Teekay LNG Partners Orders Two LNG Newbuilds

Thursday, December 13, 2012

Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) entered into an agreement with Daewoo Shipbuilding & Marine Engineering CO., LTD., (DSME) of South Korea for the construction of two 173,400 cu. m. Liquefied Natural Gas (LNG) carrier newbuildings, with options to order up to three additional vessels. The Partnership intends to secure long-term contract employment for both vessels prior to their delivery in the first half of 2016. The newbuildings will be constructed with M-type, Electronically Controlled, Gas Injection (MEGI) twin engines, which are expected to be significantly more fuel-efficient and have lower emission levels than other engines currently being utilized in LNG shipping. "The delivery of these vessels is timed to coincide with the next wave of increased demand for LNG carriers which is expected when a large number of new LNG export projects come on-stream commencing from late-2015. They are also among the largest LNG carriers that will be able to transit the Panama Canal after its expansion project is complete, which makes them ideal for U.S. LNG exports. The recent U.S. Department of Energy study supported the export of LNG from the U.S.," commented Peter Evensen, Chief Executive Officer of Teekay GP LLC. "In addition, we are confident these newbuildings will be especially attractive to our customers given their fuel-efficient engines as well as being built to a high specification at DSME." Mr. Evensen continued, "With scheduled delivery in 2016, we believe that we are well-positioned to charter these LNG newbuildings on fixed-rate charter contracts prior to their delivery, thereby providing Teekay LNG with visible built-in growth."

 

 


Technology

NOAA Engineers a Better Current Sensor for Mariners

Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents.

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

Alfa Laval Launches DuroShell LPG/E Cargo Condenser

With the new Alfa Laval DuroShell plate-and-shell heat exchanger, Alfa Laval aims to strengthen its offering in LPG/E cargo reliquefaction with a construction that

Contracts

Matson Orders Two ConRo Ships from NASSCO

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two

Weak Freight Rates push Grindrod to H1 loss

Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Shipbuilding

Matson Orders Two ConRo Ships from NASSCO

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two

MN100: Conrad Shipyard

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries,

Heavy Lifting: Giant Pipe Racks Shipped for New FPSO

From Brazil to China and then back to Brazil, five pipe racks and three modules weighing a total of 1,871.51 metric tons and measuring 24,075 m³ will be transported

Ship Sales

COSCO Delivers PSV and Two Jack-up Rigs

Cosco (Dalian) Shipyard Co., Ltd., a subsidiary of its 51 percent owned Cosco Shipyard Group Co., Ltd., has delivered two jackups to the Foresight Group of companies

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

SCI to Buy Vessels for $134m

India's largest shipping company  Shipping Corporation of India (SCI) has earmarked Rs 900 crore ($134m ) capex for the current financial year even as business

Marine Power

MN100: R.W. Fernstrum & Company

The Company: R.W. Fernstrum & Company set the standard in marine heat exchangers over 65 years ago, building a reputation focused on innovation. Today, its commitment is to continual improvement,

US Navy Ships Conduct Astern Replenishment-at-sea

“While replenishments-at-sea are routine, astern refueling is unique and requires precise navigation and coordination,” said Lt. Cmdr. Jason Ileto, fleet replenishment scheduler for Commander,

Better Turbocharger Performance, Proven Tech

Engineer wisdom: Nothing is worse as the right idea at the wrong time. But with the new ECOCHARGE Two-Stage Turbocharging System MAN D&T has reached both goals.

LNG

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

Wärtsilä Re-gasification system for Norwegian Ship Conversion

Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel.

Höegh LNG Speeds up FSRU Conversion

Höegh LNG Holdings Ltd. today announced that it has signed agreements with Wärtsila Oil and Gas (EPCIC regas) and Moss Maritime (engineering) for its first FSRU conversion project,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1002 sec (10 req/sec)