Bw Gas News

The global liquefied natural gas (LNG) carrier containment market was USD 11.21 billion in 2018 and is expected to reach around USD15.56 billion by 2025, growing at a CAGR of 4.9% between 2019 and 2025.The LNG carrier containment market is majorly driven by the rising demand for natural gas from various industries and LNG’s growing number of residential and commercial applications, said a report by Zion Market Research.Furthermore, LNG has witnessed an exponential increase in its demand as an automobile fuel in recent past, which has bolstered supportive government regulations for cleaner fuel that aims to reduce dependence on petroleum…

Avance Gas Holding, a Bermuda-based company engaged in the transportation of liquefied petroleum gas, said that announces Christian Andersen will step down as President.Peder Simonsen (CFO) will serve as interim CEO until a permanent successor is appointed."The Board would like to thank Andersen for his significant contribution to the Company since inception," said a press note.Christian Andersen (born 1960) founded Avance Gas in September 2007 together with Stolt-Nielsen, and was hired as President. Mr. Andersen holds a masters degree in business and marketing from Oslo Business School.He has 25 years' experience from the industry.

The floating liquefied natural gas (LNG) company  Höegh LNG Holdings announced that Håvard Furu is appointed as new Chief Financial Officer (CFO) of Höegh LNG AS effective 1 March 2019.The interim CFO, Steffen Føreid, will step down effective 1 March 2019 and will from then continue in his role as Chief Executive Officer and Chief Financial Officer of Höegh LNG Partners LP.Håvard Furu comes from the position as CFO of law firm Wikborg Rein. Before that he was CFO in Western Bulk in the period 2009 to 2017 and was formerly employed by BW Gas as Assistant Director Strategy and Finance.From 1997 until 2005 he held various positions within auditing with PriceWaterhouse Coopers. Mr.

Standard Chartered said on Tuesday it had completed three shipping deals worth more than $1.6 billion in recent months.   The deals include in December a $684.5 million up to 12-year facility for BW Gas JuJu LNG, a joint venture between BW Group and Japan's Marubeni. In November, the bank also structured a $350 mln Islamic facility for National Shipping Company of Saudi Arabia (Bahri). The month before it closed a $572 mln loan to subsidiaries of India's Reliance Group, the bank said in a statement.   Reporting by Tom Arnold

Government aims for second terminal startup by mid-2017. Pakistan has launched a tender for a second liquefied natural gas (LNG) import terminal, a government official said on Tuesday. The nation of 190 million people can only supply about two-thirds of its gas needs. The ruling party, which campaigned on promises of solving the energy crisis, wants to ease shortages by expanding LNG shipments before a 2018 general election. The official, who declined to be named, said the tender was launched earlier this month with a request for proposal (RFP) by Jan. 24. The government wants the terminal, to be built at Port Qasim in the southern city of Karachi, to be operational by around mid-2017, the official said.

Seven companies reportedly met with Egyptian Natural Gas Holding Co. (EGAS) to discuss an  liquified natural gas (LNG) tender, including: Vitol, Noble Group, Trafigura, EDF Trading, PetroChina, Shell and Gas Natural, reports Reuters. EGAS will buy 55 LNG cargoes from November this year to December 2016 through a tender it has agreed to with those seven different companies. Originally, only 45 LNG cargoes were to be delivered. The cargoes are expected to meet much of Egypt's near-term energy needs as the government tries to cope with an energy shortage. Falling output and rising demand have turned the country from an oil and gas exporter to net importer and it has emerged as a major new market for LNG.

A second liquefied natural gas (LNG) import terminal arrived in Egypt without cargo on Wednesday and will start operating in the third week of October, state gas board EGAS head Khaled Abdel Badie told Reuters. The floating storage and regasification unit (FSRU) provided by Singapore-based Norwegian gas shipping company BW Gas will allow Egypt to import LNG and reconvert it to natural gas to feed into the energy-starved country's power grid. Reporting by Abdelrahman Adel

Asian liquefied natural gas (LNG) spot prices for September delivery were firm this week, supported by supply issues in Nigeria after a pipeline leak, though surplus global supplies helped ease concerns. The price of Asian spot cargoes held steady at around $8.00 per million British thermal units (mmBtu), from $7.95/mmBtu last week. Shell confirmed on Thursday that it had declared force majeure on gas supplies to Nigeria's LNG export terminal on Bonny Island in Rivers State due to a pipeline leak. "Before Nigeria happening prices were falling, so it has helped support the market," an analyst said, adding that surplus volumes globally were capping any potential upside. The analyst estimated Nigeria exports at around 7 cargoes a week.

Norway-based BW Gas will provide Egypt with a liquefied natural gas (LNG) floating import terminal under a five-year contract. This comes as as the North African country's government grapples with energy shortages. "BW has been selected by The Egyptian Natural Gas Holding Company (EGAS) to provide LNG regasification services utilizing a Floating Storage and Regasification Unit (FSRU) in Ain Sokhna, Egypt," said a statement from the company. The floating regasification and import terminal, which converts super-cooled LNG into gas, is Egypt’s second. An import terminal from Norway’s Hoegh LNG arrived in Egypt in April, allowing Egypt to begin LNG imports. The new terminal will have a capacity of 750 million cubic feet per day, the official said.

Japanese Astomos Energy Corp. has announced that it has signed a cooperation agreement with ENEOS Globe Corp. aimed at merging the two companies' gas fleets, thereby creating a new giant in the booming tanker market. The two partners will tap opportunities to best create an effective combined fleet focusing on import and export liquefied petroleum gas (LPG). A merger of the two companies would create a new giant with a fleet of 30 of the major VLGC gas carriers in the already densely packed LPG market, where the main competitors include, among others BW Gas, Dorian LPG, Avance Gas and Danish Hafnia Tankers. In addition, according to an official confirmed the bilateral cooperation including LPG import and trade cooperation, specific issues are still under negotiation.

A series of four LNG carriers being built by the Hudong-Zhongua Shipbuilding yard in China will feature Wärtsilä LNG reliquefaction plants and gas handling systems. The ships are owned by Bermuda based Teekay Corporation, China LNG Shipping (CLNG), CNOOC Energy Technology Co of China, and BW Gas of Norway. The contracts with Wärtsilä were issued by Hudong-Zhonghua Shipbuilding and were signed during the fourth quarter. The award of these contracts is a significant breakthrough into the Chinese market for Wärtsilä LNG reliquefaction plants and gas handling systems for LNG carriers…

Reported business this week has been focussed on the tanker, container and gas markets, says Clarkson Hellas in their latest S&P Weekly Bulletin. Whilst under discussion for some months, Knutsen NYK Offshore Tankers have now signed two firm plus two optional 160,000dwt Shuttle Tankers at HHI. Delivery of the firm vessels is planned from end 2016, with options into 2017. In Japan, a yet unknown European owner is understood to have contracted a single 50,000dwt MR product tanker at Onomichi, with delivery in late 2018. No pricing has been disclosed. A number of orders in gas are reported by Clarkson Hellas, starting with the largest sizes, BW Gas have confirmed an order for two firm 173,400cbm LNG carriers at DSME.

A relatively quiet week in the shipbuilding sector according to the latest report Clarkson Hellas S&P Weekly Bulletin. Henghou Industries have contracted two further vessels in a series of 250,000 dwt ore carriers at Guangzhou Longxue. Pricing remains undisclosed, however delivery of these latest vessels is planned for 2016 and takes the total series to four firm. Knightsbridge Tankers are reported to have placed an order for two firm 180,000 dwt Capesize at Daehan Shipbuilding, with delivery of both vessels planned for 2015.

With two major LNG conferences taking place this week on opposite sides of the world - the third annual LNG Global Congress in London and the World LNG Series Asia Pacific Summit in Singapore - AtoBviaC, the specialist maritime route provider, has carried out a thorough review of all LNG trades to ensure that key ports and vessel manoeuvres in this important sector remain covered. LNG vessels are some of the most expensive in the industry, consistently attracting the highest charter rates…

Nor-Shipping 2013 opens just three months from now with a cast of speakers featuring top executives from world-leading companies covering the entire value chain of themaritime industry – from shipowners and technology and service companies to regulators and financiers. Among speakers welcoming delegates to the Opening Conference on June 4 will be Norway’s Minister of Trade and Industry Trond Giske, who will provide a governmental perspective, and IMO Secretary-General Koji Sekimizu, who will share regulatory insights.HRH Crown Prince Haakon of Norway will also attend.

OceanSaver’s ballast water treatment (BWT) system has been chosen for two 162,000cbm LNG carriers being built by BW Gas. OceanSaver was selected due to its competitive pricing, low operating costs, and compatible technical system. BW Gas is one of the largest independent owners and operators of LNG carriers and the largest owner and operator of LPG carriers. These sophisticated and highly regulated vessels require competent crews and high quality operations. They also require consistent standards of maintenance which BW Gas maintains regardless of short-term changes in the freight market. With these standards in mind, BW Gas conducted a thorough evaluation of the OceanSaver ballast water system (BWT) before confirmation.

EXMAR NV today gave its trading update for the 3Q 2011, numbers which show broad improvement in shipping rates and prospects. The operating result (EBIT) of the LPG fleet in the third quarter was $2.3 million (compared to $1.8 million for the third quarter of 2010), including 72 offhire days. EXMAR’s fleet continued to be supported by its contract portfolio during the third quarter. counterparties. Spot market conditions further strengthened as the Midsize vessels’ availability has been remarkably tight over the last months. Time Charter levels edged up on this basis. During the third quarter, EXMAR took over 4 BW Gas Midsize vessels and has therefore started to handle the North Sea Contracts of Affreightment, which is an addition to the EXMAR Midsize portfolio.

Due to new regulations, the shipping community is faced with new challenges on a large scale, especially those ships that operate both inside and outside environmental zones and switching over from one fuel to another. For a long time the traditional approach to operation on heavy fuel oils (HFO) has been “pier-to-pier”. This is all going to change, said Allweiler, a world-leading provider of marine pumps to the shipping industry. When global ship operator BW Gas overhauled a low-performing fuel service pump, it discovered high wear on pump elements. BW Gas concludes that a contributing factor to the increased wear rate on the pump can be the 0.1% Sulphur marine gas oil used in EU ports, however it is also clear that other factors play a significant role.

Held on 9 September at SMM, more than 150 delegates attended this year's CIMAC Circle, covering the total cost of ownership of marine propulsion engines. Inevitably, the panel of engine builders, engine (vessel) operators and engine system and component makers were strongly influenced by the effects on engine first costs and engine running costs of the upcoming IMO Tier II and Tier III emissions regulations, due in 2011 and 2015 respectively. As Dr. Udo Schlemmer-Kelling of Caterpillar Motoren noted in the title of his lively presentation: IMO III is knocking at our door. The levels of emissions reduction prescribed by IMO Tier III for vessels operating in Emissions Control Areas clearly come at a price…

Tanker operator, BW Fleet Management, expanded its Fleet Repair Agreement with ASRY’s Bahrain yard. The new repair agreement was signed by Morten Steen Martinsen, managing director of BW Fleet Management and Chris Potter, CEO of ASRY, in April in Bahrain. The Norwegian company, which operates out of both Oslo and Singapore, manages a fleet of more than 90 vessels operated by BW Gas and BW Maritime, and the ASRY repair agreement involves those crude oil tankers, product tankers and LPG carriers that trade to the Arabian Gulf, giving guaranteed dock space and fixed rates.

·        Turnover: first semester $253.6m; third quarter $130.4m; YTD 2008 $384m; YTD 2007 $361.5m. ·        Operating cash flow (EBITDA): first semester $63.5m; third quarter $3.6m; YTD 2008 $97.1m; YTD 2007 $88.5m. ·        Operating result (EBIT): first semester $31.5m; third quarter $16.2m; YTD 2008 $47.7m; YTD 2007 $49m. ·        Average number of shares: first semester 33,726,338; third quarter 33,146,594; YTD 2008 33,531,679; YTD 2007 34,983,120. ·        Operating cash flow (EBITDA) in USD per share: first semester $1.88; third quarter $1.01; YTD 2008 $2.90; YTD 2007 $2.53. ·        Operating result (EBIT) in USD per share: first semester $0.93; third quarter $.49; YTD 2008 $1.42; YTD 2007 $1.40.

Wärtsilä Corporation and the Norwegian gas transportation company BW Gas ASA of Oslo signed a contract in January 2007 for the training of BW Gas personnel. The contract is for two years. The training courses provided under this contract are tailored to the specific requirements of BW Gas to cover the specific operational and performance aspects of the ships in the BW Gas fleet. The objective is to give ships' personnel and shore management a sound basis for cost-efficient, safe and reliable operation of the company's ships. It is intended that the training courses go beyond the usual practical training for various ship systems and equipment to transfer knowledge about engine performance and operation philosophy in order to ensure optimum operation of the ships' plants.

Yara International ASA (Yara) and Bergesen Worldwide Gas ASA (BW Gas) have entered into a Heads of Agreement under which Yara sells its LPG/ammonia fleet to BW Gas consisting of seven fully owned and three chartered-in vessels for an agreed price of $347m. Yara and BW Gas will also enter into a partnership agreement under which BW Gas will provide shipping services that Yara has defined to be non-core. The partnership will increase both parties' flexibility providing a platform for future expansion of their seaborne ammonia trading and transportation businesses.