Höegh’s unitholders’ meeting date agreed
Höegh LNG Partners has agreed upon a record date of 22nd August for a special meeting of its unitholders currently planned to take place on 20th September. At this meeting, the holders of the Partnership's common units will vote on the proposed merger with a subsidiary of Höegh LNG Holdings. Partnership common unitholders of record at the close of business on 22nd August will be entitled to receive notice of the special meeting and will be able to to vote at it.
Ships - Newbuildings, sales, deliveries
NYK in partnership with, “K” Line, MISC Berhad, and China LNG Shipping (Holdings), has signed a long-term timecharter contract with QatarEnergy. This involves seven 174,000 cu m LNGCs, which were subsequently ordered by the partners at Hyundai Heavy Industries. They will be fitted with X-DF 2.1 iCER 2-stroke engines and air lubrication systems, both of which will contribute to a reduction of GHG emissions and an improved environmental impact, NYK said. Their deliveries are planned for 2025/2026. Excelerate Energy has signed a letter of intent (LoI) with Hyundai Heavy Industries for an 170,000 cu m FSRU. The vessel will be delivered in 2026, the company revealed during its second quarter results presentation. An option for a second vessel is also under discussion. DSME has confirmed the receipt of an order for a single LNGC from undisclosed interests worth around $238 mill. She is due for delivery in September, 2026. As for vessel deliveries, BW LNG held a naming ceremony for two LNGC newbuildings at DSME’s Okpo Shipyard, on 10th August. Both ships have a carrying capacity of 174,000 cu m, and are fitted with ME-GI propulsion units and full reliquefaction systems. Upon their delivery, ‘BW ENN Snow Lotus’ will go on long term charter to Chinese energy major ENN, while ‘BW Cassia’ will be handed over to bp. Awilco LNG has announced a new timecharter agreement for the ‘WilForce’. The LNGC has been chartered to an undisclosed oil major for around six months. This contract is estimated to contribute with an EBITDA of about $17 mill over the charter period, Awilco said. Earlier, the company had fixed a three, plus two year option charter commencing in December, which will be covered by the ‘WilPride’, which is trading in the spot market until her delivery. Finally, GasLog’s 2007-built, 142,100 cu m steam turbine LNGC ’Methane Shirley Elisabeth’ has been sold to Indonesian interests for $54 mill.
Cove point milestone
Cove Point has shipped its 300th cargo since it started commercial operations in April, 2018. Berkshire Hathaway subsidiary BHE GT&S, the operator of the LNG terminal located in Maryland, said it loaded the cargo at the end of July. BHE GT&S has a 25% stake in the export terminal, while Dominion Energy has 50 % and Brookfield 25%. Cove Point has a storage capacity of 14.6 bill cu ft and a daily send-out capacity of 1.8 bill cu ft. LNG is produced for ST Cove Point, a joint venture between Japan’s Sumitomo Corp and Tokyo Gas, and for India’s Gail under 20-year contracts.
‘Prelude’s’ maintenance postponed
Last week, Shell said that it will defer ‘Prelude’s’ planned maintenance work until next year. The work was due to be undertaken on the giant FLNG next month. Shell cited industrial action at the site off northwest Australia, as the reason behind the postponement. A Shell spokesperson said that the extensive maintenance work, or turnaround, would be put off until next year, with the timing depending on a range of factors, including weather conditions, contractor availability, and when the current industrial action ends. Shell shutdown the 3.6 mill tonne per year FLNG last month over a long-running pay dispute.