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Q-Max Lng

Selling the World's Priciest Ship...

The Zarga.jpg

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.  


Samsung Records LNG Order

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.


Russian Government to Cancel LNG Export Duties

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


Nakilat to Invest $11.5b in Fleet Expansion

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


Qatargas Names its Q-flex Ships

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


Barging Right into LNG

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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


Concordia Leads Tanker Innovation

Concordia Maritime of the Stena Group has again taken the industry lead announcing firm contracts for four (with two options) for an innovative new series of 49,900 dwt tankers dubbed P-MAX. Croatia’s Brodosplit Shipyard was tapped for the job, with delivery of the first ship scheduled for 2005.. The P-MAX is an extension of the creative Stena MAX concept, which was the development of an advanced class of tankers with features to ensure safe operation in the world’s most sensitive waters.


Concordia Maritime;s Interim Report

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Concordia Maritime AB (publ), an international tanker shipping company, announced its interim report. Highlights include: • Net sales: USD 50.55 million • Profit after tax: USD 7.20 million • Profit per share after tax: USD .150 • EBITDA of USD 18.1 (9.2) million • Forecast for 2008 unchanged: A profit before tax of USD 9.03 million Concordia Maritime has ordered ten tankers, which are being built in accordance with the MAX concept


New Sloshing Guidelines for LNG Cargo

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


Yamaha Outboards Recognized as Best Buy

Yamaha VMAX SHO® outboard engines recognized by Consumers Digest as a 'Best Buy' Three Yamaha four-stroke outboards, the Yamaha V MAX SHO® VF200, the Yamaha V MAX SHO® VF225 and the Yamaha V MAX SHO® VF250 have been awarded a Consumers Digest Best Buy rating. “The V MAX SHO® family incorporates plasma-fusion technology that allows them to be particularly efficient, powerful and light.”In determining the ratings


Yamal LNG Arctic Project in Doldrums

Yamal LNG in the Icy Russian Arctic. Photo by Total

 The massive $27 billion Yamal LNG liquefied-natural-gas venture in the Arctic Circle, a centerpiece of President Vladimir Putin’s plan for Russia has been squeezed by U.S. restrictions on OAO Novatek, says a report in the WSJ.  


Strong Returns for Sovcomflot

Grand Aniva is one of two Sovcomflot LNG tankers chartered by the operator of the Sakhalin-2 project – Sakhalin Energy Investment Company (SEIC). The photo has been provided by SEIC.

 Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.   It has posted a gross revenue increase of 11.8 per cent in the first half of 2015 worth USD 754


Hitachi Gas Supply System Order for MHI

LNG pressurizing part of high-pressure gas supply system (MHIs testing equipment of the same type)

  Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Hitachi Zosen Corporation for a high-pressure gas supply system enabling use of natural gas as fuel in marine engines. In lieu of conventional heavy oil, the system supplies liquefied natural gas (LNG)


HHI Orders Regasification Systems from Wärtsilä

The Wärtsilä regasification module seen here with storage tank and filter/heater module (Photo: Wärtsilä)

South Korean shipyard Hyundai Heavy Industries (HHI) has ordered two seawater/propane based regasification modules from Wärtsilä. The systems are to be installed on floating storage and regasification unit (FSRU) vessels owned by Höegh LNG


Dawei LNG Terminal for Shell

A graphical representation of the Dawei Special Economic Zone and deep sea port project. Courtesy: Roland Berger

 Royal Dutch Shell plc recently entered into an agreement with Thailand-based companies to develop a liquefied natural gas (LNG) terminal at the Dawei special economic zone in the Tanintharyi Region in Myanmar, says local daily Myanmar Times.   


Survey Underway for Morecambe Bay LNG Project

Photo courtesy of Bibby HydroMap

Seabed survey company Bibby HydroMap have begun survey operations on the proposed LNG project off Morecambe Bay. The work program comprises geophysical, geotechnical and environmental surveying of the proposed pipeline route to shore and will be undertaken using a multi-vessel approach


Texas LNG’s Brownsville Project Progressing

Artist impression depicting Texas LNG’s planned liquefaction facilities. (Image courtesy of Texas LNG Brownsville LLC)

Texas LNG appoints BNP Paribas as financial adviser for Brownsville LNG project, progresses FERC pre-filing process and completes over 60 percent of front end engineering and Design for facility.   Texas LNG Brownsville LLC announced that BNP Paribas has been appointed as financial adviser


Expert Panel Set for LNG Marine Fuel Seminar

Photo; ECM Training Services

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.  


NLNG Bullish on Prospects

Photo: Nigeria LNG Limited

 The Nigeria Liquefied Natural Gas company (NLNG) has shipped 3,200 liquefied natural gas (LNG) cargoes by Q2 of 2015, since it began international gas exports in 1989, the managing director, Babs Omotowa said, reports Business Day.  


Busan LNG Bunkering Terminal by 2020

Photo Source: Busan New Container Terminal

 A new liquefied natural gas (LNG)-bunkering terminal may become operational at South Korea's Busan New Port by 2020.    South Korean shipping company Polaris Shipping will reportedly invest $500 million (KRW 600 billion) to construct the facility.  


Keel Laid for Crowley’s 2nd LNG ConRo Ship

Photo: Crowley

The keel for the second Commitment Class liquefied natural gas (LNG)-powered, combination container – Roll-On/Roll-Off (ConRo) ship for Crowley Maritime Corp.’s liner services group was laid yesterday during a ceremony at shipbuilder VT Halter Marine, Inc


Qatar Onslaught of LNG Supply to Shake-up the Market

Photo: Qatargas Operating Company Limited

 Gas giant  Qatar is the world’s top supplier of liquefied natural gas (LNG), but in the coming five years it could be surpassed by Australia, a shift which could weigh on its dominance in Asia, reports Reuters.   Asia accounts for almost three quarters of the global market


Rosneft, EGAS Ink LNG Supply Deal

HO of  Egyptian Natural Gas Holding Company

  Rosneft Trading SA, a company of Rosneft Group, and the Egyptian Natural Gas Holding Company (EGAS) signed a Master LNG Supply and Purchase Agreement. The document was signed by the Chairman of Rosneft Management Board Igor Sechin and the Chairman of EGAS Eng


Wärtsilä 34DF Becoming a Trendsetter

Picture of a 6-cylinder in-line Wärtsilä 34DF engine.

  The upgraded version of the Wärtsilä 34DF engine is rapidly becoming established as an industry standard. The three major South Korean shipyards are supporting the use of this engine for auxiliary applications in the LNG Carrier segment where dual-fuel engines are favoured


N-KOM: New VLCC Size Floating Dock

Donnelly Tankers vessel inside new VLCC size floating dock

Nakilat-Keppel Offshore & Marine (N-KOM), the joint-venture shipyard of Keppel Offshore & Marine and Nakilat, continues to see strong interest for its ship repair services in 2015, having already delivered more than 450 projects for shipping and oil and gas companies over the past four






 
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