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Höegh LNG has exercised an option for a new FSRU to be built at Hyundai Heavy Industries Ltd.

The FSRU will be delivered in the second quarter of 2014 Höegh LNG has, pursuant to a successful private placement, today exercised an option for a new FSRU to be built at Hyundai Heavy Industries Ltd. in Korea.The FSRU will be delivered in the second quarter of 2014, and its specifications will be adapted to comply with relevant project requirements.Höegh LNG's President and CEO, Sveinung Støhle, says in a comment:"With our two FSRUs on order allocated to specific projects in Indonesia and Lithuania, the Company continues focusing its growth plans at the floating regasification market, and is currently participating in several tender processes for additional FSRU projects. We have therefore decided to place an order for a third FSRU to be built at Hyundai. Our strategy to expand in the floating regasification market worldwide remains firm and we believe in strong continued growth in this segment."LNG FSRUs receive liquefied natural gas from offloading LNG carriers. The installed regasification system provides gas send-out through flexible risers and pipelines to shore.Raised USD 200 MillionThe company today also announced that it has raised NOK 1,200 million (ca USD 200 million equivalent) in gross proceeds through a private placement of 22,641,509 new shares, each ...

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Oman Shipping Company . took delivery of VLCC the DABA at HHI

DABA is a 317,000 DWT VLCC Oman Shipping Company S.A.O.C. (OSC) took delivery of oneof their latest Very Large Crude Carrier (VLCC) the DABA, at Hyundai HeavyIndustries co. Ltd's (HHI) Yard in Ulsan, South Korea on 6th Jan 2012.DABA has a 317,000 deadweight ton (DWT) capacity, is 333meters length overall, 60 meter in beam and a design draft of 21 meters. This is OSC's third VLCC delivery, out of anorder of five, from HHI, and is the Company's 11th out of a future fleet of 17VLCCs. DABA is going to be operated inthe VL8 Pool, managed by NAVIG8, of which OSC is Shareholder. With this, OSCwill have 6 vessels in VL8 Pool.International Tanker Management (ITM), in Dubai, will technically managethe vessel.Since commercial operations began in 2003, OSC now has afleet of 30 vessels, and an order book of 11 vessels to be delivered betweennow and 2013. The DWT capacity of thecurrent fleet is around 4.6 million DWT, increasing to around 8 million DWTonce the order book is delivered.Oman Shipping Company S.A.O.C. is a closed joint stockcompany, incorporated in 2003 and owned by the Government of the Sultanate ofOman through the Ministry of Finance (80%) and Oman Oil Company S.A.O.C.(20%). Headquartered ...

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Full Scrubber System Ordered For VLGC

Hamworthy Krystallon signs contract with HHI Hamworthy Krystallon, the leading marine scrubbing technology manufacturer, signed a significant contract with Hyundai Heavy Industries (HHI), the worldʼs biggest shipyard. The contract will see Hamworthy Krystallon deliver a scrubber system on a Liquified Petroleum Gas tanker being constructed for Solvang ASA. The 84.000 cubic meter (cbm) VLGC will have the worldʼs first full vessel scrubber system.The newbuild vessel will be fitted with two scrubbers; one for the main engine and one combined scrubber for three auxiliary engines. The scrubbers and washwater treatment will be situated in the funnel, in a modular design. This concept can readily be applied to similar vessels such as tankers, demonstrating that seawater scrubbers can help ship owners comply with upcoming regulations, irrespective of vessel type and size.It is the first commercial contract for a full vessel system, allowing the vessel to operate whilst burning only heavy fuel oil. The newbuild vessel has been designed to take into account all aspects of energy efficiency and environmental performance, using Solvangʼs and HHIʼs extensive experience. The drive for energy efficiency will also see the vessel fitted with a next generation Hamworthy Cargo Handling system, which will ensure lower energy consumption and ...

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Hyundai Heavy Develops its own FLNG Model

Liquefied Natural Gas (LNG) has emerged as an increasingly important clean energy source Liquefied Natural Gas (LNG) has emerged as an increasingly important clean energy source, particularly following the devastating earthquake and tsunami that struck Japan and triggered one of the world's worst nuclear disasters.With the increasing demand for LNG, it has become more attractive to oil and gas majors to develop "stranded gas" in offshore fields. With this in mind, Korea's Hyundai Heavy Industries, working with German industrial gas and engineering firm Linde AG, has completed developing its own Hyundai FLNG (Floating Liquefied Natural Gas Plant) concept.The FLNG concept is a special floating vessel that can produce natural gas, liquefy it, and offload it directly to an LNG carrier. HHI conducted risk and safety evaluations of the FLNG and received approval-in-principle from classification society DNV. HHI says the Hyundai FLNG takes 25% less time to build compared to the onshore liquefaction and storage plant, making it an attractive option for oil majors and global shipping companies looking to commercialize stranded gas in offshore fields.The Hyundai FLNG has an annual production capacity of 2.5 million tons of LNG and can store about 193,800 m3 LNG with its compact size of ...

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Hyundai Heavy Wins USD 530 million Drillship Order

To build a new deepwater drillships for Noble Drilling Holding Hyundai Heavy Industries, the world's biggest shipyard, today clinched a USD 530 million order to build a new deepwater drillships for Noble Drilling Holding, a leading offshore drilling contractor for the oil and gas industry. The order is the second of two options Noble Drilling Holding exercised from the contract the company signed with Hyundai Heavy this January. The order was for two drillships with two options for two more of the same class. The 10th drillship Hyundai Heavy won this year, measuring 229m in length and 36m in width with a maximum drilling depth of 12km from the surface of sea, is scheduled to be delivered by the end of 2014. "Drillships Hyundai Heavy builds presents a variety of technical advantages including optimized ship design and the world's deepest drilling capacity," said Mr. David Williams, Chairman of Noble Drilling Holding. Hyundai Heavy has won orders for 10 drillships this year, the most of any shipbuilder.Chairman of Noble Drilling Holding Mr. David Williams and Senior Executive Vice President & CEO of Hyundai Heavy Mr. Kim Oi-HyunSource: Hyundai Heavy Industries

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Hyundai Heavy wins USD 400 million LNG Carrier order

To build two 155,000 cbm LNG carriers for Singapore-based BW Maritime. Hyundai Heavy Industries, the world's biggest shipbuilder, won an USD 400 million order to build two 155,000 cbm LNG carriers for Singapore-based BW Maritime.Mr. Kim Oi-hyun, senior executive vice president and CEO of Hyundai Heavy and Mr. Clarence Lui, BW Maritime CFO & executive vice president, signed the contract that also includes an option to build two same class LNG ships.These membrane-type LNG carriers, measuring 228 m in length, 44.2 m in width and 26 m in depth, are due for delivery in the second half of 2014 and the first half of 2015. The ships for liquefied natural gas feature the Dual Fuel Diesel Engine System (DFDE) which allows the ship to run both on oil fuel or natural gas.Hyundai Heavy has been taking the lead in developing technologies for LNG carriers such as building Korea's first LNG ship in 1996, Korea's first DFDE-type LNG carriers in 2007, and the world's first new LNG-floating storage regasification unit in June 2011. Moreover, Hyundai Heavy has been developing a special welding system that can work on the thick aluminum plates used for the LNG tanks since 2010.The Ulsan, South-Korea based ...

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Dynagas returnes to Hyundai Heavy Industries for two more LNG carriers

The vessels are due for delivery in 2014 Greek owned Dynagas has returned to Hyundai Heavy Industries (HHI) for two more LNG carriers.Dynagas has inks contracts for two additional 155,000 cu m LNG carriers, on top of a pair ordered at HHI in May. The vessels are due for delivery in 2014 and comprise one option from the previous order and an additional new order.Pricing is reported to be similar to the $200m each paid for the previous pair.Source: Seatrade Asia

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Hyundai Heavy gets $1.12 billion drillship order from Rowan Companies

Order to build two drillships Hyundai Heavy Industries says that it has won a $1.12 billion order to build two drillships for drilling contractor Rowan Companies Inc.The contract, signed yesterday by Mr. Kim Oi-hyun, senior executive vice president & CEO of Hyundai Heavy and Mr. W. Matt Ralls, president of Rowan Companies Inc. also includes an option exercisable by Rowan to order an additional same class drillship.The vessels, measuring 229 meters in length and 36 meters in width, are rated for operations in water 12,000 ft (3,657 m) deep. They are scheduled to be delivered by the second half of 2013.Winning this order brings Hyundai Heavy's total drillship new orders this year to 9, worth USD 5 billion with options to build three more drillships. This is the largest drillship orderbook of any shipbuilder in the world.The drillships will be equipped with a thruster canister..Hyundai Heavy drillships are based on the Gusto P10000 design.Source: Marinelog

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