LNG

Höegh LNG, the Norwegian LNG fleet owner and floating terminal projects company with vessel contracts for China and India, said it planned to merge with funds managed by Morgan Stanley Infrastructure Partners in the latest carrier shipping fleet to be targeted by Wall Street banking interests.

Feb 9 (LNGJ) - Höegh LNG reached an agreement with global commodities firm Trafigura for an extension of the existing interim LNG carrier time charter for the “Höegh Gannet” vessel by 12 months and entered into a new interim time charter for the “Höegh Gallant” for 12 months from the redelivery from its current charter at the end of March 2021. The Norwegian company had a further charter to report in an agreement reached with Cheniere Energy of the US to extend the existing interim charter for the “Höegh Galleon”.

   “The rates for the above-mentioned time charters are consistent with the term market rates for trifuel-diesel-electric LNGCs and modestly above those achieved for ‘Höegh Gallant’ and ‘Höegh Gannet’ in 2020,” said Höegh. The three time charters include extension options for the charterers which can result in back-to-back employment with potential new FSRU awards,” it added.

Hoegh LNG, the Norwegian fleet owner and floating import project developer, reported rising profits as it advanced with projects to supply two Australian states with natural gas, while focusing on China and listing more than a dozen other countries likely to deploy floating storage and regasification units as terminals.

Norwegian fleet owner Hoegh LNG said it had taken delivery of the “Hoegh Gannet”, its ninth floating storage and regasification unit (FSRU), and the vessel would be chartered as a conventional carrier until a long-term import project is found.

Dec 3 (LNGJ) - Hoegh LNG Holdings named Havard Furu as its new Chief Financial Officer, effective from March 2019. The interim CFO, Steffen Foreid, will step down from March while continuing his role as Chief Executive and CFO of the US unit, Hoegh LNG Partners. New CFO Furu occupied the same role at law firm Wikborg Rein. Before that he was CFO in Western Bulk in the period from 2009 to 2017 and was formerly employed by BW Gas as Assistant Director Strategy and Finance. “We are very pleased to welcome Havard to the Hoegh LNG team, as he brings with him very broad financial experience covering all relevant segments of the CFO role,” said Sveinung J.S. Stohle, President and CEO of Hoegh LNG.

Hoegh LNG Holdings, the Norwegian fleet operator, said its floating storage and regasification unit, the 170,000 cubic metres capacity “Hoegh Esperanza” had arrived at Tianjin port in northeast China and has started commissioning for FSRU import operations to serve the capital Beijing.

Egypt is winding down its floating storage and regasification unit contracts for LNG imports as the Arab nation’s natural gas crisis has eased with the discovery and development of new offshore gas fields in the East Mediterranean and the Nile Delta.

Hoegh LNG, one of the main LNG project companies with a growing fleet of floating storage and regasification units, has overhauled the management of its group and its US-listed affiliate as part of long-term strategy development.

Sept 5 (LNGJ) - Hoegh LNG has entered into a time charter contract with Naturgy Energy Group of Spain, formerly Gas Natural Fenosa, for its ninth floating storage and regasification unit. The 15-month time charter commences in December 2018, immediately after the delivery of the unit and a positioning voyage from Hyundai Heavy Industries in South Korea. “We are pleased to further develop our strong relationship with Naturgy, a highly reputable and ambitious LNG portfolio player and a long-time business partner of Hoegh LNG,” said Sveinung J.S. Stohle, President and Chief Executive of Hoegh. “ This charter party will cover the period from delivery until planned start-up for prospective FSRU projects, and it further demonstrates once again the premium trading qualities of our FSRUs,” stated Stohle.

Hoegh LNG, one of the main LNG project companies with a growing fleet of floating storage and regasification units has found a Chinese financing deal for a sale and lease-bank transaction for one of its FSRU newbuilds.