Gas Carriers News

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…

BW LPG Limited (BW LPG) announced that it has withdrawn its proposal to combine with Dorian LPG Ltd. (Dorian). BW LPG will also withdraw the candidates it previously intended to nominate to stand for election to the Dorian board at Dorian’s 2018 Annual Meeting of Shareholders.BW LPG also announced that the following letter has been sent on October 8, 2018 to the Chairman, President and Chief Executive Officer of Dorian:Mr. John HadjipaterasChairman, President and Chief Executive OfficerDorian LPG Ltd.c/o Dorian LPG (USA) LLC27 Signal RoadStamford…

ABS has granted Approval in Principle (AIP) for the LNG Jumbo, a new 175,000 CBM liquefied natural gas (LNG) carrier design from Chinese shipbuilder Jiangnan Shipyard (Group) Co.The efficient, environmentally friendly design features the GTT MK III Flex Cargo Containment System developed in cooperation with ship designer MARIC.The LNG Jumbo design specifies a WINGD X-DF low-pressure, low-speed two-stroke dual-fuel main engine propulsion system promising enhanced propulsion efficiency and reduced fuel consumption, combined with additional energy saving devices.

GTT has signed a Technical Assistance and License Agreement (TALA) with South Korean shipbuilder Hyundai Mipo Dockyard (HMD) targeting the outfitting of gas carriers, in particular small and middle scale (up to 50,000 m3) and liquefied natural gas (LNG) fuel tanks for merchant ships.Hyundai Mipo obtained its license after completing a qualification process that began in April 2018, including the construction of a Mark III Flex mockup and an audit lead by GTT.The shipyard is now the third among the Hyundai group to be licensed by GTT. The two other construction sites, Hyundai Heavy Industries and Hyundai Samho Heavy Industries, have been…

Wärtsilä will provide an integrated cargo handling and fuel gas system for two new liquefied petroleum gas (LPG) carriers for Belgium-based owner Exmar. The 80,000m³ very large gas carriers are being built at HHIC-Philippines (Hanjin Heavy Industries & Construction Philippines) in Subic Bay, and will be the first vessels capable of running on LPG, according to Wärtsilä, who secured the order in July 2018.Wärtsilä, which offers ‘LPG as fuel’ as a fully integrated part of the cargo handling system…

GTT said it received an order from the Korean shipyard Hyundai Heavy Industries (HHI) concerning the tank design of four new liquefied natural gas (LNG) carriers which will be built on behalf of the Greek ship-owner Capital Gas Carriers.GTT's Mark III Flex technology has been selected to equip the LNG tanks of these four 174,000 m3 ships. The delivery of these vessels is scheduled between the end of 2020 and mid-2021.

MAN Energy Solutions has announced the first retrofit orders for its new MAN B&W ME-LGIP LGP-powered engine.The contract with Oslo-listed BW LPG involves the world’s first retrofitting of four MAN B&W 6G60ME-C9.2 HFO-burning engines to 6G60ME-C9.5-LGIP LPG-propelled dual-fuel engines, plus options for further retrofits in the future. BW LPG expects the first retrofitting to take place in conjunction with scheduled drydockings, starting 2020.The deal was signed in advance of the official launch of the MAN B&W ME-LGIP engine in Copenhagen on Monday…

A consortium of maritime industry stakeholders has set out to develop a higher performing and more environmentally efficient container vessel. The group, which is led by Dubai based Zaitoun Green Shipping Ltd (ZGS), also aims at creating a new business model for the container sector.The seven companies making up the consortium are each established experts in their own fields. The parties have agreed to establish a team where each member company has an important role to play in…

BWMS, Scrubber Install Outlook is GoodOperating since 2011, Qatar’s Nakilat-Keppel Offshore & Marine Ltd (N-KOM) offers a range of repair, conversion, maintenance and fabrication services to marine, offshore and onshore industry. The shipyard has delivered in excess of 800 marine and offshore projects to date, of which 20% is made up of LNG carrier repairs. In comparison to the first half of 2017, the year 2018 has a marked increase in volume about 25% in terms of repairs and other works.

Greece-based DryShips announced that it has entered into an agreement with an unaffiliated buyer for the sale of one of its 2001-built Panamax drybulk carrier.The vessel is scheduled for delivery to its buyer no later than the end of this month.The diversified owner and operator of ocean going cargo vessels expects to realize a gain on vessels sales compared to the book value of this asset.DryShips operates worldwide. As of August 15, 2018, and not giving effect to any pending vessel transactions…

The world's second largest ship registry said it is looking to advance its position as the largest registry of gas carriers and expand its footprint in the transportation and processing of liquefied gases with the formation of a dedicated gas experts team.The Republic of the Marshall Islands (RMI) Registry said its new Worldwide Gas Team is comprised of experts in the design, technical management, inspection and commercial operation of gas carriers. The group is able to provide guidance from inspection and registration to technical issues and regulatory challenges…

Forth Ports, the UK’s third largest port group, has officially welcomed two new multimillion pound vessels to join their fleet of tugs and pilot boats working on the River Forth.The GBP 6 million investment in the two vessels to work on Scotland’s largest waterway sees the arrival of a powerful Sanmar tug and a state-of-the-art pilot boat from Holyhead Marine.The tug was built by leading ship builder Sanmar, is 28 metres long with two engines producing 2,700 brake horsepower and a bollard pull of 70 tonnes. It also has fire-fighting capabilities.