be purchased for the price of The Zarga. Olympic size swimming pool ($1 million): 221.8 64GB iPhone 5s ($399): 555,889 German Shepherd puppy ($1,100): 201,636 Lego Maersk Line Triple-E toy ship ($149): 1,488,590 Name a star on the International Star Registry ($54): 4,107,407 The Zarga, built in 2010 by Samsung and owned by Qatar Gas Transport Company, has a capacity of 266,433 CBM and is over 340 meters long, making it one of the largest LNG carriers in the world.
Qatar Gas transport Company (Nakilat) has placed order for another Q-Max LNG carrier, the largest liquefied natural gas tanker in operation, according to a report on www.gulf-times.com. Nakilat signed the shipbuilding contract for Q-Max, with a capacity of 265,000 metric tonnes, with Samsung Heavy Industries, South Korea. With the vessel joining Nakilat service, the company will have a fleet strength will rise to 17. A Q-Max vessel costs about $300mn.
Qatar Gas Transport Company (Nakilat) is investing $11.5b in its bid to become the largest owner of LNG/LPG tankers fleet by the end of the decade. The plan is to acquire 60 ships by 2010 to ferry liquefied natural gas and liquefied petroleum gas worldwide, Nakilat vice-chairman Faisal M Al-Suwaidi is quoted to have said in a report in the Gulf Times. While 46 tankers are meant for LNG transportation, the rest will be used for liquefied petroleum gas supply
A raft of new and innovative concepts for LNG barge missions hits the market, in North America and across the pond, as well. Industry gears up for the soon-to-come need for bunkering, infrastructure and LNG-related logistics. In 2014, innovation – as it turns out – means new ideas for the (previously) boring subject of marine barges. It also means LNG. Paired together, LNG and barges are giving naval architects
Parker Bestobell Marine has recently completed a contract to supply cryogenic Globe and Check valves made in Sheffield, for Hoegh LNG’s series of five FSRUs (Floating Storage Regasification Units) that are being built at Hyundai shipyard (HHI) in South Korea. The high quality valves were a combination of manual, pneumatic, actuated and check valves in sizes DN15 to DN100 and were approved by the Class society DNV.
Dynagas LNG Partners LP enters into new long-term time charter agreements for two of its LNG carriers and maintains current level of cash distribution following its latest drop down from its Sponsor Monaco – March 31, 2016 –Dynagas LNG Partners LP. (the “Partnership”) (NYSE: “DLNG”), an owner and operator of LNG carriers, today announced the following: * Gazprom Global LNG Limited has extended its current charter for the 2007-built LNG carrier
The Russian government may cancel export duties on liquefied natural gas (LNG) following a request from Gazprom, says an RIA Novosti report. The gas giant plans to build two LNG plants near the giant offshore Shtokman gas field and in East Siberia for export to the U.S. market. The move is being discussed by a government committee and is set to be put to Prime Minister Mikhail Fradkov for approval. Both Russia and the U.S. view LNG as the centerpiece of their energy dialogue. U.S
Qatargas has named the first two Q-Flex LNG vessels - Al Ruwais and Al Safliya - at a ceremony held at Daewoo Shipbuilding & Marine Engineering Ltd. (DSME) ship building yard in Geoje Island. The ceremony which was presided over by His Excellency Abdullah Bin Hamad Al-Attiyah, Deputy Prime Minister and the Minister of Energy and Industry and Mr. Neil Duffin, President of ExxonMobil Development Co. officially named the two ships which are the first of 45 large LNG ships to be delivered for
Lloyd's Register, the world leader in the classification of LNG carriers, has published a new guidance document for the design of membrane-technology liquid natural gas containment systems. The document is aimed at improving design procedures with respect to sloshing forces, and is the result of a long program of research and development, including extensive consultation with industry, and an investment of over $1,1m
Nakilat Shipping Qatar Limited (NSQL) signed an agreement with Shell International Trading and Shipping Company Limited (Shell) to begin the planned phased transition of the management of Nakilat’s LNG fleet from Shell to NSQL. Shell has provided a range of shipping services to Nakilat’s LNG fleet since it was established in 2006, including the ship management of 14 Q-Max and 11 Q-Flex LNG carriers and the sharing of Shell’s Shipping & Maritime expertise
GTT said it has received an order from Hyundai Heavy Industries to equip a new LNG carrier with its Mark III Flex containment system. Hyundai's shipyard based in Ulsan, South Korea will build the vessel of 180,000 m3 on behalf of the Norwegian shipping company NORSPAN LNG XI AS (Knutsen)
With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Inc said on Wednesday it would begin trading the first-ever U.S. liquefied natural gas futures contract in May.
The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Korea Gas Corp (KOGAS) said on Thursday it had signed a memorandum of understanding in mid-March with
Nakilat has assumed full ship management and operations of Q-Flex LNG carrier Mesaimeer from STASCo (Shell Trading and Shipping Company Ltd.) with effect from March 23, 2017, as part of the planned and phased transition announced on October 19, 2016.
Once considered the future of gas production, floating liquefied natural gas (FLNG) projects have been firmly relegated to the backburner as global gas producers seek cheaper ways to compete with a surge in U.S. shale supplies and slumping prices.
A tender to supply Italy with about 15 liquefied natural gas (LNG) cargoes between April and September attracted highly competitive winning bids from traders including Gunvor, Trafigura, MET and Uniper, trade sources said. Companies offered to supply the shipments at only a slight premium
Crowley Maritime Corp. and Eagle LNG Partners have started to build a new shore-side liquefied natural gas (LNG) facility on Crowley-leased property at JAXPORT’s Talleyrand Marine Terminal in Jacksonville, Fla. The new LNG bunkering facility will serve Crowley’s Commitment Class
Tsakos Energy Navigation (TEN), a leading diversified crude, product and LNG tanker operator, today announced an up to 18 months time charter with minimum and profit sharing provision for the newly delivered VLCC Hercules I to a major US oil company.
ABS has granted Approval in Principle (AIP) for the Seatransporter-DF, a dual-fuel design concept developed by Algoship Designers Ltd. of Nassau, Bahamas. The design has the capability to accommodate multiple engine types as well as Type-C or membrane containment systems for liquefied natural gas
Singapore’s shipyards are looking to recent investments in capacity, design and newly acquired technology to combat order declines after a decades-long offshore buildup. Sembcorp and peer Keppel are making the most of partnerships in FLNG and showing signs they’ll be okay through the
Royal Dutch Shell PLC has officially shelved its plans to build the Prince Rupert LNG project, which had been planned for Ridley Island in British Columbia. However, it is still considering the potential of its other West Coast LNG option.
Industry expert predicts LNG will remain a key energy source; energy authority expect that Japan’s reliance on LNG will continue to grow Japan imported 8.3 million metric tons of LNG in January, an increase of 1.06 million metric tons compared to the previous year
French oil giant Total held talks with Iranian officials about several projects in the country in 2016, notably a 10 million tonnes per year liquefied natural gas project (LNG), Reuters reported. It has signed an agreement with Iranian authorities for a 50 per cent stake in
Since its first day of operations in May 17, 1989, the Nigeria LNG Limited (NLNG) has recorded no fewer than 45 vessels chartered-in and five chartered out, said a report in ThisDay. The chartered-in including liquefied natural gas (LNG)
Hyundai Heavy Industries Group reports $240 million order for the world’s first liquefied natural gas (LNG) fueled aframax tankers Hyundai Heavy Industries’ shipbuilding affiliate Hyundai Samho Heavy Industries (HSHI) said it recently won a $240 million order to build four 114