Oversupplied Japanese LNG Players to Sell off Excess Volumes
Asian spot LNG prices extended losses this week as oversupplied Japanese utilities sought to offload cargoes and as key European gas benchmarks softened. Asian prices for LNG delivery in March fell 25 cents to about $7.75 per million British thermal units (mmBtu), traders said, ranging from $8/mmBtu to about $7.60/mmBtu. Prices tailed off even more sharply into April, currently trading at around the $7/mmBtu mark, they said. One trader said utilities in Japan "have overbought due to warmer than average temperatures at the end of 2016 and the current cold spell doesn't look like it will last…
Meet the ULFPS
While seeking to consolidate its existing LNG carrier workload by bidding for new tonnage to serve the Qatari export traffic and other projects, Spanish shipbuilder IZAR has intensified its research endeavors so as to create a broader business platform in the energy market. The group has thrown its weight behind a new initiative aimed at developing floating plant incorporating gas-to-liquids (GTL) technology to extract and convert gas from remote offshore fields into premium grade liquid products. The joint industry research and development project, known as Seagas, draws in IZAR Fene Shipyard (the former Astano establishment), Bermuda-based engineering corporation Foster Wheeler, and other partners from various disciplines.
Spain: IZAR Shows Its Mettle in the Gas Sector
As the sole shipbuilding organization outside eastern Asia with a current involvement in the construction of large LNG carriers, IZAR is determined to maintain a long-term position in a promising, higher value-added field of the newbuild market. The present business profile is based on a series of membrane-type vessels of 138,000-cu. m. capacity, contracted in recent years in the face of fierce international competition and oriental domination of gas tanker production. However, the gathering momentum behind the Spanish group's research and development drive has increased its offering to the LNG transportation sector beyond the impressive new generation of ships now taking form in Sestao and Puerto Real for Spanish and Norwegian interests.
Largest Spanish RoPax Enters Service
The largest Spanish flagged RoPax ferry, named Fortuny, has been delivered by IZAR's Puerto Real shipyard to the Spanish shipowner Trasmediterranea. The contract for the construction of this ferry was landed by Puerto Real yard, formerly part of Astilleros Españoles group, on July 30, 1999. The new ferry has become the fastest vessel to join the owner's fleet, with a 23.5 knot speed on the engines' 85 percent continuous service rating. On trials, the vessel reached a top speed or more than 25 knots. Propulsion power is supplied by four 7,240 kW diesel engines rated at 500 rpm, coupled by pairs to two shaft lines and two CP propellers. Maneuvering equipment includes two 1,000 kW bow-tunnel thrusters. With an overall length of 566 ft. (172 m), a breadth of 86 ft.
