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Liquefied Natural Gas Vessels News

08 Feb 2024

Wärtsilä Books Ammonia Fuel System Order for Two Exmar Gas Carriers

3D rendering of the Exmar LPG’s ammonia dual-fuel mid-size gas carrier (Credit: Exmar)

Wärtsilä Gas Solutions, part of technology group Wärtsilä, will deliver the fuel supply system for Exmar’s two new medium size gas carriers that will operate with ammonia fuel.The ships are being built at the Hyundai Mipo Dockyards (HMD) in Korea for ship owner Danish shipowner Exmar LPG, a joint venture between Exmar, a multi-disciplinary maritime and offshore solutions provider, and Seapeak, one of the largest independent owner-operators of liquefied natural gas vessels.These…

16 Dec 2019

MHI Mulls Selling Flagship Shipyard

According to a report in JIJI Press, Mitsubishi Heavy Industries  is considering selling one of its largest shipbuilding plants in Japan to reduce costs.According to the report , the Japanese conglomerate is weighing the sale of the Koyagi plant in the southwestern city of Nagasaki to Oshima Shipbuilding Co., the third biggest shipbuilder in the country.With the sale, Mitsubishi Heavy would effectively withdraw from construction of large vessels carrying resources such as liquefied natural gas. The Koyagi plant, founded in 1972, stopped building liquefied natural gas vessels in September this year and now focuses on LPG ships.Nikkei reported that while shipbuilders in South Korea and China make moves to realign…

12 Apr 2019

DNV GL, Keppel to Promote Use of LNG as Ship Fuel

Norwegian classification bureau DNV GL and Singapore-based Keppel Marine and Deepwater Technology (KMDTech), a subsidiary of Keppel Offshore & Marine (Keppel O&M), have signed a framework agreement to boost the uptake of liquefied natural gas (LNG) as ship fuel.The deal covers potential newbuilding projects including LNG bunker vessels, small-scale LNG carriers and floating storage regasification units (FSRUs), as well as LNG related assets employing battery and hybrid technologies.“The signing of this agreement signifies another milestone in the close partnership between DNV GL as the leading classification society for LNG ships and offshore assets…

09 Jan 2019

Trade War Contributes to U.S. LNG Export Decline

File Image: CREDIT Robert Murphy

The number of U.S. liquefied natural gas vessels that went to China in 2018 fell by around 20 percent from the prior year as the trade war between Beijing and Washington heated up.In recent weeks, however, that dispute has cooled somewhat with talks in China this week between Chinese and U.S. trade teams raising hopes additional tariffs can be avoided.As the trade war escalated during the last six months of 2018, only six LNG vessels went from the United States to China, down from 25 during the same period in 2017. China imposed tariffs on U.S.

23 Mar 2017

Daewoo Shipbuilding to Get Fresh $2.6 Bln Bailout

File photo: Daewoo Shipbuilding & Marine Engineering Co Ltd

South Korean state banks are preparing a fresh $2.6 billion bailout for floundering Daewoo Shipbuilding & Marine Engineering Co Ltd, which has built up huge losses from offshore projects and risks missing debt repayments. Daewoo, Hyundai Heavy Industries and Samsung Heavy Industries are South Korea's top shipbuilders - a massive economic force and a source of national pride. But they slipped into the red in 2015 amid a commodities downturn and bleak trade volumes, prompting cost cuts and asset sales. Of the three, Daewoo's situation is the most difficult.

11 Jun 2016

Helengi Unveils LNG Bunkering Vessel

Greece's LNG engineering solutions provider, Helengi has revealed its LNG bunker feeder vessel Amaltheia during the recent Posidonia exhibition held in Athens. "A state of the art vessel is the result of years of intensive engineering studies and it is the first time that Greek companies undertake such a demanding and complex design on this special type of vessel. Both Helengi and NAP Engineering teams display extensive expertise in Marine Engineering and LNG marine applications with wide international experience in the sector," says a statement from the company. Helengi Engineering and NAP Engineering have been collaborating on this unique innovative project which will boost shipbuilding sector bridging the present with the LNG future era.

13 May 2015

Delfin LNG Proposes Gulf Coast’s First Offshore LNG Facility

A potential deep-water port LNG export project for the Gulf of Mexico has submitted applications to the Maritime Administration and the United States Coast Guard for approval. Delfin LNG LLC has submitted an application to the Maritime Administration (MARAD) and the United States Coast Guard (USCG) to construct, own, and operate the Delfin LNG Project (Port Delfin) under the Deepwater Port Act. The primary purpose of the proposed project is to provide a safe and reliable facility to liquefy natural gas for export to free trade agreement (FTA) and non-FTA nations under authorizations from the US Department of Energy. The deepwater port…

07 Feb 2001

S. Korean Shipyards Seek To Boost Profitability

After raking in almost 40 percent of global orders in 2000, South Korean shipyards plan to focus on boosting profit margins this year by being more selective in picking up orders, company officials and analysts say. The country's major shipbuilders are under no pressure to accept new orders as their backlogged orders are sufficient to keep their dockyards busy for the next two-and-a-half years. But officials at Hyundai Heavy, the world's largest shipbuilding firm, said that its profit margins would increase dramatically through rigorous requirements on new orders and other cost-cutting measures. Samsung Heavy and Daewoo Shipbuilding, two major world shipbuilders, said they would adopt similar strategies this year.

11 Oct 2005

Korean Shipbuilders Buoyed By High Oil Prices

The sky-high price of international oil causing jitters in many sectors of the economy is being met with rather more cheer by Korean shipbuilders. High oil prices have resulted in a surge in orders for crude oil drilling facilities, which are the second-most profitable business for shipbuilders after liquefied natural gas vessels, according to a report on inadaily.com. Sales of oil drilling facilities this year at the top three shipbuilders in Korea - Hyundai Heavy Industries Co., Samsung Heavy Industries Co., and Daewoo Shipbuilding and Marine Engineering Co. - amounted to $4.7 billion as of last month. To put this in context, sales of such products at the three companies ran to just $1.8 billion for the whole of last year.

28 Oct 2005

HHI Capitalizes on Offshore Business

The name Hyundai Heavy Industries (HHI) usually comes up with a name tag of the worlds largest shipbuilder. But the Ulsan-based company is now dreaming of becoming more than just a shipbuilder, as they have found out that selling offshore oil drilling facilities and industrial plants can be lucrative businesses especially with the soaring oil price, according to a report in the Korea Times. Earlier this month, the company won a $1.3-billion contract from Kuwait Oil Company in upgrading their crude oil export facilities by beating a consortium led by Spanish and Italian companies. It was the largest overseas construction deal won by a South Korea company this year, amounting more than 80 percent of the company’s total sales of such products last year.