Parker Bestobell Secures $5mln Contract

Posted by Michelle Howard November 15, 2016

Photo courtesy of Parker Bestobell

Parker Bestobell Marine, a supplier of cryogenic valves and part of Parker, a global leader in motion and control technologies, has secured a nine vessel order, worth $5m, making it the single biggest order that the company to date.

The contract is with DSME (Daewoo Shipbuilding & Marine Engineering) in South Korea to supply cryogenic globe and the vessels are part of a series of 15 liquid natural gas (LNG) carriers destined for the Yamal gas field in Russian Siberia. Parker Bestobell Marine has already secured orders for the other six vessels.

The order marks a milestone in the company’s history that has seen a tenfold increase in sales over the past five years in the marine sector and its market share has risen from less than 10 percent to over 30 percent over the same period.

The ships are designed specifically for the LNG Yamal project in Russian Siberia. The 15 Arc7 ice-class gas carriers will operate in Arctic conditions, with temperatures as low as -54°C. They will be required to independently navigate ice more than two meters thick in a region that is ice-bound for up to nine months of the year. Here, more than 200 wells will be drilled to extract LNG, which offers an annual capacity of 5.5m metric tons, in the largest and most complex project of its type. Each of the 15 icebreaker vessels has a capacity of 170,000 cubic meters and will ship LNG to the international markets.