Japanese Joint Venture on LNG Carriers

MarineLink.com
Monday, March 25, 2013
"Sayaendo" Photo credit MHI

Mitsubishi Heavy Industries (MHI) and Imabari Shipbuilding jointly establish the MI LNG Company, Limited.

Through establishment of the JV, the two companies aim to proactively prepare a structure capable of responding to large-scale LNG carrier construction projects, which are expected to increase in tandem with expanding global demand for LNG. By combining MHI's technology development capabilities and Imabari Shipbuilding's cost competitiveness, supported further by the effective management of their respective shipyards, the two companies look to win a solid place in the growing international LNG carrier market.

The JV, which will have its head office in Minato-ku, Tokyo, will be capitalized at 50 million yen. MHI will own 51% of equity and Imabari Shipbuilding will hold the remaining 49%.

Upon receiving an order for an LNG carrier, the JV will prepare the specifications, etc., and then order ship construction either to MHI's Nagasaki Shipyard & Machinery Works or to Imabari Shipbuilding.

 With shipyards of two companies at its disposal, the JV will be able to secure collective shipbuilding capacity of more than eight LNG carriers per year. This will enable the JV to take orders for multiple LNG carriers, putting it in a position to vie against Korean and other large shipbuilders.

Regarding LNG carrier types, besides the conventional Moss type with spherical LNG tanks and the membrane type, the JV can also offer the "Sayaendo," a new-generation LNG carrier* developed by MHI as a high value-added vessel evolved from Moss-type carriers but achieving enhancements in energy savings and operability.


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

Shipbuilding

Keel Laid, Fabrication Started on 2 Navy Warships

This week, General Dynamics Bath Iron Works celebrated two milestone events for the Arleigh Burke-class program. On October 30, Bath Iron Works held a keel laying

AVEVA E3D Takes Center Stage

Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets.

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

Tanker Trends

Easing US Oil Export Ban Unlikey to Raise Gasoline Prices

A government study on Thursday essentially supported the notion that easing the decades-old restriction on exporting U.S. crude was more likely to lower than raise

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

Iran Gas Exports to Europe Would Take at Least 5 Years

Iran would take at least five years to start exporting natural gas to the European Union if sanctions were removed, industry experts said on Wednesday. Last month,

LNG

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

US Natgas Exports Would Raise Energy Prices but Boost Economy

Expanded U.S. liquefied natural gas exports would mean a modest price increase for domestic consumers, but the higher costs would be offset by a boost to the economy, the U.

Korean Register to Drive LNG Fuelled Shipping

Korean Register (KR) will work alongside the Asia-Pacific Economic Cooperation Secretariat (APEC) to promote the use of LNG fuelled ships in the APEC region. APEC

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage 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: 0.1542 sec (6 req/sec)