EXMAR LPG Sells Two Older LPG Ships

Monday, May 26, 2014

EXMAR LPG (the Joint Venture between EXMAR and TEEKAY LNG PARTNERS) sold the Very Large Gas Carrier FLANDERS TENACITY (84,270 m³ – 1996 built) and the Midsize Gas Carrier EEKLO (37,450 m³ – 1995 built). 

Both vessels are expected to be delivered to their new owners in June 2014. The capital gain realized by EXMAR for its 50% share in EXMAR LPG will be approximately $18 million. 

 
This transaction will generate for EXMAR LPG net cash proceeds of around $44 million. The disposal of older tonnage is in line with the company’s strategy to continuously serve its first class customers with a quality modern competitive fleet.
 
The newbuilding program of Midsize Gas Carriers continues to be on track and, in addition to WAASMUNSTER (38,000 m³) delivered in April, EXMAR LPG will take delivery of the sister ship, WARINSART (38,000 m³), during the first week of June. 
 
One other newbuilding, WAREGEM (38,000 m³) is scheduled to be delivered in the fourth quarter of this year. The remaining nine other Midsize LPG Carriers currently on order will be delivered between 2015 and the first quarter of 2018.
 
BW TOKYO (83,300 m³ - 2009 built), under commercial control of EXMAR LPG since the beginning of May, has been fixed for a two year time charter with a first class customer at rewarding levels.
 
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

Contracts

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Shipbuilding

MHI Receives "Best IR Award"

Mitsubishi Heavy Industries, Ltd. (MHI) has received one of this year's "Best IR Awards" presented annually by the Japan Investor Relations Association (JIRA).

Steven Palazzo Visits HII, Newport

Huntington Ingalls Industries today hosted Rep. Steven Palazzo, R-Miss., for a tour of the company's Newport News Shipbuilding division. Palazzo represents the fourth district of Mississippi,

Everett College to Launch New Research Boat

Everett Community College’s Ocean Research College Academy (ORCA) will launch its new research vesel on November 22 with a celebration at 11 a.m. at the Port of Everett.

Ship Sales

Monjasa Buys Tanker from Eships

The Monjasa Group has purchased a tanker, M/T Eships Bainunah, from Abu Dhabi based Eships, the company announced today. The Turkish-built (2005), IMO-II, 8,

ICAP Shipping in Merger Talks

Shipping market prospects picking up after record downturn; shipbroker M&A deals have gathered pace this year. ICAP's shipping business is in merger talks with rival shipbroker Howe Robinson,

Energy

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

Baker Hughes to Present at Wells Fargo's 2014 Energy Symposium

Baker Hughes Incorporated announced today that the Company's Vice President and Chief Strategy Officer, Derek Mathieson, will present at Wells Fargo's 2014 Energy Symposium on Wednesday,

LNG

HHI to Build FSRU for Höegh LNG

A new Floating Storage and Regasification Unit (FSRU) will be built by the Korean shipbuilding Company Hyundai Heavy Industries (HHI). This FSRU will be the fifth

BG Group's Queensland Curtis LNG to Ship First Cargo

BG Group is set to ship the first cargo of liquefied natural gas from its flagship gas project Queensland Curtis LNG on Dec. 20, a source familiar with the matter told Reuters.

Europe Stockpiling Low Cost, Surplus LNG

Demand from top Asian buyers drops sharply; Asian, European gas price spreads converge. Europe set to becoming dumping ground for LNG. Europe is set to become

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators
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: 0.1576 sec (6 req/sec)