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Lng Business

BG Global LNG Appoints New VP

BG Global LNG appointed David Maxwell to the leadership team of the Global LNG business, according to a Chron.com report. As vice president and general manager, LNG Business Development, Maxwell will be responsible for developing new LNG opportunities in Asia Pacific for BG as well as helping to realize existing opportunities. Maxwell was with Woodside where he was director, Gas and Marketing and was involved in the development of Woodside's natural gas and LNG portfolio. He brings an in-depth knowledge of the oil and gas markets in the Asia Pacific region. Prior to this he was with Santos and had responsibility for marketing and business development. Maxwell will be based in BG's offices in Singapore. Source: Chron.com


ABB Wins LNG Propulsion Contract

Chantiers de l´Atlantique, ALSTOM Group, has awarded ABB Marine a contract to supply the electric propulsion system for a new 153,000 cu. M. LNG carrier, owned by Gaz de France. The vessel will be built in France by Chantiers de l´Atlantique and delivered in 2005. The supply of medium voltage power systems to LNG carriers has been a strong growth area for ABB. According to Martinus Brandal, head of ABB´s global Marine business, “In the last three years


World's First FLNG Vessel Steel-Cutting

A steel cutting ceremony for the hull of Petronas' first Floating Liquid Natural Gas (FLNG) held at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea. The steel cutting event signifies a major milestone for the project, which according to Petronas is the world’s first, and the construction phase now commences to meet its commissioning schedule in 2015. The ceremony was led by Petronas’ President and Group CEO


New Report Finds LNG Future Bright

The new report “The Drewry Annual LNG Shipping Market Review and Forecast” finds one sector of shipping with a bright future. The last thirty months has seen a massive surge in interest in the previously conservative LNG business with unprecedented levels of ordering activity for new vessels, much increased interest in new supply projects and new/expanded, terminals. With a growing fleet and more trading opportunities, the traditional structure of shipping could gradually be


Teekay LNG Partners Announces Change to Board of Directors

Teekay LNG Partners L.P. announced that Beverlee F. Park has accepted an invitation to join Teekay LNG's Board of Directors and to Chair its Audit Committee, effective March 11, 2014. Park replaces Robert E. Boyd who retired today from the Teekay LNG Board after serving as a Director and Chair of its Audit Committee since 2005. Park has extensive management and board experience in a variety of industry sectors. She has served at the board, CEO, COO and CFO level in publicly-traded


Agreement to Acquire Arrow Energy Ltd

The Board of Arrow Energy Limited (Arrow) to unanimously recommend its shareholders vote in favour of the joint proposal to acquire 100% of Arrow shares. CS CSG (Australia) Pty Ltd, the 50/50 joint venture company owned by Shell and a subsidiary of PetroChina, has entered into an agreement with Arrow for the proposed acquisition under which it has agreed to pay $4.3 cash per share for all of the shares in Arrow, representing a total consideration of $3.2b


MISC Sees Soft Shipping Rates Ahead

MISC Bhd expects freight rates for crude oil to remain soft over the next two years as competitors put more new tankers to sea. MISC earns 90% of its profits from shipping oil and liquefied natural gas (LNG). A subsidiary of Petroliam Nasional Bhd (Petronas), the world's largest carrier of LNG. LNG is shipped under long-term contracts, but MISC still faces significant exposure to oil freight rates, with crude oil tankers accounting for 40% of its profits.


Leif Höegh & Co. Concludes Exit From Reefers

Leif Höegh & Co. ASA (LHC) has sold its 36% shareholding in Lady Navigation Inc. to Frigo Navigation Ltd. on private terms. Lady Navigation Inc. owns the two reefer vessels Lady Racisce and Lady Korcula. The "Lady" vessels were built in 2000 and have a capacity of 590 000 cbft. Transfer of the shares in Lady Navigation Inc. to the new owner was concluded on 30 June and marks LHC's final exit from the reefer segment. LHC sold its commercial reefer operation, Cool Carriers, to


MHI to Establish LNG Project Management Department

Effective June 1, Mitsubishi Heavy Industries, Ltd. (MHI) will establish LNG Project Management Department, within the Environmental and Chemical Plant Project Management Division of the Company's Engineering Headquarters. The new department will be dedicated to market exploration of LNG (liquefied natural gas) related business opportunities. By establishing the new unit, MHI aims to expeditiously respond to the growing demand for LNG related facilities that is being fueled by rapid expansion


MOL's Top News Highlights 2013

Cracked containership MOL Comfort (Photo courtesy of PTI )

Mitsui O.S.K. Lines, Ltd. has announced the company’s top news stories for 2013 as follows: ■ Business Structural Reforms (BSR) executed (January – March); Single-year management plan “RISE 2013” started (April) Transferred sales and vessel operations of the dry bulker fleet (over 130 vessels) to Singapore to advance business expansion. ¥101.5 billion was allocated as cost of BSR during the fourth quarter of FY2012.


Pivotal to Deliver LNG to Carib for use in Puerto Rico

Pivotal LNG, Inc., a subsidiary of AGL Resources, announced this week a long-term agreement to sell liquefied natural gas (LNG) to Crowley Maritime Corp. subsidiary Carib Energy LLC (Carib). The LNG will be delivered to Puerto Rico. This is the first delivery of LNG for industrial customers in


Steel Cut on First of Three ISVs for KT Maritime

Image courtesy of KT Maritime Australia

A steel cutting ceremony held last week at the Singapore shipyard of partner company, ASL Shipyard Pte Ltd. marked the start of construction for the first of three infield support vessels (ISVs) being constructed by Perth-based KT Maritime Services Australia Pty Ltd to support Shell’s


Sir Frank Chapman Appointed Golar's Chairman

BG Group veteran Chapman joins Golar LNG as chairman

Golar LNG Limited announced that with effect from September 19, 2014, Sir Frank Joseph Chapman has been appointed to the Board of Directors of the Company and will act as the Company's Chairman.   Sir Frank Chapman has worked 40 years in the oil and gas industry culminating in a twelve-year


Seadrill Chairman Reassures Investors as Director Leaves

Seadrill offshore drillship: Photo Seadrill

Seadrill Limited informs that Tor Olav Trøim has decided not to stand for re-election to the Board of Directors in order to focus his efforts on developing Golar LNG. John Fredriksen, Chairman of the Board of Directors comments, "I consider my stake in Seadrill a long term


Russia's Yamal LNG Project May Tap Wealth Fund in 2014

Yamal megaproject

  Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies. Russia's No.2 gas producer, co-owned by an ally of President Vladimir Putin, Gennady Timchenko


Rotterdam Integrates Safety Research with LNG Training Facility

Arjen Littooij, general director Safety Region Rotterdam Area opened today the very first northwest European Falck-LNG-training facility for liquefied natural gas on the Rotterdam Maasvlakte.

  The Dutch company Falck Risc is becoming the number one expert on LNG safety in Europe. Together with the Unified Fire Department, Falck Risc will draw up guidelines and recommendations for emergency response services in dealing with Liquefied Natural Gas (LNG)


Antwerp Port Seeks Inputs on Setting-up LNG bunkering

Antwerp port

  By the beginning of 2016 the port of Antwerp will have an LNG bunkering and filling station for barges. The procedure for construction of the station is currently under way. In order to brief the future constructor as fully as possible about the facilities that the station must offer


Finland Grants Support to Three Small LNG Terminals

The Finnish government granted 65.2 million euros (84.22 million US dollar) in subsidies to build three small liquefied natural gas (LNG) terminals to cut on use of fuel oil and liquefied petroleum gas (LPG) in industry, the economy ministry said on Thursday.


For Europe's LNG Ports, Russia Gas Fears and US Exporters Buoy Demand

Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant. Adding to renewed demand is the more potent interest of major east Asian companies


Trelleborg Report Optimistic for Port Investment

Barometer Report 4: Image Trelleborg

The latest 'Barometer Report' from Trelleborg's marine operations business sector, discusses the issues impacting ports and terminals around the globe, and reveals the most optimistic outlook on investment since the annual industry survey began in 2010


China Orders More MAN Dual-Fuel Units

Photo: MAN Diesel & Turbo

51/60DF engines to power LNGCs MAN Diesel & Turbo has announced a further order for its MAN 51/60DF engine. After a longer period of evaluation, an international consortium, including Teekay LNG Partners, has selected a Dual-Fuel Diesel Electric (DFDE) propulsion solution featuring


Growing American Shipping Act Gaining Support

Legislation promotes revitalization of maritime industry through export of liquefied natural gas on U.S. flagged ships Chairman Duncan Hunter (R-Calif.) and Ranking Member John Garamendi (D-Calif.) held a hearing Wednesday that brought together the House Committee on Transportation and


Shippers Must Reduce Costs, Boost Efficiency

Michael Wilson

So what’s keeping ship operators awake at night these days?  Plenty, it seems. Sluggish recovery from a lingering worldwide recession, unsustainable debt loads, endemic overcapacity in most shipping trades, punishing freight rates


Bulk Carriers to Adopt Wärtsilä Dual-Fuel Engine Technology

 A new cement carrier for JT Cement will feature a 6-cylinder Wärtsilä 34DF main engine, making it the first bulk carrier to adopt Wärtsiläs multi fuel capability.

The increasing use of LNG as a marine fuel is further emphasized with the latest order for Wärtsilä's dual-fuel engine technology. A new cement carrier being built at the Scheepswerf Ferus Smit yard in the Netherlands will feature a six-cylinder Wärtsilä 34DF main engine


DNV GL Presents AIP for ‘LNG Ready’ Mega Box Ships

From right to left: Tor Svensen, CEO of DNV GL Maritime, presents the Approval in Principle for the first “LNG Ready” mega box ships to Oi Hyun Kim, CEO and COO of HHI’s Shipbuilding Division, and Waleed Al Dawood, COO of United Arab Shipping Company, in the presence of His Excellency Sheikh Ali Bin Jassim Al Thani, UASC Board Member.

Wednesday at the SMM trade fair in Hamburg, DNV GL presented Hyundai Heavy Industries (HHI) and United Arab Shipping Company (UASC) with an Approval in Principle (AIP), recognizing the technical feasibility of the LNG fuel system design for the A14 and A18 series of container vessels






 
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