Daewoo Shipbuilding and Marine Engineering reportedly has won a $515.8 million order from Teekay Shipping of Canada to build three LNG (liquefied natural gas) ships, with delivery due in April 2007.
Natural gas importer Petronet LNG Ltd (PLL) plans to float a shipping subsidiary overseas to haul gas to its greenfield re-gassification terminal of 2.5 million tonnes per annum capacity proposed at Kochi in Kerala. The diversification plan has been unveiled in the tender conditions stipulated by Petronet for selecting ship owners and operators for transporting LNG to the Kochi terminal. This is a departure from the first two shipping tenders finalized by Petronet for hauling gas from RasGas
A number of factors, including instability in world oil markets at times, the return of bitter cold winters to the energy-hungry U.S. Northeast, and advances in the collection, transportation and cost-effective delivery of (primarily LNG) gas, have conspired to make this the decade of gas, and hence the decade of gas ships. According to the latest statistics from Lloyd's Register, up to 50 ships over the next 10 years will be required for delivery
Dorian LPG Ltd took delivery of five vessels under our ECO-design VLGC newbuilding program, the Continental, the Constitution, the Commodore, the Cresques and the Constellation. John Hadjipateras, Chairman, President and Chief Executive Officer, commented, "We took the delivery of five new Eco-design VLGCs this past quarter and are nearing the completion of the build-out of our fleet."
Marine design and engineering company Houlder announced the formation of an LNG project team in its London headquarters. Ian Meaden, Des Upcraft and Lijo Thomas joined the team this month to work exclusively on developing LNG projects in response to market requirements. The company said its new talent investment means it can build on its current LNG equipment projects to help with all aspects of marine design
Marlink said that its office in Dubai, United Arab Emirates, initiated the sales of 10 maritime broadband communications systems during the first half of 2006. Marlink Dubai’s most recent agreement is a three-year pact with CCC Underwater for a broadband very small aperture terminal (VSAT) system aboard the CCC Pioneer. The vessel is designed for offshore construction including pipe and cable laying and will be operating in waters throughout the Middle East and off the coast of India
According to reports, Hyundai Heavy Industries Co., plans to deliver 25 percent more vessels this year as it increases production to work through almost four years worth of orders. The company delivered 11 vessels to carry consumer goods and fuel in January, the most in a month in the industry, the Ulsan, South Korea-based company said in an e-mailed statement today. The ships were all delivered as much as two-and-a-half months earlier than scheduled, it said.
ABS, a provider of classification services to the maritime and offshore industries, has been chosen to class the world's first contracted series of very large ethane carriers (VLECs). The class contract for the ships, which will be built in Korea by Samsung Heavy Industries (SHI) for an Asian shipowner, represents another gas ship milestone for ABS. "We are delighted to have received the class contract for the world's first large ethane carriers
BP Shipping took delivery of the British Emerald, the worldâ€™s largest liquefied natural gas carrier (LNGC), the first in a series of dual-fuel diesel-electric gas ships. Built by Hyundai Heavy Industries in Ulsan, Korea, at 155,000 cubic meters,and is said to be the largest LNGC to date. The design and construction of this technologically advanced vessel is more fuel efficient than comparable LNG carriers, which will result in reduced fuel costs and greenhouse gas emissions
Malaysian International Shipping Corp. is fortifying its position in the fast growing market for the carriage of Liquefied Natural Gas (LNG), today reportedly converting an option for two liquefied natural gas ships into firm orders, bringing total oustanding orders to six. MISC is already one of the world's largest LNG tanker operators, and it also also plans to buy four 6,800-TEU, post-Panamax containerships for delivery in 2002-2003.
The LPG shipping trade will continue to grow at a healthy pace on the back of strong Asian demand, but fleet growth will outpace it, keeping rates under pressure in 2017, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.
Drewry Financial Research Services Ltd., the investment research arm of global shipping consultancy Drewry, is pleased to announce the launch of a new credit research service on the global maritime sector. Through this extension to its established maritime equity research offering
Drewry Financial Research Services Ltd., the investment research arm of global shipping consultancy Drewry, launched a new credit research service on the global maritime sector. Through this extension to its established maritime equity research offering Drewry is now able to provide
High scheduled deliveries and low demolition prospects will drive unwanted fleet growth of very large gas carriers (VLGC) in 2017 putting additional pressure on freight rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.
The following memorandum of understanding (MOU) and Agreements have been signed by India with foreign countries during the last two years for the development of ports and manufacture of ships in the country:- (i) Memorandum of Understanding between the Government of the Republic of
The world's first very large ethane carrier (VLEC), Ethane Crystal, has been delivered to India’s Reliance Industries Ltd. by South Korean shipbuilder Samsung Heavy Industries (SHI), representing a significant milestone for the gas shipping industry.
A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry. Two major factors have lowered VLGC rates in recent times: excessive fleet growth and weak
BW Group (BW) has signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilizing a new-build Floating Storage and Regasification Unit (FSRU) for the second Pakistan LNG terminal.
Japanese shipping giant Nippon Yusen Kabushiki Kaisha (NYK) has agreed to invest in EMAS Chiyoda, a subsea services joint venture between oilfield services firm Ezra Holdings Ltd and Chiyoda Corp. NYK has reached an agreement with Ezra Holdings Limited (Ezra) and Chiyoda Corporation
Oscar Spieler-led LNG shipowner Golar LNG Ltd. (GLNG) on Tuesday reported a loss of $80.1 million in its first quarter. The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 41 cents per share
LPG shipping freight rates are forecast to deteriorate further through 2016 as a result of the fast rising fleet of Very Large Gas Carriers (VLGCs) which has already started to impact earnings of smaller vessel classes, according to the latest edition of the LPG Forecaster
Trelleborg’s marine systems operation has again supported the U.S. Coast Guard by delivering a third training session in ensuring the safe, secure and clean transportation and use of liquefied gas in U.S. waters. As liquefied gases become a major commodity across the U.S
While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in
U.S. gas shipping company Excelerate Energy has laid off six staff on its global liquefied natural gas (LNG) trading desk as part of a reorganisation, a spokeswoman at the company said on Friday. Texas-based Excelerate said the commercial trading and chartering team was being downsized
As part of its growing network of global partnerships, Babcock LGE, a wholly owned Engineering, Procurement and Project Management business of Babcock International Group, has secured a contract to design; supply and project manage the installation of a cargo handling system for a 38