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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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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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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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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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