Nor-Shipping hires Algaard
Nor-Shipping, the annual trade fair held in Norway since 1965, said it hired Karen Algaard in the newly created position of Director of Nor-Shipping Operations and Strategy. Algaard, who moves from the shipping company Höegh LNG where she was Head of Contract Management and Controlling, will now work alongside Per Martin Tanggaard, who assumes the title of Director Nor-Shipping External Relations. “The move allows Tanggaard to focus on building Nor-Shipping’s standing and influence within the marketplace, while Algaard takes on both long-term strategic planning and day-to-day business management,” said the trade fair company. Nor-Shipping will take place in 2020 on June 1-4.
Santos-Korea assets deal
Australian LNG operator and shareholder in Darwin LNG and Papua New Guinea LNG plans to sell 25 percent in Darwin LNG and in the BayuUndan gas field in the Timor Sea to South Korean energy company and utility, SK E&S for US$390 million. The deal is conditional on the Australian oil and gas producer’s US$1.39 billion purchase of ConocoPhillip’s northern Australia business.
LNG ship rates steady
Shipping charter rates for LNG carriers in the spot market have levelled off and are little changed from a week ago. Rates were again quoted at an average of between $39,000 per day and $34,000 per day West of Suez and $38,000 per day and $33,000 per day East of Suez for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers. One-year time charters have dropped for vessels of between 155,000-160,000 cubic metres capacity and are now seen at around $55,000 per day.