LNG

Daewoo Shipbuilding & Marine Engineering (DSME) has awarded TMC Compressors (TMC) a contract to deliver marine compressed air systems to four GasLOG LNGCs currently under construction.

Russian shipping line SCF Group and a Russian financial institution signed an agreement for lease-financing of the first ship in a series of ice-breaking liquefied natural gas carriers expected to be built to serve the Arctic LNG II project in northern Siberia.

Flex LNG, the growing LNG shipping company with four vessels operating and nine others on order and whose largest shareholder is a company controlled by Norwegian magnate John Fredriksen, posted a rise in net profits as fourth-quarter spot LNG cargo rates reached record levels then slumped in the first quarter of 2019.

Flex LNG, the growing LNG shipping company listed on the Oslo bourse with shareholders including trusts connected to Norwegian shipping magnate John Fredriksen, is set to acquire five newbuilds at a cost of under $1 billion, partly financed with a private share placement.

July 17 (LNGJ) - South Korean shipbuilder Hyundai Heavy Industries said it received an order amounting to US$745 million to build four liquefied natural gas carriers for a Greek shipping group, according to a filing with the Korean Stock Exchange. The world's biggest shipbuilder by sales said it obtained the order to build four LNG carriers for the Greek-owned Marinakis Capital Gas Carrier Corp. The vessels are to be completed by the end of June 2021. HHI said that in the January-June period it had received orders worth $2.87 billion. Daewoo Shipbuilding and Marine Engineering, the second-largest Korean shipbuilder, said earlier in July that it received an order from Greek LNG fleet owner Maran Gas Maritime for a vessel with capacity of 173,400 cubic metres for delivery in the first half of 2021. DSME said it had received US$3.4Bln of orders for 27 vessels of all categories so far in 2018.

Bureau Veritas, the French classification society, said it issued a list of approvals to liquefied natural gas maritime storage company Gaztransport and Technigaz (GTT) for its latest containment systems and technology applications.

The South Korea government said it would develop advanced bunkering technology with two research institutes aimed at the liquefied natural gas maritime re-fueling market to increase the number of vessels the nation can supply in its ports.

Hyundai Merchant Marine Co., the largest South Korean shipping line, said it would place an order by June for 20 container ships worth around $2.8 billion with the country’s major shipbuilders for vessels having exhaust-cleaning technology or LNG fuel capability.

South Korea will place orders for about 200 vessels in the next three years to help its shipping and shipbuilding industries suffering from a slump in global demand and losses that forced restructuring at the largest companies.

South Korean President Moon Jae-In has given a speech at the Geoje shipyard complex of Daewoo Shipbuilding & Marine Engineering, pledging to keep the nation’s strategic LNG shipbuilding sector at the cutting-edge of technology and backed by more use of LNG fuel.