In this issue


GasLog Partners has revealed that revenues, profit, adjusted profit and EBITDA for the second quarter of this year were of $91.8 mill, $19.1 mill, $27.8 mill and $67.5 mill, respectively.
GasLog Ltd suffered a loss of $10.5 mill for the quarter ended 30th June, 2019, compared with a profit of $14.2 mill for 2Q18.
Free ReadPAO NOVATEK’s Arc7 LNGC ‘Vladimir Rusanov’ completed a record Northern Sea Route (NSR) passage from Sabetta to Tianjin in a laden condition. ‘Vladimir Rusanov’ transited the ice-covered part of the…
Thursday, 08 August 2019
LNG tank containment system designer Gaztransport & Technigaz (GTT) has reported revenues of €122.6 mill and an EBITDA of €70.9 mill for the first half of this year.
Thursday, 08 August 2019
A letter of Intent has been signed by Australian gas ship developer Global Energy Ventures (GEV) to build up to four compressed natural Gas CNG Optimum type 200 at Yantai…
Free ReadJapan could lose its pole position as the world’s top LNG importer to China as early as 2022. By then, LNG imports in Japan are expected to decline 12% to…
Thursday, 25 July 2019
Three joint venture companies have been selected by Cyprus in the first stage of a tender to provide an FSRU to import LNG at Vassiliko Bay.
Italian oil major Eni, PetroChina and two trading houses are locked in battle to supply LNG to Pakistan in one of the largest tenders yet seen, worth billions of dollars.
Free ReadHöegh LNG Holdings has signed a short term LNGC timecharter with Cheniere Marketing International for its newbuilding FSRU ‘Höegh Galleon’. The timecharter commences in September, 2019 after her delivery from…
Thursday, 25 July 2019
Although behind schedule, Elba Liquefaction Company (ELC) is in advanced stages of commissioning and start up.
Thursday, 25 July 2019
Tellurian has entered into definitive agreements with Total Delaware, Inc (Total) and Total Gas & Power North America, Inc (Total Gas & Power) for the latter to purchase 1 mill…
On 18th July, Mitsui OSK Lines, Ltd. (MOL) held a naming ceremony for its third and final icebreaking Arc7 LNGC. 
Free ReadRussian oil and gas producer, PAO NOVATEK has announced that preliminary second quarter 2019 natural gas sales volumes, including volumes of LNG sold, totalled 18.74 bill cu m. This represents…
Affinity (Shipping) has organised the first LNG freight swap settled against the Baltic Exchange LNG spot assessments.

News Nudges

NYK to build heavy-lift ships

NYK Bulk & Projects Carriers (NBP) has signed a contract with China Merchants Group subsidiary, Nanjing Jinling Shipyard to build two heavy-lift vessels, which will be marketed to transport LNG plant equipment worldwide. Each vessel will be equipped with 2 x 400 tonne capacity cranes, which can be twinned to give a 800 tonne lifting capacity. The vessels will be fitted with one hatch and one open-hatch hold. The on-deck length will be about 110 m, and the in-hold length will be about a maximum of 95 m. To accommodate bulk cargo, the ‘tween deck will be able to be used by a simple bulkhead fitted in the hold. The vessels will not have hatch covers, which will allow for navigation with the hatch cover open. The ‘tween deck will be the adjustable / removable type that can be changed to two levels, depending on the cargo handled. They are scheduled for delivery in August 2021 and January 2022. The heavy cargo ship market has been sluggish since the collapse of Lehman Brothers in 2008, but NBP said that demand for LNG plant cargo movements had increased.

HHI wins another LNGC order

Hyundai Heavy Industries (HHI) has secured another order to build a LNGC. Placed by an undisclosed shipowner from Oceania, the order is valued at KRW228.9 bill ($188.8 mill), HHI said in a stock exchange filing on 2nd September. The 174,000 cu m LNGC is scheduled to be delivered by the end of January, 2022.

LNGC to FSRU to power plant?

Brokers have reported that KARMOL, a joint venture between Karadeniz Holdings and MOL, to build floating power plants (powerships), has bought the 1991-built 125,660 cu m LNGC ‘Northwest Shearwater’. She is probably earmarked for conversion to an FSRU for a Mozambique powership project awarded to KARMOL.

NYK charters fourth LNGC to Total

NYK has signed another new long-term contract with Total Gas & Power Chartering Limited (TGPCL), a subsidiary of Total, to charter a 174,000 cu m newbuilding LNGC to be built by Samsung Heavy Industries for delivery in 2021. The LNGC will be equipped with a WinGD X-DF dual-fuel slow-speed diesel engine that is claimed to have superior fuel-consumption efficiency and can operate on marine gas oil or boil-off gas. She will also feature a re-liquefaction system that can use surplus boil-off gas effectively and a GTT Mark III Flex membrane containment system. Last year, NYK concluded timecharter contracts with Total for three LNGCs.

FERC positive on Sabine Pass expansion plans

Cheniere’s Sabine Pass LNG has received a positive environmental assessment from the US Federal Energy Regulatory Commission (FERC) for to expand the marine berths at its LNG export terminal in Louisiana. If the project goes ahead, it should allow the addition of 180 LNG cargoes annually, increasing the total up to 580 cargoes per year. In the 23rd August environmental assessment, FERC determined that the commission's approval of the third berth expansion project would not have major environmental impacts, as long as the developer complies with recommended construction and mitigation measures. The new berth will be at the existing Sabine Pass LNG terminal in Cameron Parish, Lousiana. The project would also include an LNG loading system. The terminal currently has a single marine basin with two vessel berths, each capable of handling LNGCs of up to 266,000 cu m both for import and export operations. Sabine Pass LNG said in a presentation that the reason for needing a new berth is to accommodate an increasing number of LNGCs arriving at the terminal. The expansion would help minimise delays caused by adverse weather or shipping traffic in the area and would also allow for LNG production optimisation by removing bottlenecks associated with LNG loading and marine constraints.

Höegh LNG’s last FSRU delivered and financed

Höegh LNG’s 10th and last FSRU in the current newbuilding programme, ‘Hoegh Galleon’ was delivered by Samsung on 27th August. The 170,000 cu m capacity unit was due to start an interim 18-month charter with Cheniere Marketing International before she commences a long term project as an FSRU for AIE at Port Kembla, at the end of 2020. She has a regas capacity of 750 mill cu ft per day and is fitted with a GTT Mark III membrane containment system and a TFDE propulsion system. Watson Farley & Williams (WfW) advised Höegh LNG on its first sale and leaseback deal with China Construction Bank Financial Leasing (CCBFL) involving the ‘Hoegh Galleon’, which was taken back on charter by Höegh for 12 years. Following the completion of this transaction, Höegh LNG is now fully funded with both equity and debt for its current newbuilding programme, the company said. Höegh LNG, the only FSRU operator with operations in China through its contract with energy giant CNOOC, has also to set up a representative office in Shanghai, as part of its expansion plans in that country. The WFW London team advising Höegh LNG was led by Partner and Global Maritime Sector Head, Lindsey Keeble, supported by Senior Associate, Kate Silverstein and Associate, Parit Patani.