LNG carriers

LNG carrier for Yamal LNG Project, officially named

Mitsui O.S.K. Lines, Ltd. (MOL) informed that named another LNG vessel carrier for Russia’s Yamal LNG Project. Specifically, the vessel was named “LNG Merak”, while the naming ceremony was held at Hudong-Zhonghua Shipbuilding on 8 January, 2020.

Do you know how many types of ships exist?

There is a wide range of different vessels. The international dry cargo and tanker markets are immense and are served by numerous ships of several types and of various sizes. Some of them follow standard designs and can carry a variety of cargoes while others are more specialized and able to carry commodities which the standard vessels cannot. According to the UNCTAD, in early 2019 the total world fleet stood at 95,402 ships accounting for 1.97 billion dead-weight tons (dwt) of capacity.

LNG carrier market to face short-term benefits

The LNG carrier rates are presenting a rapid increase lately due to the northern hemisphere winter that is approaching, with the rise being supported as much as by technical factors as fundamentals. MSI supports that the sector now is between a decision-making state, which will in the future dictate the trajectory of LNG shipping for the first half of the next decade and beyond.

ABS specifies requirements for “LNG cargo ready” vessels

ABS issued guidance specifying their requirements for obtaining the class notation “LNG Cargo Ready”, to be applied to liquefied gas carriers as Ethane or Ethylene carriers, that have been designed and constructed for possible future carriage of LNG cargo. 

Six carriers deployed to Yamal LNG no longer subject to US sanctions

Six ARC7 LNG carriers transporting gas from the Yamal LNG project, under a joint venture of Teekay LNG with China LNG, are no longer classified as a “Blocked Person” under US OFAC rules, according to an official statement by Bermudas-based Teekay Corporation. 

Dynagas LNG Partners secures $675 million loan

LNG carrier operator Dynagas LNG Partners announced it has secured a $675 million syndicated loan from leading international banks. The loan will be secured by, among other things, first priority mortgages on the six LNG carriers in the partnership’s fleet.

ABS, Samsung Heavy join forces on next generation LNG carrier

ABS and South Korean shipbuilder Samsung Heavy Industries (SHI) signed on a joint development project to collaborate on a next generation LNG carrier with advanced air lubrication and smart capabilities. The agreement was signed on 17 September.

Sovcomflot, NYK Line ink on financing for two LNG carriers

Joint venture companies belonging to Russian energy shipping company Sovcomflot and Japanese NYK Line have signed a new USD 176 million non-recourse credit facility for eight years with three international banks, to be used for refinancing two ice-class LNG carriers servicing the Sakhalin-2 project. 

BW LNG conducts naming ceremony for two LNG carriers

BW LNG shipping company, part of BW Group, conducted a naming ceremony for two of its new LNG carriers on September 7. The two vessels named BW Pavilion Aranda (H2489) and BW Magnolia (H2490), were constructed by South Korea’s Daewoo Shipbuilding & Marine Engineering.

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