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Gas Carriers

Bergesen Sells Gas Carriers

Bergesen has sold the gas carriers Havsol and Havbris, both 12,000 cbm, built in 1976 and 1977 respectively. Havsol was s old for scrap, while Havbris was sold to Greek interests for continued operation. Delivery is expected to take place within end of May 2003. The sale will generate an insignificant sales profit in secondBergesen Sell Gas Carriers Bergesen has sold the gas carriers Havsol and Havbris, both 12,000 cbm, built in 1976 and 1977 respectively. Havsol was sold for scrap, while Havbris was sold to Greek interests for continued operation. Delivery is expected to take place within end of May 2003. The sale will generate an insignificant sales profit in second quarter 2003.


Russian LNG Carrier Launched

LNG carrier Velikiy Novgorod: Photo credit SCF

Sovcomflot’s new state-of-the-art LNG carrier 'Velikiy Novgorod' launched from STX Offshore & Shipbuilding shipyard. The Velikiy Novgorod was ordered by OAO Sovcomflot for operations under a long-term agreement with Gazprom Global LNG (part of Gazprom) as the first of two vessels ordered by SCF from STX Offshore & Shipbuilding Co. Ltd and her construction is scheduled to be completed in December, 2013


Daewoo Shipbuilding Gets Order From Exmar

Daewoo Shipbuilding & Marine Engineering Co. has won a $270 million order to build a liquefied natural gas carrier and refit three other LNG carriers for Exmar N.V. of Belgium. According to reports, Daewoo will deliver the vessels by 2005. The vessels are capable of carrying 4.83 million cubic feet of liquefied natural gas each and will be chartered to Houston, Texas-based El Paso Global LNG.


Drydocks World Allies with Ship Management Company

Drydocks World announced that an Alliance Agreement has been signed with EXMAR Shipmanagement Drydocks World, whose business is in ship repair, conversion and new building, has announced that it has signed an Alliance Agreement  with EXMAR Shipmanagement, a company that offers high-end ship management services to the maritime industry. The two companies hope to strengthen their relationship on the basis of the new Alliance Agreement


BW Group's 1H Performance Better than Expected

Moody's Investors Service says that operating results of BW Group (Ba2 negative) in 1H 2012 were better than expected, largely because of the higher charter rates achieved by the company for its vessels. "We had expected BW Group's performance to weaken, as many of its vessels were coming off profitable time-charters in 1H and it was increasingly exposed to deteriorating spot-market rates. However, spot rates, especially in the gas carrier segments, either held up or improved


Navigator Declares Further Newbuilds

Navigator Holdings Ltd. today announced that it has exercised its last remaining option to construct a 22,000 cubic meter gas carrier at Jiangnan Shipyard (Group) Co Ltd. in China at the previously agreed construction price of $44 million, with the vessel scheduled for delivery in March 2016. Furthermore, Navigator has entered into a contract with Jiangnan to construct a 35,000 cubic meter gas carrier for delivery in April 2016


Shipbuilders Focus on High-Value Vessels

South Korean shipbuilders are profiting more than ever from selling high-value units such as offshore plants and liquid gas carriers, according to a Korea Times report. Daewoo Shipbuilding and Marine Engineering has already won a record-high $7 billion in building orders this year. Such high performance was largely affected by the sales of four offshore oilrig units, which amounted to $1.9 billion in total. The company also has recorded steady sales of LNG carriers


Bergesen Sells Havyind and Havlys

Bergesen has sold the gas-carriers Havvind and Havlys, both 12.000 cbm, built in 1976, for scrapping. The sales price is about USD 0,8 million per vessel. The vessels will be delivered in the second half of June 2002. Bergesen will also put up the gascarrier Havlur, 12.000 cbm, built in 1977, for sale for scrapping.


Korea's Daewoo To Grab Hold of LNG Ship Market

Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300


Samsung Heavy $1.2B LNG Ship Orders

According to a report from Bloomberg, Seoul-based Samsung Heavy Industries Co. received orders to build six liquefied natural gas carriers worth a total $1.2b as demand for the fuel surges, prompting a jump in the shares.   (Source: Bloomberg)


Pskov Gas Carrier Construction Nears Completion

Photo courtesy of RS

On August 25, 2014, the naming ceremony for the Pskov high-tech liquefied natural gas (LNG) carrier was held at the South Korean shipyard STX Offshore & Shipbuilding. The ceremony was attended by Aleksander Medvedev, Deputy Chairman of the Gazprom Management Committee, Evgeniy Ambrosov


Gazprom, Sovcomflot Expand LNG Transport Cooperation

Gazprom and Sovcomflot named the new state-of-the-art 170,000m³ liquefied natural gas carrier (LNGC) Pskov, after one of the oldest Russian cities. The ship will be chartered to Gazprom Global LNG (GGLNG) under a long-term contract. The LNGC Pskov is the second vessel in a series of


Latest Ocean-Going Shipbuilding Orders

Welding: Photo courtesy GLG

Clarkson Hellas notes in its latest 'S&P Weekly Bulletin' shipbuilding orders placed in the dry bulk, tankship, gas carrier and containership sectors, as follows: Dry bulk carriers A couple of orders to report in dry this week with Santoku Senpaku adding further Kamsarmax to their orderbook


G E Shipping Sells General Purpose Product Tanker

Great Eastern

The Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to sell the 1991-built General Purpose Product Tanker Jag Prachi (28,610 dwt). The vessel will be delivered to buyers in September-October, 2014. The company’s current fleet stands at 30 vessels


Recent Vessel Sales: June 2014

Vessel sales for June 2014 (as of July 1) as prepared by Shipping Intelligence, Inc., New York. Date Reported – Vessel Name – DWT – Built (Age) – Price in Millions USD Bulk Carriers 6/26 - TAN BINH 36 - 22,257 - 90 (24) - $3.7


RS Develops Engineering Capacity, Implements AIP Service

Russian Maritime Register of Shipping (RS) has implemented the Approval in Principle (AIP) service as part of a project to enhance the rules for the technical supervision during construction of ships and manufacture of materials and products for ships.


Good Profitability Noted in Wärtsilä H1 Interim Report

Wärtsilä 46DF Engine: Image courtesy of the manufacturers

Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2


Wilhelmsen Secures Inert Gas System Orders

Breakthrough order in Japanese shipbuilding market sees largest ever capacity Maritime Protection IG units delivered for leading domestic owners. Wilhelmsen Technical Solutions (WTS) has secured multiple orders to supply its Maritime Protection Dry Inert Gas Generator (DIGG) systems for


GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced the order of nine Liquefied Natural Gas Carriers (LNGCs) which will be built by the Korean shipbuilder Daewoo Shipbuilding &


Dorian LPG MoU with HNA Logistics

Dorian LPG  Strategic Relationship with HNA Logistics

  Dorian LPG Ltd. a leading owner and manager of modern VLGC's (very large gas carriers), today announced that it has entered into a Memorandum of Understanding ("MOU"), with HNA Logistics Group Co., Ltd.  to explore opportunities in the liquefied petroleum gas logistics market


Höegh LNG Partners Launch IPO

  Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,600,000 common units representing limited partner interests in


Recent Vessel Sales: July 2014

Vessel sales for June 2014 (as of July 1) as prepared by Shipping Intelligence, Inc., New York. Date Reported – Vessel Name – DWT – Built (Age) – Price in Millions USD Bulk Carriers 7/28/14 - STHENO - 6,238 - 81(33) - $.4 7/28/14 - GAN SHUN - 6,844 - 99(15) - $1.1


Navigator Enters Long Term Ethane Transport Charter

Photo: S. Nizhebetskyy

Navigator Holdings Ltd. announced today that it has signed a long term shipping agreement for one of its 35,000 cubic meter ethylene/ethane capable semi-refrigerated liquefied gas carriers, currently being built at Jiangnan Shipyard, China.


Hoegh LNG Partners Prices IPO

  Höegh LNG Partners LP  a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd., announced today the pricing of its initial public offering of 9,600,000 common units representing limited partner interests in the Partnership at $20.00 per unit


LNG Carriers GasLog Financial Results Q2 2014

Image courtesy of GasLog

GasLog Ltd. and its subsidiaries, an international owner, operator and manager of liquefied natural gas carriers, has reported its financial results for the quarter ended June 30, 2014, excerpted as follows: Highlights Completion of the initial public offering (“IPO”) of






 
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