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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Wärtsilä Electrical Systems for SIEM RoRo Ferries

Wärtsilä has been awarded the contract to provide integrated turnkey electrical solutions for four new RoRo ferries being built at the Flensburger Schiffbau-Gesellschaft (FSG) yard in Germany.

Mermaid Maritime Bags Subsea Contracts, Delays Newbuilding

Thailand’s Mermaid Maritime said it has been awarded a number of subsea contracts in the Middle East with a total worth of $11million.   It has also reached

Diana Charters Out Two Bulkers

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels,

LNG

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

Höegh LNG Turns to Profit in 1Q

Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015.

World’s Biggest LNG Buyer Becomes Seller

EDF Trading, a wholly-owned subsidiary of French power giant EDF, has signed an LNG sales and purchase agreement with Japanese LNG aggregator Jera Co Inc, one

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.0731 sec (14 req/sec)