Gail Scraps $7-billion LNG Ship Tender
Gail India Ltd has scrapped a tender that would have led to the construction of three massive liquefied natural gas (LNG) carriers at Indian shipyards. After postponing tender deadline thrice and also one year later, state-owned gas utility GAIL India Ltd has not found any bidder for its USD 7 billion tender to hire newly-built LNG ships to ferry gas from the US. GAIL's tender to hire nine newly-built liquefied natural gas (LNG) tankers drew a blank due to the government's condition of building a third of the ships in India, officials said. "There was no response from ship owners and GAIL decided not to extend the tender beyond 17 February. The tender has lapsed," a company spokesperson said.
India's GAIL Postpones LNG Tender; No Takers
The state-owned gas utility GAIL (India) has postponed the tender date for its $7.6 billion newly built LNG ships for the third time as it did find any takers. The company first postponed the last date of bidding from October 30 to December 4 and then to January 6. Today it put it off till February 17, according to a notice issued by GAIL. This is because the PSU firm is not able to get responses from international shipbuilders, given the condition that they should lend their technology to Indian firms. There is a mandatory provision in the tender that one ship in each lot has to be built in partnership with Indian shipyards. This is a part of the ‘Make in India’ effort.
NNPC, Daewoo in Joint Venture
After over five decades of its involvement in crude oil and gas exploration without involving in crude oil transportation, the Nigerian National Petroleum Corporation (NNPC), has signed a joint venture agreement with Daewoo Ship-building and Marine Engineering (DSME) of South Korea, to establish a world class shipping company which will be involved in crude oil transportation. Already, $10 million has been released as the initial capital for the joint venture business, which would be called Nigera-Daewoo Shipping Ltd (NIDAS). The NNPC will aquire a controlling equity interest of 51 per cent, while DSME will have 49 per cent . A release signed by Dr Levi Ajuonuma…
SCI Signs for Two VLCCs
The Shipping Corporation of India Ltd (SCI), today signed contracts with Daewoo Ship Building and Marine Engineering CoLtd of South Korea for building and delivering two Very Large Crude Carriers (VLCCS). The tankers, to be built at DSME's shipbuilding yard in South Korea, would have a deadweight of about 300,000 tonnes at the design draft of 21.5 metres. The tankers would be built as per the latest and most stringent International Regulations and would be classed with the ABS and IRS Classification Societies.
