Wärtsilä’s Cargo Handling and LPG Fuel Supply Systems for Exmar Gas Carriers
Wärtsilä will deliver its cargo handling and LPG fuel supply systems for two LPG/Midsize gas carrier vessels being built at Hyundai Mipo Dockyard in South Korea for EXMAR LPG.EXMAR LPG is a joint venture between EXMAR, a maritime and offshore solutions provider and Seapeak. According to Wärtsilä, the 46,000 m3 capacity vessels will be the largest of their kind in the world, and there is an option for two additional ships as well. Wärtsilä recently supplied a similar scope of solutions…
LR Approval in Principle for Exmar Ammonia-fueled Gas Carrier
Classification society Lloyd’s Register (LR) said it has awarded an approval in principle (AIP) to Belgium-based shipping company Exmar for its ammonia (NH3) fueled 40,000-cubic-meter-capacity midsize gas carrier (MGC). China's Jiangnan Shipyard was responsible for the ship design while Wärtsilä Gas Solutions provided all input for the ammonia fuel gas supply system.LR said the Novel Technology Evaluation included an overall examination of fundamental aspects of the design and…
Exmar Expects Two VLGCs Delivery in 2021
Belgium-based floating assets specialist Exmar said that it has two newbuild 88,000 m³ Very Large Gas Carriers (VLGC) on order at Jiangnan Shipyard (China) which will use LPG as a fuel marking a new era for the Company and the industry.Both vessels are committed to a long-term charter with Equinor after delivery in 2021, said the provider of floating solutions for the operation, transportation and transformation of gas.Currently, Exmar controls one chartered vessel in this segment, the 83,300 m³ BW TOKYO that is chartered to Trafigura until the fourth quarter of 2019. The hire is determined by a mix of fixed freight elements as well as a straight link to the Baltic Gas Index.Meanwhile…
EXMAR LPG Sells Two Older LPG Ships
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…
EXMAR Sell Two Gas Carriers In Fleet Renewal Program
EXMAR LPG (the Joint Venture between EXMAR and Teekay LNG PARTNERS) announce sale of the Very Large Gas Carrier (VLGC) FLANDERS HARMONY (85,826 m3 - 1993 built) and the Midsize Gas Carrier TEMSE (35,754 m3 - 1994 built). TEMSE is expected to be delivered to its new owners by the end of the first quarter 2014 and FLANDERS HARMONY in the course of the second quarter 2014. The capital gain realized by EXMAR for its 50% share in EXMAR LPG will be approximately USD 10.4 million. This transaction will generate for EXMAR LPG net cash proceeds of around USD 30.0-million.
India's Varun to Build LNG Carrier Fleet
India’s fourth largest private sector shipowner, Varun Shipping Co, plans to raise 536m in an effort to expand business, mostly in the carriage of liquefied natural gas. Varun Shipping will sell securities either in the domestic market or abroad to raise the money, it said in a statement to the Bombay Stock Exchange. The type of securities to be sold was not specified. The board of directors also approved raising the limit on overseas shareholding to 49%. The Indian shipping ministry has asked the country's shipowners to take the initiative to develop a fleet of LNG carriers and to consider import of the gas only on free-on-board terms.
