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

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

De Beers Orders Specialized Ship from Kleven

Kleven signed a contract with diamond company De Beers Marine Namibia, part of De Beers Group, on the building of a highly specialized vessel for deep water mineral exploration.

FMT Options for another Towboat from Eastern

Eastern Shipbuilding Group, Inc. announce that Florida Marine Transporters, Inc. of Mandeville, La. exercised another additional 90’x32’x10’ “Canal Class” Inland

Tanker Trends

MARAD Seeks Comments on Proposed Policy for Deepwater Export Applications

The Maritime Administration (MARAD) is seeking comments on the agency’s proposed policy to accept, evaluate and process license applications for the construction

Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

LNG

Moore Stephens Expects Vessel Operating Cost to Rise

Vessel operating costs are expected to rise by almost three per cent in both 2014 and 2015, according to a new survey by international accountant and shipping consultant Moore Stephens.

Fredriksen eyes Takeover of Flex LNG

Shipping tycoon John Fredriksen is aiming to take control of Oslo-listed Flex LNG following his purchase of 12.7 million shares that brought his stake in the firm to 43.

Technip & Fluor Bag RAPID UIO Project

Technip, in a joint venture with Fluor, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction 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: 0.1112 sec (9 req/sec)