Golar Freeze News

Norwegian shipping company Golar LNG Partners is deploying a floating storage and regasification unit (FSRU) to Jamaica for up to 15 years from the fourth quarter of 2018."FSRU Golar Freeze will shortly arrive offshore Jamaica where she will service a 15-year charter for an energy and logistics company," the partner company of Golar LNG Limited said in a stock market annoucement.From commencement of commercial operations, expected during January, 2019, hire will be receivable at the full daily base rate, initially expected to deliver approximately $18 million in annual Adjusted EBITDA, it said.Meanwhile, Golar Maria's 10-month charter commenced in early August. Spot voyages prior to this resulted in the vessel achieving a utilization rate of 89% for the quarter.

Norwegian shipping company Golar LNG Partners will deploy a floating storage and regasification unit (FSRU) to Jamaica for up to 15 years from the fourth quarter of 2018, according to industry sources. An FSRU allows for the import of liquefied natural gas. On Jan. 19 the company said in a statement it executed a 15-year charter for an FSRU with a energy and logistics company in the Atlantic Basin, without giving further details. Sources said Golar LNG Partners entered into the deal with U.S.-based New Fortress Energy, which has supplied Jamaica's power utility JPS with LNG since October 2016, using one of Golar's LNG tankers. In its Jan. 19 statement, Golar said it can nominate either the Golar Spirit or the Golar Freeze FSRU provided they meet the project's technical requirements.

Golar LNG Partners announced that it has executed a 15-year charter with an energy and logistics company for the provision of an FSRU (floating storage and regasification unit) and related services in the Atlantic Basin. The charter provides the Partnership with the flexibility to nominate either the Golar Spirit or the Golar Freeze to service the contract provided that the nominated FSRU satisfies certain technical specifications ahead of project start-up, which is expected in the fourth quarter of 2018. The vessel is expected to remain in service for up to 15 years without drydock and will therefore undergo drydocking as well as some minor modifications prior to service commencement.

Golar LNG Partners has agreed with the charterer of the Golar Freeze FSRU, Dubai Supply Authority (DUSUP) certain amendments to the existing time charter that was due to end in May 2020. DUSUP have two FSRU's on contract and do not currently have full time use for Golar Freeze and have therefore been working with Golar Partners to find alternative employment. Golar Partners and DUSUP will continue to cooperate with regards to future employment for Golar Freeze but in the meantime have agreed certain amendments to the existing charter. Golar Partners and DUSUP have agreed to shorten the charter by one year and to remove DUSUP's termination for convenience rights and extension option rights (which ran to 2024).

What’s New in October 2014? Today 324 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 78% of systems on order. Production semis, barges, spars and TLPs comprise the balance. The oil/gas production floater inventory is the same as last month. There were no orders for additional production systems in September. Another 30 floating LNG processing systems are in service or on order. Liquefaction floaters account for 17%, regasification floaters 83%.

Hamworthy has secured the contract to supply liquefied natural gas handling technology for what will be Asia’s first Floating Storage Regasification Unit (FSRU). The marine and offshore fluid handling systems specialist has signed a contract with Golar LNG to deliver a liquefied natural gas regasification system for the West Java FSRU, which will be Indonesia's first LNG regasification terminal. In October, Golar LNG Energy announced that it had been selected by PT Nusantara Regas, a joint venture between Pertamina and PGN, to provide the West Java FSRU. The project will see the existing LNG carrier Khannur converted into a floating terminal that can be situated offshore or at a new or purpose-built jetty/pier.

Golar LNG Limited announced a major restructuring combined with an intent to conduct an equity offering in its newly formed subsidiary, Golar LNG Energy Limited. Consistent with the announcement made in Golar's first quarter report, Golar has incorporated Energy in Bermuda for the purpose of transferring such part of its asset portfolio which is not employed on long term charters to this entity. •    A 13.6% ownership interest in the Australian listed company LNG Ltd. In addition, Energy will acquire the subsidiary owning the 1970 built LNG carrier Golar Freeze which is scheduled to be converted to an FSRU vessel. The transaction will…

Emerson Process Management has won a contract from Golar LNG to supply PlantWeb digital automation architecture for basic process control and safety systems on the Golar Freeze, a floating storage and regasification unit (FSRU) vessel. Currently an LNG carrier, the Golar Freeze will be converted into a floating terminal, and docked at a purpose-built jetty in the Jebel Ali Port near Dubai, UAE. Golar will operate the vessel. Dubai Supply Authority (Dusup) will operate the jetty and the high pressure export line into Dubai to supply needed gas during high energy demand months in the summer.

Golar LNG reports its highest ever quarterly net income at $53.3 million for the three months ended March 31, 2007, as compared to $36.6 million for the three months ended December 31, 2006. These results include the gain on the sale of newbuilding DSME Hull 2244 of $41.1 million. Operating income was also increased at $58.6 million for the first quarter as compared to $40.4 million for the fourth quarter. Revenues have been negatively impacted by a generally weaker spot market for trading LNG ships during the first quarter. Two of Golar's six vessels exposed to the spot market were fixed throughout the period at good rates, but this was offset by two of the other vessels suffering extended periods of idle time.

The shiprepair yard of IZAR Ferrol surpassed previous occupancy records recently, as it simultaneously worked on eight vessels. The yard facilities were fully busy and there was no room to accommodate any other vessels at the yard's two drydocks (of 1,083 x 164 ft. [330 x 50 m] and 673 x 82 ft. [205 x 25 m]) and 5,577 ft. (1,700 m) long quays. One of the vessels, a tanker owned by Spain’s CLH, is the first example of the cooperation capacity between the repair yards of Ferrol and Fene (the former Astano), now part of IZAR since the company took over the facilities of Bazan and AESA. The repair order for the crude oil carrier was awarded to Ferrol, but the vessel had to be docked at Fene due to the high occupancy of Ferrol facilities.

The shiprepair yard of IZAR Ferrol last week surpassed previous occupancy records, as it simultaneously worked on eight vessels. The yard facilities were fully busy and there were no room to accommodate any further vessel at the yard's two drydocks (of 330 m long by 50 m wide and 205 m long by 25 m wide) and 1,700 m long quays. One of the vessels, a tanker owned by the Spanish company CLH, has become the first example of the cooperation capacity between the repair yards of Ferrol and Fene (the former Astano), now part of IZAR since the company took over the facilities of Bazan and AESA. The repairing order for the Spanish crude oil carrier…