Bergensen Makes Final Negotiations on LNG Contract

Wednesday, February 27, 2002
Bergesen has agreed with Nigeria LNG Limited (NLNG) on a preliminary agreement for the employment of four LNG-carriers for a minimum of 20 ½ years from delivery. Final contract is subject to NLNG making its final investment decision on its further extension called NLNG Plus.

Subject to same investment decision, Bergesen will enter into an agreement with Daewoo Shipbuilding & Marine Engineering Co. Ltd., Korea, to build the vessels. Delivery shall take place in first, third and fourth quarter 2005, and in first quarter 2006. Total project price will be about $710 million, including interest and other expenses during construction period. The agreement is based on four vessels of 140.500 cbm each, but the vessels' capacity can be increased to 145.000 cbm at NLNG's option. The capital element of the charter rate is fixed for the entire period, while the operating element is subject to an annual adjustment. When all four vessels are delivered, the annual charter income will amount to about $100 million. Bergesen may invite partners to own up to 49 percent equity in vessel 3 and/or 4. NLNG has an option to purchase each of the four vessels at agreed stages during the contract period, first time five years after delivery from the yard. Provided final agreement is concluded, Bergesen will have seven LNG-carriers under construction at Daewoo, of which six are employed for minimum 20 years from delivery.

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

Australia, US Order Anti-ship Missile Decoys

Design of the next generation of anti-ship missile decoys is set to commence following the signing of two contracts between the Australian Defense Force and BAE Systems Australia Pty Ltd.

General Dynamics Bags $ 50 mi Submarine Contracts

General Dynamics Advanced Information Systems, a business unit of General Dynamics was awarded two contract modifications totaling $50 million to continue supporting

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1229 sec (8 req/sec)