BP says Senegal and Mauritania floating LNG project advances as FPSO is moved into place to supply feed gas
UK major BP said the floating production storage and offloading (FPSO) vessel, a key component of the floating LNG development on the maritime border of Senegal and Mauritania in West Africa, has arrived at its final location.
Stolt-Nielsen profits up
April 10 (LNGJ) - Stolt-Nielsen Ltd, the Oslo-listed and London-based owner of a small tanker fleet including for LNG through its stake in Avenir LNG as well as terminals and other shipping interests, reported first-quarter net profits of $104.0 million, up from $99.8M in the same three months of 2023.
Stolt-Nielsen’s earnings per share in the first quarter amounted to $1.94, up from $1.86. Stolt Tankers reported operating profits of $93M, an increase from $87.1M last year. Stolt-Nielsen Gas, including LNG assets, narrowed its operating losses to $2.0M from $3.4M in the 2023 quarter. “The firm market conditions enjoyed by Stolt Tankers during 2023 continued into the first quarter,” said Udo Lange, Chief Executive. “Spot rates continued to strengthen and we should start seeing the effect in the second quarter onwards. That said, we have seen some contract volumes decline as our customers adjust to the impact of supply chain disruptions,” he added.
Golar LNG reports solid earnings as more projects like Cameroon and Senegal FLNG are contemplated
Golar LNG Ltd, the shipping company with a small but growing fleet of floating liquefied natural gas production and import project vessels including the “Hilli Episeyo” offshore Cameroon and the “FLNG Gimi” that sailed from Singapore to start a 20-year contract for BP offshore Mauritania and Senegal, posted a 35 percent fall in third-quarter profits on lower prices while revenues remained stable.
Seatrium of Singapore delivers floating LNG production vessel to BP-led project offshore Mauritania and Senegal
Seatrium Group of Singapore, formerly called Sembcorp Marine Ltd and renamed as Seatrium following its merger with Keppel Offshore & Marine, has successfully delivered the converted floating LNG production vessel for the BP-led FLNG project offshore Mauritania and Senegal.
Norwegian LNG carrier owner Awilco swings back to profit and gives positive view of current shipping market
Awilco LNG, the small Norwegian-based shipping provider with two vessels, managed to swing back to profit in the third quarter as the ships returned from dry dock and said that overall LNG shipping market rates were still at healthy levels though vessels may soon be used for storing LNG with land-based facilities full in the European Union.
Golar LNG Ltd reports 100th cargo lifted from ‘Hilli Episeyo’ offshore West African nation of Cameroon
Golar LNG Ltd, the shipping company now specialising in a small but growing fleet of floating liquefied natural gas production and import project vessels, said the “Hilli Episeyo” had seen its 100th cargo lifted from offshore Cameroon in West Africa.
Avenir LNG joint venture firm places three LNG bunkering vessels with Wilhelmsen Ship Management
Avenir LNG, the London-headquartered global energy supplier for small-scale projects and gas carriers, has awarded the management of three LNG bunker vessels to Wilhelmsen Ship Management of Norway.
Terminals and tankers owner Stolt-Nielsen sees profits hit by historic shipping fire court ruling in US
Stolt-Nielsen Ltd, the Oslo-listed and London-based owner of a small tanker fleet including for LNG through its stake in Avenir LNG, reported a second-quarter net profit of $113.3 million before an incremental loss provision of $155M related to the “MSC Flaminia” fire back in 2012.
Golar LNG seeking to develop multiple LNG production projects in Nigeria and elsewhere amid quarterly loss
Golar LNG Ltd, the shipping company now specialising in a small but growing fleet of floating LNG project vessels, reported first-quarter net losses as it maintained “strong engagement with prospective FLNG” clients, including signing an accord with Nigeria National Petroleum Corp. (NNPC) for offshore liquefaction projects.
LNG shipping company CoolCo says charter market showing strength as another vessel signed to major
Cool Company (CoolCo), the LNG shipping joint venture led by Eastern Pacific Shipping and which is growing its owned and managed fleets, said the market was showing continued strength as it entered into a new time-charter agreement for one of its tri-fuel, diesel-electric vessels.
The company, headquartered in Bermuda, said the multi-year charter with an energy major starts in early 2024 upon redelivery from the vessel’s current charter, adding backlog.
“We are delighted to have secured this attractive time charter, locking in cover at a rate that reflects the continued strength of the LNG carrier market ” said Richard Tyrrell, Chief Executive of CoolCo.
“The forward nature of this contract demonstrates the desire of LNG producers, offtakers, and portfolio players to secure modern tonnage to transport the dramatically increasing volumes of LNG coming online through the middle and latter parts of the decade,” stated Tyrrell.
“With vessel availability coinciding with seasonal peaks for chartering, CoolCo stands to benefit from the ongoing LNG carrier re-pricing cycle. Happy Norwegian Constitution Day to our investors,” added the CEO.
Shares
CoolCo’s shares are registered with the US Security and Exchange Commission and listed for trading on the New York Stock Exchange in addition to the Euronext Growth list in Oslo, both under the ticker “CLCO”.
CoolCo also has an owned fleet of 11 LNG vessels and a managed fleet of 18 ships.
The owners of the managed ships include sector leaders Golar LNG, Avenir LNG and New Fortress Energy.
The CoolCo-owned fleet comprises the following vessels: the “Golar Bear” the “Golar Crystal”, the “Golar Frost”, the “Golar Glacier”, the “Golar Ice”, the “Golar Kelvin”, the “Golar Snow”, the “Kool Baltic”, the “Kool Boreas” and the “Kool Firn” and the “Kool Orca”
