In this issue

 

Thursday, 02 March 2017
Daewoo Shipbuilding & Marine Engineering (DSME) has confirmed that it has won a patent case in China, which is related to its core technology for LNG-fuelled ships. 
Thursday, 02 March 2017
By 2020, the size of global LNG trade is projected to grow by 50%, compared to volumes recorded in 2014. 
Thursday, 02 March 2017
Golar LNG Limited has reported a net income improvement from a loss of $23.9 mill in third quarter of last year to a loss of $13.7 mill in the fourth…
Thursday, 02 March 2017
Flex LNG raised NOK833 mill (around $100 mill) in a private placement last month. 
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…
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. 

News Nudges

Adriatic receives first Q-Flex

Qatargas has delivered the first Q-Flex LNG cargo to the Adriatic LNG receiving terminal in Italy. The Qatargas-chartered LNGC, ‘Tembek,‘ loaded at Ras Laffan on 9th June and arrived at the Adriatic LNG terminal on 21st June. This terminal is located around 14 km offshore of Porto Levante in the northern Adriatic near Rovigo. It was the world's first offshore gravity-based LNG regasification terminal. Operated by ExxonMobil (70%); Qatar Terminal Ltd (23%), a subsidiary of Qatar Petroleum; and Snam (7%), the terminal is connected to the Italian national distribution network through integrated pipelines. It has a regasification capacity of 8 bill cu m of LNG per year and it currently supplies over 10% of the country's natural gas requirements, Qatargas said.


Orders and deliveries

Hudong-Zhonghua Shipbuilding Co, part of China State Shipbuilding Corp (CSSC), is to build three LNGCs worth Yuan3.9 bill ($551.62 mill). The 174,000 cu m LNGCs will be operated by COSCO Shipping Energy Transportation (CSET), a subsidiary of COSCO Shipping. They will be deployed under a 20-year charter to PetroChina. The three vessels are expected to be delivered between the end of 2022 and early 2023, a spokesperson at Hudong-Zhonghua told Reuters. They will be fitted with X-DF propulsion units and membrane type containment systems. Liu Hanbo, CSET Chairman, told Reuters that the construction of the new LNGCs is in response to the government’s call to expand domestic demand and to safeguard China’s energy security. Elsewhere, Norwegian shipowner Knutsen OAS has taken delivery of a newbuild LNGC from Hyundai Heavy Industries (HHI). The 180,000 cu m ’Traiano Knutsen’ has begun her long term charter with Enel upon her delivery. Knutsen has another four 174,000 cu m LNGCs on order with HHI, all of which are scheduled for delivery next year, as well as an 30,000 cu m LNGC at Hyundai Mipo also for delivery in 2021.


Sonatrach extends Total deal

Algerian state energy company Sonatrach has signed a deal with Total to continue the supply of 2 mill tonnes a year of LNG to France for another three years. Relations between Sonatrach and Total had deteriorated after Algeria blocked the sale of Anadarko assets to the French company, energy sources had told Reuters.


Korea Lines spins off LNGC segment

Korea Lines has reportedly completed its planned spin-off of its LNG shipping business into a separate entity. A new company — Korea LNG Shipping — now owns 11 LNGCs, all of which are under term charters with South Korean state-controlled importer Kogas. Four of these vessels are owned in a consortium. Korea LNG Shipping is also due to take delivery of another two LNGCs from Hyundai Samho Heavy Industries (HSHI) in 2022.


Tianjin tops LNG imports in China

North China's Tianjin came top in the list of the country’s LNG import ports for the first five months of this year. Tianjin accounted for about 19.5% of the country's total LNG imports, according to the Tianjin Customs, reported Xinhua. From January to May, LNG imports through the port increased 24.8% year-on-year to hit 4.97 mill tonnes as LNG prices kept falling. Tianjin LNG imports during the period mainly came from Australia, Russia and Southeast Asia, which added up to 75.4% of the port's total LNG imports.