Golar LNG Signs Newbuilding Contract with DSME

Monday, September 22, 2003
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, container and tanker sectors has put pressure on yard capacity. In this situation it has been important for Golar to secure the future growth of our company. The combination of the attractive contract price, fixed earlier this year, and the additional option package makes this deal into a very favourable contract for Golar. It is Golar's intention to work with employment opportunities where the strategic value of Golar's four uncommitted newbuildings can be maximized as a package. Such deals can include time critical infrastructure projects like the Italian Livorno project or other LNG chain projects managed by major LNG receivers/producers. Until such projects can be realized the Board is prepared to trade the vessels in the spot / short-term market. The spot market presently represents in excess of 10% of all trades in the LNG market and is expected to grow significantly." The equity financing of the newbuilding was secured through the USD 57 million equity raising completed in the third quarter when the newbuilding order was negotiated.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

LNG

VT Halter Powers Ahead

If you drive just south of I-10 in Pascagoula, Miss., within 10 minutes you find yourself on the doorstep of VT Halter Marine, arguably one of the more diverse and active shipyards in the U.

OSV Technology: Notable Designs & Deliveries

Though the market for Offshore Support Vessels (OSVs) is soft, advances in technology, fit and finish in  the sector is unrivaled in any other maritime niche over the past five years.

FMC Honors Crowley for Green Initiatives

Crowley Maritime Corp. has been honored with the 2015 Federal Maritime Commission (FMC) Chairman’s Earth Day Award in recognition of the organization’s companywide

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Winch
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: 0.1022 sec (10 req/sec)