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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MNZ Opens New Office in Port Taranaki

Maritime New Zealand (MNZ) informs that for the first time in 5 years it has a permanent presence in New Plymouth on the opening of a new office at Port Taranaki

NSRP Risk Management Panel and SCA Joint Meeting

The National Shipbuilding Research Program (NSRP) Risk Management Panel will be meeting jointly with the Shipbuilders Council of America (SCA) November 5-6, 2014 in Virginia Beach, Va.

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

LNG

US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to

FERC Approves Freeport LNG Export Project

U.S. federal regulators on Wednesday approved construction of Freeport LNG Development LP's liquefied natural gas export project in Texas. Freeport is the third U.

DW to Present at Upcoming Floating LNG 2014, Houston

Douglas-Westwood (DW) says that its manager in Houston, Andrew B. Meyers will be joining the speakers on the platform at the upcoming 27th-30th October 2014 'Floating

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Port Authority 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: 0.1293 sec (8 req/sec)