Sembcorp - LNG Carrier Longevity Contract

Thursday, October 23, 2008

This contract signifies the first time that a major LNG operator has committed itself to a long-term longevity program to extend its vessels’ future trading life when the vessels progressively reach their 20th year in service.

The contract, signed in by Mr. John Charles, Commercial Manager of North West Shelf Shipping Service Company Pty Ltd (NWSSSC) on behalf of IGTC, and Ms Wong Lee-Lin, Executive Director of Sembawang Shipyard Pte Ltd, is the first such contract of IGTC’s Longevity Project, which involves the life extension of 6 LNG carriers over a period of 6 years.

Sembawang Shipyard is a subsidiary shipyard in the Sembcorp Marine Group.

NWSSSC is equally owned by six venture partners; BHP Billiton Petroleum Pty Ltd, BP Australia Shipping Pty Ltd, Chevron Australia Transport Pty Ltd, Japan Australia LNG (MIMI) Downstream Services Pty Ltd, Shell Development (Australia) Pty Ltd and Woodside Petroleum Holdings Pty Ltd. It is the main shipping advisor to International Gas Transportation Company Limited. (IGTC), a company registered in .

With the signing of this contract, Northwest Sanderling, the first of 6 Moss-Rosenberg type LNG carriers from IGTC, is scheduled to undergo life extension/longevity work and upgrading program in Sembcorp Marine’s Sembawang Shipyard at an estimated cost of $23.7 million in June 2009.

This contract is not expected to have any material impact on the net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2008.

(www.sembcorpmarine.com.sg)

Maritime Today


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

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

Offshore

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Update on Seagull Mobile apps for Crew

The Seagull mobile app for crew training status is set to revolutionise the way seafarers track their training records and receive critical safety alerts, by making

Energy

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Paragon Offshore to File for Bankruptcy

Paragon Offshore Plc said it will file for Chapter 11 bankruptcy on or before Feb. 14, becoming the first U.S. energy-related company to seek court protection from

Philippines Mulls Bilateral Sea Talks with China

The Philippines may consider two-way talks with China to resolve a territorial dispute in the South China Sea but only if it wins its case with Beijing at an arbitration tribunal in The Hague,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.0779 sec (13 req/sec)