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EXMAR Commits to LPG with New Charters

Maritime Activity Reports, Inc.

February 6, 2014

Photo: EXMAR

Photo: EXMAR

EXMAR LPG has been awarded Statoil ASA’s time charter requirement for two environment-friendly 38,000 m³ (Midsize) LPG newbuildings intended for LPG trading within North West Europe. Both performing vessels are part of EXMAR LPG’s existing orderbook and are being built at Hanjin Subic Bay. The duration of each Time-Charter is for a period of minimum five years up to maximum 10 years basis delivery within 2016.

EXMAR LPG has further extended with Potash Corporation of Saskatchewan the time charters of Libramont (38,455 m³ - built 2006) and Sombeke (38,447 m³ - built 2006) for a period of 10 years each. The vessels will be utilized for the transportation of anhydrous ammonia.

These long-term commitments with confirm EXMAR’s dedication to the midsize segment and are a recognition of the highest standard of its operations, the company said.

Additionally, EXMAR NV and Pacific Rubiales Energy Corp., through its fully own affiliate Pacific Midstream Holding Corp, announce the ordering of a barge-based floating LNG regasification unit under a 50/50 joint venture. The unit will be constructed by Wison Offshore & Marine at its shipyard in Nantong, China. Delivery of the unit is anticipated in the fourth quarter of 2015. Negotiations for a long term charter are ongoing and an award is expected by mid-2014.

Nicolas Saverys, CEO of EXMAR stated, “We are honored to place this order together with our partner PRE, with whom we have already developed the floating LNG liquefaction and storage unit Caribbean FLNG that is currently under construction. We strongly believe this innovative and flexible barge-based regasification concept will further increase the competitiveness of LNG compared to other energy types. By adding a floating storage unit we can customize the storage size and overall availability to specific project requirements."

Ronald Pantin, CEO of PRE commented, “With this order for a next generation floating regasification solution, PRE and EXMAR are well positioned to serve the LNG global markets."

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