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

Contracts

Bahrain US$35-M Land Reclamation Contract for GLDD

Provider of dredging services in the United States and a major provider of environmental & remediation services, Great Lakes Dredge & Dock Corporation (GLDD) says

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report.

LNG

Editorial: Gas ... It's Both the Question & the Answer

When the time comes to pull an edition together, sometimes the content simply takes on a life of its own, as is the case with the July 2014 edition and the proliferation of ‘gas’ throughout.

EXXONMOBIL Files Export Application for Alaska LNG Project

In another important step forward for the Alaska LNG project, an application to export liquefied natural gas (LNG) was submitted to the U.S. Department of Energy by EXXONMobil.

Bureau Veritas Kick-starts LNG Bunkering

International classification society Bureau Veritas has published a comprehensive set of guidelines on LNG Bunkering, with the aim of speeding adoption of LNG as

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Salvage Ship Electronics Ship Repair Sonar 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: 0.1552 sec (6 req/sec)