Qatar's Nakilat to Order LNG Vessels

Monday, January 22, 2007
According to reports, Qatargas Transport Company (Nakilat) is expected to order a further 9 to 11 LNG vessels for RasGas-3 and Qatargas-4 this year. At the beginning, Nakilat activities were primarily focused on securing partial ownership of between 30 and 60 percent of the original 29 LNG vessels ordered. This was equal to approximately 54 per cent ownership of the first tranche of ships. This change in strategy, he said, required Nakilat to fund the additional construction costs of these 100 percent owned ships in order to meet the Qatargas and RasGas ship delivery schedules. In order to meet its payment obligations to the Korean shipbuilding yards Nakilat is obligated to cash call the remaining equity contribution from its shareholders this year. This obligation is in accordance with the information provided to the shareholders at the time of the initial public offer (IPO), adding that a reference in the Annual Report for 2005 clearly states that the remaining 50 percent would be requested in 2007.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

ABP orders Two Gottwald cranes

Terex Port Solutions (TPS) has received an order from Associated British Ports (ABP) for two electric Terex Gottwald Model 8 portal harbour cranes in the G HSK 8424 B four-rope grab variant.

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

Baltic Index up for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments.

LNG

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

GTT, Endel Team-up to Roll-out Membrane Containment Systems

21 June 2016. GTT and the Endel company1 reaffirmed their collaboration in the area of LNG as a marine fuel, following the recent signature of a Technical Assistance

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1126 sec (9 req/sec)