I.M. Skaugen Completes Newbuild Program

Thursday, October 30, 2003
I.M. Skaugen ASA, Oslo (IMSK) will take delivery of its sixth vessel in the newbuilding program, MV "Norgas Napa", on October 31, 2003. The vessel is built by the Hudong - Zhonghua Shipbuilding Group in Shanghai, China. The successful completion of the newbuilding program combined with the new alliance with A.P. Møller - Maersk have placed Norgas Carriers and Maersk, with the joint venture MNGC, a one of the world's leading gas carriers The Norgas fleet currently consists of 19 gas carriers (18 with ethylene carrying capacity) has about 150,000 cbm capacity. The age of the Norgas fleet have with these new vessels been reduced to an average of 16 years. The total delivered cost (incl. of all pre delivery cost such as supervision and financing cost during construction) is about $21.5 million per vessel. The company reported that it was very satisfied with the cost of the vessels, the quality of the work of the shipyard and thus the production capabilities. These are the first ethylene gas vessels made by this shipyard The vessels were built in China, owned by a Chinese company and will sail under Chinese Hong Kong flag. A long term, financing agreement is secured with the Export Import Bank of China in Beijing (EXIMBANK) for a 10 year "Buyers Credit" facility, an agreement that allows for a fixed base interest rate in USD for 75% for the vessels contract price and for a 10-year period.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

Brazil AHTS Contract Breakthrough for Havyard

Havyard says it is to deliver the ship design and equipment for four anchor handling tug supply (AHTS) vessels that are to be built and operated by the Brazilian

Darwin, Australia Scene of KAKADU Exercise Planning

Over 1,200 military personnel from the Asia Pacific and Indian Ocean regions have completed collaborative, tactical warfare planning during the first week of the

LNG

Policy Uncertainty Threatens to Slow Renewable Energy Momentum

IEA forecast sees renewable power as a cost-competitive option in an increasing number of cases, but facing growing risks to deployment over the medium term. The

SHIPPINGInsight Extends Early-bird Registration

SHIPPINGInsight 2014 is extending the deadline for early-bird registration to Sept. 15. Attendees registering online at www.shippinginsight.com/choose-event prior to midnight Sept.

LNG Finalizes Acquisition of Bear Head LNG Project

Liquefied Natural Gas Limited today informed having finalised the acquisition of 100% of Bear Head LNG Corporation (BHLC). This follows the announcement

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
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: 0.1149 sec (9 req/sec)