In this issue

 

Thursday, 02 March 2017

Mitsui OSK Lines (MOL) is to restructure its business streams from 1st April this year. 

Petronet LNG, India’s largest LNG gas importer, has bought a 26% stake in the shipping consortium that operates its largest LNGC, local sources said. 

Thursday, 02 March 2017

Teekay LNG’s 52% interest in two LNGCs, ‘Marib Spirit’ and ‘Arwa Spirit’, through a joint venture with Marubeni Corp, has been badly affected by the situation in Yemen. 

Teekay LNG Partners, a separately quoted daughter company of Teekay Corp, reported GAAP net income of $84.4 mill, compared with $72.2 mill in the same period of 2015. 

Thursday, 02 March 2017

LNGC containment system supplier, GTT (Gaztransport & Technigaz), reported that its turnover from royalties through 2020, based on its order book at the end of 2016, corresponds to revenues of €426 mill. 

Thursday, 02 March 2017

Two ballast tanks on board the LNGC ’Al Khattiya’ were breached with a loss of some ballast water after she was hit by a tanker on 23rd February off Fujairah.

Thursday, 02 March 2017

Awilco LNG recorded freight income of $9.1 mill and EBITDA of $6.1 mill for the fourth quarter of 2016, compared $8.4 mill and $4.6 mill, respectively, in 3Q16. 

Thursday, 02 March 2017

Höegh LNG reported an EBITDA of £31.2 mill, a profit after tax of $0.8 mill and a   dividend of $0.10 per share for the fourth quarter of last year. 

Nakilat has announced a net profit of QR955 mill for last year, compared to QR984 mill in 2015.

GasLog LNG Services has chosen Seagull Maritime’s e-learning material & competence management platform for use fleet-wide, in manning offices and online. 

Mitsubishi Heavy Industries Marine Machinery & Engine (MHI-MME) has completed retrofits on 80 LNGCs, thus enabling them to run on low sulfur fuel. 

Dynagas LNG Partners has announced that net income during the fourth quarter of 2016 and the full year was $15.5 mill and $66.9 mill, respectively. 

Alfa Laval is to equip two LNGC, South Korean newbuildings for unnamed principals, with two parallel PureBallast 3.1, 3,000 cu m per hour ballast water treatment systems (BWTS) each. 

Excelerate Energy has signed a Letter of Intent (LOI) with Daewoo Shipbuilding and Marine Engineering (DSME) to build up to seven FSRUs. 

News Nudges

HHI uses glycol for FSRUs

Hyundai Heavy Industries (HHI) has demonstrated the installation of LNG regasification system using glycol on a 170,000 cu m FSRU. The demonstration, attended by shipowers and major class societies, was held at HHI’s Ulsan shipyard. As the glycol regasification process is salt free, unlike systems that use seawater, it can minimise equipment corrosion, including heat exchangers and it can also lower the risk of explosion that a propane system may be exposed to, the company claimed. Following the granting of an AiP from Lloyd’s Register last month and both internationally and domestically patented recently, HHI is also in the process of receiving recognition from other major class societies.


Daewoo to deliver two Yamal LNGCs this year

Daewoo expects to deliver two more ice class LNGCs for Russia’s Yamal LNG project this year, a company spokesman told Reuters. The first ‘Christophe de Margerie’ was recently delivered to Sovcomflot (see page 2). The remaining 14 LNGCs for Yamal are all due to be delivered by 2020, including two this year, the spokesman reportedly said. The Yamal LNG project, which is scheduled to start production in October this year, is jointly owned by Russian gas producer Novatek, Total, China’s CNPC and the Silk Road Fund. It is expected to produce 16.5 mill tonnes of LNG per year at three production trains of 5.5 mill tonnes capacity each. LNG will be shipped to Asia from July to December via the Northern Sea Route, but can be delivered to Europe year-round.


Petronas FLNG loads first cargo

Petronas ‘PFLNG Satu’ loaded its first cargo at the Kanowit gas field, offshore Miri, Sarawak on 1st April. The first cargo was shipped on board the LNGC ‘Seri Camellia’, which was due to deliver the cargo to a South Asian terminal. “This accomplishment effectively demonstrates Petronas’ proven technology and capability of adapting a conventionally land-based installation to a floating LNG facility, a game-changer in today’s LNG business landscape,” said Petronas President and Group CEO, Datuk Wan Zulkiflee Wan Ariffin. ‘PFLNG Satu’ was designed to operate in water-depths of between 70 and 200 m. She has a processing capacity of 1.2 mill tonnes per annum. Petronas has another FLNG under construction in South Korea, which was initially scheduled for delivery in 2018 but was subsequently postponed to an undisclosed date.


Teekay LNG in cash distribution

Teekay GP, the general partner of Teekay LNG Partners, has declared a cash distribution of $0.14 per unit for the quarter ended 31st March, 2017. The cash distribution is payable on 12th May, 2017 to all unit holders of record on 5th May, 2017.