China Lng Shipping News

MISC Berhad (MISC), through its wholly-owned subsidiary, Portovenere and Lerici (Labuan) Pte Ltd (PLL), together with its consortium partners, Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha, Ltd. (K-Line) and China LNG Shipping (Holdings) Limited (CLNG), have been awarded long-term time charter contracts by QatarEnergy for five additional newbuild Liquefied Natural Gas (LNG) carriers to be built by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.Together with the seven long-term time-charter contracts that were secured earlier in August…

NYK said that the joint-venture companies (Comprising NYK, “K” Line, MISC Berhad, and China LNG Shipping (Holdings) Limited) that NYK is a part of have signed a long-term time-charter contract with QatarEnergy, the state energy company of Qatar, for seven liquefied natural gas (LNG) carriers. The joint-venture companies have also executed shipbuilding contracts for the seven 174,000 m3 LNG carriers with Hyundai Heavy Industries Co., Ltd.These ships will be equipped with an X-DF 2.1 iCER and air lubrication system, both of which will contribute to a reduction of GHG emissions and an improved environmental impact.LNG Carrier Main ParticularsLength, oa: approx.

Russian liquefied natural gas (LNG) producer Yamal LNG  announced the operational start of the new Arc7 ice-class LNG tanker “Yakov Gakkel”,  the fifteenth and final Arc7 ice-class tanker built specifically for the Project.The Yakov Gakkel has loaded the 354th LNG cargo in the port of Sabetta bound to China, said a press note.The vessel was built by Daewoo Shipbuilding and Marine Engineering (DSME) and is owned and operated by a 50-50 joint venture by Teekay LNG and China LNG Shipping. It is one of six vessel owned and operated by the Teekay-China LNG joint venture.The Project’s Arc7 ice-class fleet is capable of shipping all of the…

Teekay LNG Partners, the liquefied natural gas (LNG) carrier owner and operator, has taken delivery of its newest Arc7 icebreaking LNG carrier.According to company sources, Teekay together with its joint venture partner China LNG Shipping took delivery of the fifth 50 percent-owned Arc7 LNG carrier newbuilding Georgiy Ushakov, which immediately commenced its 26-year charter contracts servicing the Yamal LNG project.The newbuild is currently on her way to Sabetta for her first loading and will soon embark on her golden voyage.Three months ago, the Partnership took delivery of the fourth Arc7 LNG carrier newbuilding namely Vladimir Voronin…

Teekay LNG's liquefied natural gas (LNG) tanker venture, the Yamal LNG Joint Venture, is no longer subject to U.S. sanctions after a change of ownership at its partner China LNG Shipping (Holdings) Ltd, Teekay companies said late on Tuesday.Teekay LNG and China LNG Shipping each own half of Yamal LNG Joint Venture.

Teekay LNG’s 50/50 joint venture with China LNG, which owns four on-the-water ARC7 LNG carriers and two ARC7 LNG carrier newbuildings, is also no longer classified as a “blocked person” under Office of Foreign Assets Control (OFAC) rules.According to a press release from the owners and operators of LNG carriers, providing LNG and LPG marine transportation services firm, Teekay Corporation and Teekay LNG Partners announced that COSCO Shipping Energy Transportation, a COSCO group firm, has completed an ownership restructuring on arms-length terms which has resulted in Teekay LNG’s joint venture partner, China LNG Shipping Holdings.The  JV had been then designated as a "blocked person" under U.S.

China National Offshore Oil and Gas Company (CNOOC) is on the hunt for liquefied natural gas (LNG) tankers to charter, several industry sources told Reuters, looking to replace ships it had previously hired that are linked to a Chinese company sanctioned by the United States for allegedly transporting Iranian oil.The company, COSCO Shipping Tanker (Dalian), is one of four Chinese firms on which the Trump administration imposed sanctions on Sept. 25, in what it described as the biggest sanctions taken by the U.S.

Russia's liquefied natural gas (LNG) producer Novatek is in talks to tranship its Yamal cargoes in Norway or Russia's Murmansk because it is unsure of the impact of U.S. sanctions on the Chinese COSCO tankers it uses, a Novatek official said.The United States imposed sanctions on Sept. 25 on state-owned COSCO's subsidiaries, COSCO Shipping Tanker (Dalian) Co and COSCO Shipping Tanker (Dalian) Seaman & Ship Management, for allegedly ferrying Iranian crude.U.S.-listed ship owner Teekay LNG said last week its shipping joint venture in Russia, Yamal LNG, had been "blocked" by the U.S.

Bermuda-headquartered Teekay has taken delivery of Vladimir Voronin, the fourth in a series of six Arc 7 icebreaking liquefied natural gas (LNG) carriers intended for Yamal LNG project."Named after the famous Soviet sea captain, we have recently taken final delivery of Vladimir Voronin HN 2431, the fourth in the series of our six Arc 7 ice breaking LNG newbuilds," said a press statement from Teekay, which has developed from a regional shipping company into one of the world's largest marine energy transportation, storage & production companies.With a capacity of 172,410 cbm, the Bahamas-flagged ship features a length of 299 meters and a width of 50.1 meters…

Chinese shipping major Sinotrans has signed with Greek shipowner Dynagas and China LNG Shipping (CLNG) for the joint purchase of five Arctic-class LNG carriers from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME). The agreement is structured as five separate joint ventures between the parties; each venture includes membership in the shipbuilding contract and in a 25-year time charter of the vessel to Yamal LNG. The time charter is for about $20 million per month per vessel. Upon the JV completion, the company indirectly owns 25.5% in the deal, whereas CLNG holds 25.5 percent stake and  Dynagas the remaining 49 percent. Total construction cost for the five vessels is estimated at $1.6 billion.

China Merchants Energy Shipping, Sinotrans Shipping and Greek shipping firm Dynagas are in talks to form a joint venture to build five vessels to ship liquefied natural gas (LNG) from the Arctic, the firms said. China Merchants said in a stock exchange statement on Tuesday that its board had approved a proposal allowing subsidiary China LNG Shipping to take a 25.5 percent stake in the joint venture, which will pay $1.59 billion for the ships. Sinotrans, a unit of state-owned Sinotrans & CSC Holdings on Monday said it would take a 25.5 percent share of the joint venture without revealing who its partners were. Dynagas, a private Athens-based LNG shipping firm, will take a 49 percent stake, China Merchants' statement said.

Sinotrans Shipping, one of China’s largest shipping companies, is in negotiations to take part in a joint venture to commission the building of five Arctic LNG carriers, says the company's stock market announcement. Sinotrans Shipping said it expects to take 25.5 percent of the shares in the joint venture without revealing any further information. Meanwhile, a report in Reuters said that China Merchants Energy Shipping, Sinotrans Shipping and Greek shipping firm Dynagas are in talks to form a joint venture to build five vessels to ship liquefied natural gas (LNG) from the Arctic. According to the plan, the five vessels will be jointly invested by Dynagas (49%), CLNG (25.5%) and Sinotrans Shipping (25.5%). Total price of the vessels is about $158.7m.

ABB announced that it will deliver advanced electrical propulsion systems for four LNG carriers under construction by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. The LNG vessels are a joint venture between China National Offshore Oil Corporation (CNOOC), China LNG Shipping (Holdings) Limited (CLNG) and Teekay, and will operate under 20-year time-charter contracts with Methane Services Limited, a wholly-owned subsidiary of BG. LNG carriers are highly sophisticated in terms of technology and are specially designed to transport LNG at a low temperature of minus 162 degrees Celsius. They are regarded as the “super freezer cars of the sea” and “the pearl on the crown” in the world shipbuilding industry.

A series of four LNG carriers being built by the Hudong-Zhongua Shipbuilding yard in China will feature Wärtsilä LNG reliquefaction plants and gas handling systems. The ships are owned by Bermuda based Teekay Corporation, China LNG Shipping (CLNG), CNOOC Energy Technology Co of China, and BW Gas of Norway. The contracts with Wärtsilä were issued by Hudong-Zhonghua Shipbuilding and were signed during the fourth quarter. The award of these contracts is a significant breakthrough into the Chinese market for Wärtsilä LNG reliquefaction plants and gas handling systems for LNG carriers…

The Daewoo Shipbuilding and Marine Engineering (DSME) yard in South Korea has ordered a total of 54 Wärtsilä dual fuel engines to power 172,600 cbm icebreaking LNG carriers being built for use in arctic conditions to serve the Yamal LNG project in Northern Russia. The ships will be owned by one joint venture between Teekay LNG Partners of Canada and China LNG Shipping (CLNG), and another joint venture between China Shipping LNG Investment Co.,Ltd. (CSLNG) and Japan based Mitsui O.S.K.

Teekay LNG Partners L.P. has announced  that it has agreed to sell 2,800,000 common units, which represent limited partner interests, in a public offering. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 420,000 common units. The Partnership expects to use the proceeds to fund the equity portion of its first installment payment of approximately $95 million for six newbuilding liquefied natural gas (LNG) carriers ordered by the Partnership's 50/50 joint venture with China LNG Shipping (Holdings) Limited for the Yamal LNG Project and to fund a portion of five M-type, Electronically Controlled, Gas Injection (or MEGI) newbuildings.

A relatively steady week in the newbuilding market in terms of volume of ordering remarks Clarkson Hellas in their latest S&P Weekly Bulletin, most for LNG carriers. In Dry, Sungdong Shipbuilding have signed contracts with Teh-Hu (Hong Kong) for one firm plus one option 180,000 dwt Capesize, with delivery in the third and fourth quarters of 2016. Clients of Victoria Steamship are understood by Clarkson Hellas to to have ordered three firm plus three option 64,000 dwt Ultramax at Nantong Hongqiang. This follows their previous order for the same quantity of Ultramax at Jiangsu Haitong last month, with these latest orders for delivery from late 2015 onwards. Just one order in tankers, with clients of Polembros Shipping contracting two firm plus two option 159,000 dwt Suezmax at HHI.

Teekay LNG Partners L.P. announced that it has acquired from BG Group ownership interests in four 174,000 cubic meter Tri-Fuel Diesel Electric (TFDE) liquefied natural gas (LNG) carrier newbuildings, which will be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China. The vessels, which are scheduled to deliver between September 2017 and January 2019, will each operate under 20-year time-charter contracts, plus extension options, with Methane Services Limited, a wholly-owned subsidiary of BG.

Exxon Mobil Corporation (ExxonMobil) and Mitsui O.S.K. Lines, Ltd. (MOL) announced that they have selected Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong), a subsidiary of China State Shipbuilding Corporation, to build four LNG carriers in China. These carriers will provide LNG transportation from the Papua New Guinea (PNG) and Gorgon Jansz LNG projects and will be jointly owned by MOL and China Shipping (Group) Company (CS). A ceremony was held in Beijing to celebrate the execution of a Project Development Agreement and a Heads of Agreement for Shipbuilding Contracts in the presence of Mr. Zhang Guobao, vice chairman, National Development and Reform Commission…

Long-term service agreement improves lifecycle cost control and fleet reliability. ABB signed a long-term Preventive Service agreement with China LNG Shipping International Co. Ltd (CLSICO) to provide maintenance services to all ABB equipment onboard of its six LNG vessels in the next five years. The contract commenced January 1, 2013. The new service agreement will help CLSICO with optimized vessels performance at a predicted minimum level of budget. ABB will provide annual site survey and on-call services to the six vessels covered by the agreement…

The Export-Import Bank of China, a wholly state-owned bank has informed official news agency Xinhua that it is to lend US$400-million U.S. dollars to four separate shipowning companies.for building 4 liquified natural gas (LNG) carriers in a Shanghai shipyard. Citing information from the bank, Xinhua reports that the four carriers, each with a shipment capacity of 174,000 cubic meters are for: CNOOC Energy Technology and Services, China LNG Shipping Limited, Teekay LNG Partners and BW's LNG investment arm. Shanghai-based Hudong-Zhonghua Shipbuilding Co., Ltd., a core enterprise under the China State Shipbuilding Corporation, will build the carriers.

April 3 marked another milestone in the rapid development of Chinese shipbuilding capacity as, at separate ceremonies, two of the nation’s shipbuilders delivered the first LNG carrier to be built in and the largest containership to emerge from a Chinese shipyard. Both of these historic first shipbuilding projects were completed to ABS class standards. Shanghai-based Hudong-Zhonghua Shipyard delivered the 147,000 m3 LNG carrier Dapeng Sun to China LNG Shipping (International) Ltd for service between ’s North West Shelf and ’s first LNG receiving terminal in . It is the first of a five ship series that are being dual classed by ABS and China Classification Society (CCS). Keel laying for the first ship took place in June 2005.

At the 150th Annual Meeting of the Members of ABS, three industry leaders were elected to the ABS Council. Following the Annual Meeting, the ABS Council met and elected industry leaders to both its Marine and Offshore Technical Committees. Individuals serving on the ABS Council and the Technical Committees help guide the class society in fulfilling its mission of promoting the security of life, property and the natural environment. “Classification represents the concept of self-regulation for the marine and offshore industry,” said ABS President and CEO Christopher J. Wiernicki.