LNG: Germany to Benefit from Dutch LNG Terminal
As Germany seeks to replace its shuttered nuclear reactors, it appears that the country will likely to become the biggest customer for the Netherlands' first liquefied natural gas (LNG) terminal within two to three years, according to a report on Reuters. The 800 million euro Gas Access to Europe (Gate) terminal in the port of Rotterdam, built by Gasunie and Koninklijke Vopak and due to open in September, was initially seen as a small contributor to help provide a stable gas supply in north-west Europe. It received an unexpected shot in the arm when Germany decided, following Japan's Fukushima crisis, to immediately close 40 percent of its nuclear capacity and entirely phase out atomic energy by 2022. The capacity will need to be replaced by 10 gigawatts of new power stations.
Vopak To Sell Tankers
Dutch chemicals storage and shipping company Koninklijke Vopak reported a five percent rise in 2000 net profit, driven by its North American distribution business, and forecast a sharper rise in the current year. Vopak, the world leader in tank storage, said net profits after payouts of preferential share dividends rose to 160.1 million euros ($148.9 million) in 2000 from 152.2 million euros in the previous year. Vopak said profits after goodwill write-offs were likely to rise by eight to 10 percent in 2001, and also forecast a rise in net profit before goodwill and one-time charges of 19-21 percent in the current year. Company watchers said although the 2000 figures came as no surprise, the outlook for 2001 was slightly disappointing.
Broström Vessel Launched at Ferus Smit
At a ceremony on February 8 at the Shipyard Ferus Smit in the vicinity of Groningen, Holland, another modern, double-hulled product tanker of 7,600 dwt was launched and named. The vessel was given the name BRO GEMINI by the godmother Mrs Betty van den Driest, the wife of Mr Carel van den Driest, Chairman of the Executive Board of Koninklijke Vopak NV. BRO GEMINI will when delivered be serving Broström's portfolio of cargo contracts with major oil companies together with the earlier delivered sister vessels BRO GRACE, BRO GLORY, BRO GLOBE and BRO GALAXY. All these vessels are the result of a close co-operation between Broström and Erik Thun AB. Another three vessels are on order at the same yard.
