Petronas completes second breakbulk LNG STS

Petronas has completed a second LNG break bulking ship-to-ship (STS) transfer with the split cargoes destined for the Chinese market. The operation saw the 152,888-cbm Seri Bijaksana (built 2008) transfer smaller parcels onto two ‘daughter’ vessels for onward deliveries to different LNG terminals in Shanghai. The two LNG parcels, sourced from Gladstone LNG in Australia, were transferred to the 89,900-cbm Arctic Spirit and Polar Spirit (both built 1993) respectively. “The…

May 24, 2019
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Open speculative LNG ship numbers shrink over next 18 months

Few uncommitted LNG newbuildings remain to be delivered this year, and the number of open vessels for the large delivery haul scheduled for 2020 is also falling. Brokers said two Flex LNG ships appear to be the only open speculatively-contracted vessels on offer in the current market. The 173,400-cbm newbuildings Flex Constellation and Flex Courageous are scheduled for handover from DSME in June and August ­respectively. Clarksons’ Shipping Intelligence Network…

May 23, 2019
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Tor Olav Troim ‘very excited’ about the second half of 2019

Tor Olav Troim is bullish about the prospects for the rest of 2019 as newbuilding order books empty and the incoming IMO 2020 regulations threaten to disrupt markets. In an exclusive interview with TradeWinds and sister magazine TW+, the Golar LNG chairman said: “I am very excited about the second half of this year. Quite frankly, for the last 10 years, ­nobody made any money in ­shipping.” But he added:…

May 23, 2019
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Hadjipateras hopeful of VLGC recovery as rates reach three-year highs

Greek shipowner John Hadjipateras is hopeful a sustained upturn in the VLGC market has arrived. Dorian LPG sees steady growth as VLGC spot rates mount short-term surge Commodore-to-be John Hadjipateras has no regrets after baulking at BW LPG takeover bid Dorian chief executive Hadjipateras says the past two months have delivered spot earnings at the highest level since the end of the super-cycle in early 2016. “We are cautiously optimistic…

May 23, 2019
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Teekay LNG adds five years of new charters

New York-listed Teekay LNG Partners has revealed new charters to keep three vessels busy for another five years. The company said a fixed-rate extension of three years has been agreed for the 87,305-cbm LNG carrier Polar Spirit (built 1993). This will be at a higher rate than its previous deal. In addition, one-year contracts were signed for the 165,500-cbm Arwa Spirit and Marib Spirit (both built 2008). The carriers are…

May 23, 2019
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Maran Gas Maritime poised to bump up tally at DSME

Maran Gas Maritime is set to increase its huge LNG carrier orderbook by declaring an ­optional newbuilding slot in South Korea. Newbuilding sources said the John Angelicoussis-led company has already inked the option with favoured shipbuilder DSME. They said the addition will give the Greek shipowner a fleet of 43 LNG vessels — 29 in operation and 14 on order. Its newbuilding book includes one floating storage and regasification unit….

May 23, 2019
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Hyundai Heavy Industries secures order for two LNG carriers

Hyundai Heavy Industries has secured newbuilding orders for two LNG carriers, the shipbuilder confirmed Thursday. The world’s largest shipbuilder said the contracts were worth KRW 463.8bn ($389.5m) in total with deliveries set for the middle of 2022. The identity of the buyer was not disclosed with Hyundai only describing them as “European shipping company”. Hyundai’s shipbuilding order target for 2019 is around $15.9bn, a year-on-year increase of 14% from that…

May 23, 2019
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Hyundai wins orders for two LNG carriers, six tankers

Hyundai Heavy Industries and its subsidiaries have secured newbuilding orders for two 180,000-cbm LNG carriers and six tankers, the shipbuilder confirmed Thursday. The world’s largest shipbuilder said the LNG contracts were worth KRW 463.8bn ($389.5m), with deliveries set for the middle of 2022. The group also said affiliates Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries also secured orders from European shipowners this week. Hyundai Mipo will build four product…

May 23, 2019
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LNG shipping faces questions as new US volumes emerge

A first cargo is expected to leave Sempra Energy’s Cameron LNG liquefaction facility in the US before the end of this month. The 177,000-cbm newbuilding Marvel Crane will lift the shipment from the Louisiana plant, which President Donald Trump visited with much fanfare last week. This maiden cargo is a sign that some of the ­delayed new LNG projects are finally starting up. The bulk of this supply is coming…

May 22, 2019
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VLGC giant BW LPG nets new $458m loan from eight banks

Andreas Sohmen-Pao’s BW LPG has secured a major refinancing package covering debt that was falling due next year. BW LPG shares inch up after Ackermann dips into stock The world’s largest VLGC owner has singed a new $458m package with eight banks to refinance a previous $800m facility. Martin Ackermann, chief executive of BW LPG, said the deal involved existing banks and two new lenders to the Oslo-listed company. “This…

May 22, 2019
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