Gas Carriers News

Bermuda registered Avenir LNG Limited has signed contracts with Nantong CIMC Sinopacific Offshore & Engineering (SOE) for the construction of two 7,500 cbm LNG carriers, at its Nantong, China shipyard, with options to build two more.Delivery of the two LNGC new buildings is scheduled for May and August 2021. The ships are designed to include ice class 1B, full bunker functionality, double hull and dual fuel electric twin azimuth propulsion. The order for the 7,500 cbm LNG ships…

The global provider of classification and technical advisory services to the marine and offshore industries ABS has granted Approval in Principle (AIP) to two new gas carrier designs from Hudong-Zhonghua Shipbuilding.The two new vessel designs are for a 200,000cbm LNG Carrier and a 147,000cbm Very Large Ethane Carrier (VLEC).“ABS is proud to support the pioneering work of Hudong Zhonghua in the design and delivery of gas carriers. By awarding these AIPS, ABS is demonstrating its commitment to promoting innovative concepts which meet market needs and drive safer and more sustainable shipping…

Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot (SCF Group) has just celebrated the tenth anniversary of the start of LNG shipments from the Sakhalin-2 project.In March 2009, SCF’s LNG carrier Grand Aniva loaded the first shipment of Russian LNG produced at the Sakhalin-2 plant. As LNG production at Sakhalin-2 commenced, Russia became a full-fledged member of the club of LNG exporting nations, which at that point included just 15 countries.For a decade two of Sovcomflot’s LNG carriers…

DNV GL presented ShipInox with an Approval in Principle (AiP) for its new small-scale LNG carrier/bunker vessel design, reportedly the first ever class-approved design based on an offshore supply vessel (OSV). With a length of 92 meters the ship will have a carrying capacity of 6,000 cubic meters.“The enthusiastic support we have received throughout the challenging development of this design makes us feel very humble,” says Rune Østbøe, CEO of ShipInox. “Not only DNV GL and the Norwegian Maritime Authority (NMA)…

Netherlands-based operator of gas tankers in the segments of gas shipping Anthony Veder has taken delivery of two 10,000-cbm combined gas carriers, which can transport liquefied natural gas (LNG) and petrochemical gases including ethylene (LEG).With this transaction Anthony Veder expands its fleet to 33 vessels and reinforces its leading position in small scale LNG. With eight small scale LNG vessels the company continues their strategy to support  the potential for LNG as a marine fuel and in the distribution of LNG for power supply.

Concept Development of Large Cryogenic Liquid Transport of High Value GasesHerbert Engineering was selected by Agility Gas Technology of Park Ridge NJ to develop a ship design concept that will capitalize on Agility’s novel, less expensive yet safer technology to build large atmospheric-pressure cryogenic-liquid chemical transport ships. Specific designs are under development for very large volume liquid ethylene, ethane and propylene transport.According to Charles Matar, CEO of Agility…

Qatar-based Shipyard, Nakilat-Keppel Offshore & Marine (N-KOM) has recently received its first floating storage regasification unit (FSRU) project at the Erhama Bin Jaber Al Jalahma Shipyard.The FSRU owned by Excelerate Energy (USA) will undergo drydocking, maintenance and upgrades at the facility, which is renowned for its expertise in handling gas carriers.During its drydocking, the FSRU will undergo several modifications and retrofitting of new systems, including the installation of a ballast water treatment system (BWTS).

The world’s biggest operator of liquid petroleum gas ships BW Group has purchased majority stake of Epic Gas and is looking to buy the remaining shares completing the takeover.BW, based in Norway and Singapore, is making the move after acquiring a 54.7% stake from existing owners, said a press release.With the acquisition of the majority stake BW has launched an unconditional tender for all the remaining shares in Epic Gas at a price of $1.60 per share, plus an additional $3.5m divided across all the shares acquired in the offer…

Greek shipping company Tsakos Energy Navigation (TEN) announced new charters for two LNG carriers, the Neo Energy and the Maria Energy to significant international energy concerns for an aggregate period of 36 months. The total gross revenues from these two fixtures, over the duration of the respective contacts, is expected at about $60 million, said the provider of seaborne crude oil and petroleum product transportation services worldwide.“LNG is on top of the agenda for TEN’s diversified energy fleet.

Over 202 billion rubles ($3.09 billion) will be allocated for the construction of the Zvezda shipbuilding complex in Russia's Far Eastern Primorsky Region, of which 66 billion rubles have already been given.According to Sputnik, the Zvezda shipyard, once completed, will comprise production facilities and workshops for that will be used to build marine equipment, including gas carriers, tankers and nuclear icebreakers.The report quoted Russian Deputy Prime Minister Yury Borisov…

Singapore-based owner of gas carriers BW LPG has established a product services division in an effort to support its core shipping business.The  Product Services division is part of BW LPG’s ambition to propose a low-risk and fully-integrated product delivery service to customers.The owner and operator of LPG vessels will purchase LPG and offer it delivered on the basis of cost, insurance and freight, directly to the end user.Through this new division, BW LPG aims to maximise utilisation of its vessels by providing full LPG delivery service…

The biggest market change in the fourth calendar quarter of 2018, was the decline in crude oil prices, with Brent falling from a monthly average of nearly $82/barrel in October, finishing the year below $51 per barrel. As a result, global  liquefied petroleum gas (LPG)prices followed the downward trend.Dorian LPG, the Stamford-based owner and operator of 22 very-large gas carriers, said that without the additional LPG cargoes out of Marcus Hook from Mariner East 2, which started operations in January 2019, U.S.

Delaware-based NGL Energy Partners and Colorado's DCP Midstream have executed a purchase and sale agreement under which DCP will convey to NGL its wholesale propane business, generally consisting of seven natural gas liquids terminals in the Eastern United States.Under the terms of the agreement, NGL will acquire 100% ownership of five propane rail terminals operated by Gas Supply Resources, a subsidiary of DCP, and 50% ownership interest in a sixth propane rail terminal.The agreement also includes an import/export terminal located in Chesapeake…

ABS Launches New Guide for Liquefied Gas Tank Barges with Remote Control and Monitoring of Essential Systems; outlines requirements for design and construction of unmanned barges equipped with various degrees of automation. ABS released guidance to assist shipyards and barge operators:  The Guide for Building and Classing Liquefied Gas Tank Barges with Remote Control and Monitoring of Essential Systems.The Guide provides requirements for the design and construction of barges equipped with various degrees of automation…

Further shipowners turning to LGP in advance of 2020 emissions deadlineJiangnan Shipyard, owned by China State Shipbuilding Corp (CSSC), has ordered an LPG-burning MAN B&W 6G60ME-LGIP engine in connection with the building of an 86,000-m3 VLGC (Very Large Gas Carrier) for Tianjin Southwest Maritime (TSM), the Chinese shipping company. Vessel delivery is scheduled for the second half of 2021 and includes an option for a second vessel.Bjarne Foldager – Senior Vice President, Head of Two-Stroke Business at MAN Energy Solutions – said: “With 2020 and the new IMO emissions fast approaching…

Satellite communications specialist Marlink has been awarded a contract renewal to expand its Sealink VSAT service to international ship owner Transpetrol.The provider of satellite communications services for the maritime industry claimed that the higher levels of guaranteed bandwidth ensure global connectivity for 14 strong tanker fleet.The renewal secures access to Marlink’s global network and specially-chosen business critical VSAT solutions for the entire tanker fleet and…

Container ships have dominated the buying opportunities over the past several quarters, and many have taken advantage of this trend to make carefully informed purchases in this space, said VesselsValue.10 year old Panamax container vessels represent the strongest buying opportunity in the current outlook.Even though recycling activity has slowed, the global container market balance has tightened in 2018. Furthermore, declining speed has been an important factor this year and slower…

Overall, the outlook for shipping asset prices remains bright, but several areas are more attractive than others.The VesselsValue forecast takes many factors into consideration when assessing each vessel class and age. Today we’ll look at some of the most appealing segments and the fundamental reasons why ships of this size are more likely to appreciate. Subscribers have access to a far more granular look at all ship types and ages, allowing for accurate risk assessment of any…

ABS signed a Memorandum of Understanding (MOU) with the Korea Marine Equipment Research Institute (KOMERI) to create a new facility dedicated to improving the safety of LNG as fuel.ABS and KOMERI will collaborate on research at the shoreside facility, which will allow shipowners to safely test fuel gas and bunkering systems, under actual loading conditions, prior to installation onboard.“ABS is proud to partner with KOMERI on this important facility, which will help ensure safe and effective testing of new equipment and ultimately advance adoption of LNG…

France's Gaztransport & Technigaz (GTT) announced that it has received a new order from a Korean shipyard, Samsung Heavy Industries (SHI), for the design of the tanks of a new LNG tanker with a capacity of 174,000 m3 , on behalf of the Greek shipowner Minerva.The specialist in cryogenic containment systems said in a press release that the tanks of this unit, used for the LNG transportation, will be fitted with the Mark III Flex+ membrane containment system developed by GTT, offering a guaranteed boil-off rate of 0.07% of tank volume/day.

Kuwait Oil Tanker Co. (KOTC), a subsidiary of Kuwait Petroleum Corporation, has ordered three giant liquefied petroleum gas tankers (LPG) from Hyundai Heavy Industries (HHI), the South Korean shipbuilding giant.According to the government's media outlet Kuwait New Agency (KUNA), the order for very large gas carrier (VLGC) is worth KD 64.8 million (around USD 213.3 million).KUNA quoted CEO of KOTC Sheikh Talal Al-Khaled Al-Sabah as saying that the VLGC-LPG gas tankers are part of a tanker-building contract signed with HHI…

The Middle East is the most active export market of LPG exports on very large gas carriers(VLGC), said Norway-based LPG shipping firm Avance Gas.Oslo-listed Avance Gas said in a statement that traditionally Saudi Arabia was the largest exporter, but though growing LNG production from mid-2000 combined with increased petrochemical use of LPG in Saudi Arabia, resulted in Qatar and UAE becoming the largest exporters.Today Qatar and UAE each export about 10 million tons annually, Saudi Arabia 8-9 million tons and Kuwait 4-5 million tons.

The sulfur emission control areas (SECAs) in place in North-America and Northern Europe, in combination with the upcoming global 0.5% limit on sulfur in 2020 (or 2025) and similar EU limits in 2020, call for alternative fuels as a means for compliance. Several alternative fuels are available and, at the same time, new fuel oil products with very low sulfur content have been introduced.In this respect, the ability of the new MAN ME-LGIP engine to run on LPG, which is a sulfur-free fuel…