In this issue


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. 

Thursday, 16 February 2017

Thomas Thorkildsen has joined Flex LNG as Senior Vice President, Business Development. 

Thursday, 16 February 2017

GasLog Ltd has completed the purchase of a 20% shareholding in Gastrade. 

Qatar Petroleum (QP), Total, Mitsubishi, ExxonMobil, and Höegh LNG have confirmed their commitment to further an LNG import project in Pakistan. 

Thursday, 16 February 2017

GasLog Ltd and GasLog Partners have appointed Alastair Maxwell as CFO, effective immediately following the 20-F filings for GasLog and the Partnership, anticipated to be in early March, 2017.

Thursday, 16 February 2017

During the last 10 years, the Russian Maritime Register of Shipping (RS) has been continuously developing its competence in LNGCs, it claimed. 

Thursday, 16 February 2017

Shell Eastern Petroleum and Pavilion Gas are to start supplying LNG to Singapore later this year under contracts awarded in 2016. 

News Nudges

Applications to export US LNG

The US Department of Energy (DoE) has received two applications to export LNG. One application was received from Freeport LNG Development for authorisation to export previously imported LNG on a short-term basis. The second application concerned Dominion Cove Point LNG, who asked for authorisation to export previously imported LNG on a short-term basis. Comments must be received by 12th May, the DoE said.

Three elderly LNGCs sold

Broking sources have reported the sale of 1978-1979- built LNGCs ‘LNG Leo’, ‘LNG Gemini’ and ‘LNG Virgo’, to Sinokor. They are of 126,750 cu m capacity and are fitted with GE turbines. No price indication was given.

Höegh takes delivery of another FSRU

Höegh LNG took delivery of its latest FSRU newbuilding, the 170,000 cu m ’Höegh Giant’, on 27th April. The FSRU was built by the South Korean shipbuilder, Hyundai Heavy Industries and will be moored at the Tema LNG Project in Ghana under a 20-year charter contract with Quantum Power (QP), who also has a further five year option period. Start-up is expected in the middle of next year. Höegh LNG has three more FSRUs under construction, which are scheduled for delivery in the first and fourth quarters of 2018, and the second quarter of 2019, respectively. “We have 10 FSRUs in operation or under construction, and intend to continue growing by winning more contracts and adding to our newbuilding programme, while seamlessly starting up commercial operations in new locations. Our ambition is to remain the market leader in the FSRU industry,” Sveinung Støhle, President and CEO, said.

GasLog extends charter - drops down another LNGC

On 28th April, 2017, GasLog signed an amendment to the ‘GasLog Skagen’ seasonal timecharter agreement, by which the seasonal charter was replaced by a continuous timecharter for 2.4 years, due to end in August, 2019. The amended charter will cover the same number of fixed days as the previous seasonal charter and will eliminate redelivery risks at the beginning and end of each seasonal period. In addition, the amended charter will provide assurance of revenue through August, 2019. In addition, GasLog has confirmed that GasLog Partners has completed the acquisition of 100% of the shares in the entity that owns and charters the 174,000 cu m, tri-fuel LNGC ‘GasLog Greece’. She has been operated by GasLog since her delivery in 2016 and is currently on a long-term timecharter with a wholly owned subsidiary of Royal Dutch Shell through March, 2026. Shell has the option to extend this charter by an additional five years.