BIMCO, GIIGNL issue Voyage Charter for LNG Trade
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party – LNGVOY - designed for the expanding LNG spot market. During the development process, BIMCO and GIIGNL consulted with the industry globally to gather a clear picture of how an LNG voyage charter party should work in practice. Careful account was taken of the interests of both owners and charterers to create a balanced and clearly worded agreement. One of the main goals of LNGVOY is to provide a charter party whereby the charterer can assess, with a greater degree of accuracy, the cost of transporting LNG from A to B and/or C.
Exmar, Mitsui OSK Team To Buy LNG Tankers
Exmar Group has set up a joint venture with Japan's Mitsui OSK Lines to buy two tankers to transport liquified natural gas (LNG). "It's basically 50/50," Exmar Director Rodney Hyne Jones, said. Exmar said in a statement that the two companies had already ordered the tankers from Okpo Yard of Daewoo Shipbuilding & Marine Engineering Co. Ltd. in South Korea and expected to get them in the first and third quarters of 2003. Hyne Jones said the venture would operate out of CMB's headquarters in the Belgian port city of Antwerp. – (Reuters)