Schulte Group Buys LNG Specialist PRONAV
Hamburg shipowning and management group Bernhard Schulte has signed a contract for the acquisition of 100% of the shares in the prestigious LNG ship manager PRONAV - subject to merger approval of the German Federal Cartel Office (Bundeskartellamt). The worldwide operating Schulte Group owns about 100 vessels (mainly container, tanker, bulker) and manages 600 vessels in all segments. PRONAV, based in Hamburg, is an internationally renowned ship manager specialized in large LNG tonnage.
GasLog: New Shipbuilding Order with SHI
GasLog , an international owner, operator and manager of liquefied natural gas (LNG) carriers, has announces that it has ordered a newbuild 180,000 cubic meter vessel with XDF propulsion from Samsung Heavy Industries (SHI) that is scheduled to deliver in the third quarter of 2019. This vessel is currently unchartered but its early delivery means that it is expected to deliver into a strong LNG shipping market. Paul Wogan, Chief Executive Officer of GasLog Ltd., commented, "I am very pleased to announce this expansion in our fleet.
Elengy LNG Trans-Shipment at Montoir-de-Bretagne
Elengy, a unit of the French energy company and LNG player Engie, said that the LNG receiving terminal in Montoir-de-Bretagne, managed by the company, has just performed a new generation LNG transshipment. The ice-class LNG carrier Fedor Litke (170 000 cm capacity) has delivered to the LNG Jurojin (155 000 cm capacity) an LNG cargo the size of the yearly gas consumption of a city like Nantes. This was done safely during an twin call thanks l. The LNG was transferred through the cryogenic pipelines linking directly the two berths, without going through the terminal’s tanks.
ABB Wins Electrical Contract for Drillships, LNG Carriers
ABB's order, worth $80 million from Samsung Heavy Industries, is to supply energy efficient drives, motors and electrical power systems for five drilling vessels and two liquefied natural gas (LNG) carriers to be built at Samsung’s shipyard in Korea. The vessels will be used to extract, process and transport oil and gas. Samsung is building five drill ships (three for Seadrill Ltd. in Norway, one for Pacific Drilling S.A in Brazil and one for Ensco Plc in the UK) and two LNG carrier vessels for Golar LNG Ltd in the UK. The vessels will be used for oil and gas exploration and the transportation of liquefied natural gas. ABB will deliver the complete electrical system for the seven vessels…
GasLog Partners To Buy Three Vessels
GasLog Partners LP and GasLog Ltd. announced today the closing of the Partnership’s acquisition from GasLog of 100% of the ownership interests in the entities that own and charter the liquefied natural gas (“LNG”) carriers the Methane Alison Victoria, the Methane Shirley Elisabeth and the Methane Heather Sally. GasLog’s fully-owned fleet consists of 19 LNG carriers (including 11 ships in operation and 8 LNG carriers on order), and GasLog has four LNG carriers operating under its…
LNG: Did the Greeks Get it Wrong?
In December 2013, Alibra’s market report front page read: “When in shipping, do as the Greeks do.” At that time, Alibra was referring to the fact that 31% of the LNG carrier orderbook had been ordered by Greek owners. Billions of dollars in CAPEX were being pumped into natural gas exploration, as well as building infrastructure such as liquefaction and export terminals, especially in the US. Some 180 LNG carriers were ordered between January 2011 to December 2014 – many of them speculatively. Of these vessels, 52 were ordered by Greek companies (29%).
Andreas Silcher Negotiates LNG Carrier Contracts
Partner Andreas Silcher in Haynes and Boone’s London office represented TMS Cardiff Gas in its contract with Hyundai Heavy Industries of Korea (HHI) for the construction of one 174,000 cubic meter LNG carrier with XDF propulsion, plus an option for a second vessel. In a press release, TMS Cardiff Gas called the order the first in the company’s X Carrier Series of orders, which expands the company’s fleet of managed vessels to 10. The vessel is scheduled for delivery in 2020, when she will enter into a seven-year time charter contract with TOTAL Gas & Power Chartering, Limited.
Teekay Order Two More 173,400 cu.m LNG Carriers
Teekay LNG Partners L.P. has exercised two of its three existing options with Daewoo Shipbuilding & Marine Engineering Co., Ltd., (DSME) of South Korea for the construction of two 173,400 cubic meter liquefied natural gas (LNG) carrier newbuildings for delivery in 2016. These two newbuilding LNG carriers are in addition to the two LNG carriers Teekay LNG ordered from DSME in December 2012, which have since secured time-charter employment commencing upon delivery. These newbuildings will also be constructed with the M-type…
Shipbuilders See More Growth with Oil Price Rise
The Korea Times reported that shipbuilders who were enjoying solid sales have also secured an additional growth engine for further expansion rising oil prices. With oil prices hitting record highs, offshore oil exploration has picked up, leading to strong demand for drilling rigs and for the conversion of oil tankers into floating-production, storage and offloading (FPSO) vessels. The unit price of Dubai crude oil, South Korea’s benchmark, rose to a record high of $71.13 in August, an increase of $1.64 from a month earlier, according to data from the National Statistical Office (NSO). The statistics agency added that it is the first time for oil import prices to exceed $70 a barrel. Industry sources said oil prices have quadrupled since 2002.
Tenth LNG Carrier to Damen Shiprepair in France
Damen Shiprepair Brest (France) says it has received its 10th LNG carrier repair order from GDF SUEZ in-house technical vessel manager Gazocean. The vessel will undergo extensive maintenance works in the yard. Damen explain that the 73,646 cu.m capacity vessel was delivered under the name of Gaz De France Energy in 2006 at Chantiers de L’Atlantique in St.Nazaire and was renamed in 2009. The vessel was the first vessel fitted with a Dual Fuel Diesel Electric Propulsion which is now a new standard of the LNG shipping industry and has a GTT CS1 type LNG containment system.
ME-GI Engines for Maran's New LNG Carriers
Daewoo Shipbuilding & Marine Engineering (DSME) has signed new contracts with Maran Gas Maritime and Maran Tankers Management for the construction of two ME-GI powered LNG carriers and two VLCCs, both shiptypes with a number of options. Maran Gas Maritime has already four ME-GI powered LNG carriers on order at DSME. Maran Gas Maritime is the LNG shipping company of Angelicoussis Shipping Group, Greece’s largest shipowner, and Maran Tankers Management is the tanker arm of Angelicoussis. The Korean shipbuilder announced on June 9 that it won the orders at the international shipping exhibition Posidonia in Greece. The LNG carriers are slated for delivery in 2019 and the VLCCs are due in the first half of 2018.
Bestobell Secures Another Marine Order
Bestobell Marine has secured an order for its cryogenic globe and check valves for the second LNG carrier in the Yamal series of vessels being built at DSME shipyard in South Korea. After winning the contract to supply cryogenic valves to the first vessel that will be owned and operated by Russian company Sovcomflot, the company proved it had the expertise and capabilities to supply the second Yamal vessel, which will be owned and operated by Japanese shipping company Mitsui O.S.K. Lines (MOL).
Mitsui Orders 2 LNG Carriers from MHI
Mitsubishi Heavy Industries, Ltd. (MHI) reports it has received an order for two next-generation LNG (liquefied natural gas) carriers from Mitsui & Co., Ltd., scheduled for completion and delivery in 2018 and 2019, respectively. They will be put into service for the Cameron LNG Project underway in the United States, an initiative in which Mitsui is participating, marking the first order placed to MHI for LNG carriers to transport shale gas. The order for the two LNG carriers was received through MI LNG Company, Limited, a joint venture between MHI and Imabari Shipbuilding Co., Ltd.
GasLog to List on NY Bourse
LNG carrier owners and operators, GasLog Partners LP, inform it has priced its initial public offering of 8,400,000 common units representing limited partner interests at $21.00 per common unit. The common units will begin trading on the New York Stock Exchange on May 7, 2014 under the ticker symbol “GLOP”. The offering is expected to close on May 12, 2014. The underwriters have a 30-day option to purchase up to 1,260,000 additional common units from the MLP at the initial public offering price.
GasLog Raises $1.3B for Eight LNG Newbuilds
Peter Livanos-backed Monaco-headquartered owner and operator of liquefied natural gas (LNG) carriers GasLog Ltd. has completed a USD 1.3 billion credit facility with fourteen international banks to finance the construction of eight 174,000 cbm newbuilds. New York-listed GasLog says 14 banks, plus two export credit agencies, have supported the facility. The Export Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-Sure) are either directly lending or providing cover for over 60% of the facility, GasLog said.
TMS Cardiff Gas Places Order at HHI
TMS Cardiff Gas said it signed a contract with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the construction of one 174,000 cubic meter liquefied natural gas (LNG) carrier, with an option for a second vessel. The newbuild is scheduled for delivery in 2020, when she will enter into a seven year time charter contract with TOTAL Gas & Power Chartering, Limited. This order is the first in the company’s X Carrier Series, which expands the TMS Cardiff Gas fleet of managed vessels to 10 (six LNG carriers and four VLGCs).
Korea to be Shipbuilding Leader Again: President
President Moon was visiting Daewoo Shipbuilding and Marine Engineering`s Okpo Shipyard in Geoje, Gyeongsangnam-do Province, to inspect the shipbuilding yard of an icebreaker arctic liquefied natural gas (LNG) tanker. “The government will protect and bring up your hope,” he said. The icebreaker LNG carrier the president inspected is equipped with state-of-the-art technology that`s specialized in polar regions. It enables the ship to safely navigate cold weather in temperatures as low as minutes 52 C.
ABS to Class Innovative Moss-type LNG Carriers
To be built in Ulsan, Korea, the ships will feature energy efficient reheated steam turbine engines. ABS, a provider of classification and technical services to the maritime industry, has been awarded a contract for the classification of two innovative 'Moss-type' LNG carriers to be built in Korea for Malaysia's Petroliam Nasional Bhd (Petronas). The 150,200-m3 capacity ships will the largest Moss-type units ever built at Hyundai Heavy Industry's shipyard in Ulsan, Korea, featuring the latest technology to improve energy efficiency and operational reliability.
Teekay Charters Out Two LNG Newbuildings
Teekay LNG Partners signs two, 5-year time-charter contracts with Cheniere Marketing to provide Liquefied Natural Gas (LNG) transportation services. The fixed-rate time-charter contracts will be serviced by the two 173,400 cubic meter LNG carrier newbuildings ordered by Teekay LNG in December 2012. The newbuildings are currently under construction by Daewoo Shipbuilding & Marine Engineering of South Korea and are scheduled to be delivered in the first half of 2016. These new ships will be constructed with M-type, Electronically Controlled, Gas Injection (MEGI) twin engines, which are designed to be significantly more fuel-efficient and have lower emission levels than other engines currently being used in LNG shipping.
Kongsberg Releases Dual Fuel Diesel Electric Simulator
Ongoing simulation model development focuses on vessel efficiency. Kongsberg Maritime has released a sophisticated Engine Room Simulator (ERS) model based on a Dual Fuel Diesel Electric (DFDE) Engine Room configuration from a modern liquefied natural gas (LNG) carrier. The new DFDE model will offer the most sophisticated simulator training for LNG engineers available today. DFDE driven vessels are becoming more and more common and the new engine room simulator model from Kongsberg…
Sovcomflot Takes Delivery of Dual-Fuel Power
Sovcomflot, Russia’s largest shipping company, has taken delivery of its latest LNG carrier, the Velikiy Novgorod, from South Korea’s STX Offshore & Shipbuilding. The ship is equipped with a diesel-electric, dual-fuel propulsion system consisting of 2 × MAN 8L51/60DF and 2 × MAN 9L51/60DF engines, offering a total rated power of 34 MW, which were constructed at MAN Diesel & Turbo’s Augsburg plant in Germany. The propulsion facility provides the LNG carrier with a highly efficient, low-emission propulsion system, especially when running in gas mode.
Two LNG Carriers Ordered for US Shale Gas Transport
Japanese shipbuilder Mitsubishi Heavy Industries, Ltd. (MHI) informs it has received orders for the construction of two next-generation liquefied natural gas (LNG) carriers that will primarily carry shale gas produced in North America. The shipbuilding contracts, received through MI LNG Company, Limited, a joint venture between MHI and Imabari Shipbuilding Co., Ltd., will see the delivery of one LNG carrier each for two separate joint ventures which Chubu Electric Power Co., Inc. has established with Mitsui O.S.K. Lines, Ltd. (MOL) and Nippon Yusen Kabushiki Kaisha (NYK Line), respectively. The vessels will be built at MHI's Nagasaki Shipyard & Machinery and are both scheduled for completion and delivery in 2018 when they will commence transporting shale gas produced in North America…
Altamira Pilots Train at MSI
Pilots from the port of Altamira, Mexico, attended special training at MarineSafety International's Newport Simulator Center from October 1 to 5, 2007. The training used a full mission bridge as an LNG carrier and a smaller simulator as a 55 tonne ASD tug. The exercises were interactive, with the pilot on the LNG carrier giving orders directly to the tug master. port personnel, who also attended the course. dock. terminal going into operation in August of 2006. personnel working at the new Altamira LNG terminal. shipments, without incident.