Tag: VLGC

A decrease in fleet growth can trigger the recovery from the second half of 2018 for VLGC owners, despite the fact that freight rates will not reach the levels seen during the bull run of 2014-15. 2017 was very challenging for VLGC shipping, because the large vessel supply pressured freight market.

Avance Gas informed that its VLGC "Passat" was involved in a minor collision with the anchored vessel "New Confidence" in the area of Pyontaek, South Korea on 31 January. The VLGC suffered some damages to its hull, but no crew or officers were reported as injured, on either ships. Furthermore, after the collision, no spill or pollution to sea or air is noted.

The VLGC will be operated under an agreed rate time charter with ten years firm duration to an oil major trading company. DryShips expects a total gross backlog associated with this time charter of up to $103.8 million.

The VLGC will be operated under an agreed rate time charter with ten years firm duration to an oil major trading company. DryShips expects a total gross backlog associated with this time charter of up to $103.8 million.

Dorian LPG, operator of very large gas carriers transporting LPG around the world, has selected ABS to develop a techno-economic analysis on compliance options for impending global sulfur cap requirements, including LPG as a marine fuel evaluation.

The steel-cutting for the first 85,000m3 very large ethane carrier, which was ordered by JHW Engineering & Contracting, took place in Dalian Shipbuilding Industry Offshore, on 15th of June. This VLEC will be delivered at the beginning of 2019, to build a maritime virtual pipeline from US to Asia across the ocean.

High scheduled deliveries and low demolition prospects will drive unwanted fleet growth of very large gas carriers (VLGC) in 2017 putting additional pressure on freight rates, according to Drewry shipping consultancy .

  BW LPG Limited announced that it has entered into ship building contracts for four Very Large Gas Carrier (VLGC) newbuildings with Daewoo Shipbuilding and Marine Engineering (DSME).  Previously reserved by DSME’s existing client, these vessels are to be delivered in the third and fourth quarters of 2016.   Speaking about these contracts, Nicholas Gleeson, CEO of BW LPG, said, “Whilst the exceptionally high rates of today are not likely to last forever, there are many years of anticipated growth in export volumes in this market, which elicits our desire to enhance our fleet and its capability. These contracts now provide us an opportunity to grow or renew our VLGC fleet in the coming years, without adding further to the new building fleet on order.” The delivered cost of these vessels, including interest and other costs, is likely to be approximately USD 290 million. The initial payments under the contracts are to be met from free cash and the revolving credit facility.  Andrew Hoare, CCO of BW LPG, further commented, “BW’s relationship with DSME has afforded this opportunity to us when it became available. We continuously strive to deliver the best LPG transportation solutions to our customers and our growing ...

  Dorian LPG announced the commencement of operations of Helios LPG Pool ("Helios LPG") on April 1st, 2015.  Helios LPG is jointly run by Dorian LPG and Phoenix Tankers Pte. Ltd ("Phoenix Tankers"), a 100% subsidiary of Mitsui OSK Lines Ltd. Helios LPG will be operated out of offices in London and Singapore. Helios LPG currently will operate eight VLGCs on the water, including four of Dorian LPG's VLGCs: Corvette, Corsair,Captain John NP and Captain Nicholas ML, of which two are ECO vessels. John Hadjipateras, Chairman of Helios LPG, commented, "With the combined management team and fleet that Dorian LPG and Phoenix Tankers have committed to the pool, we are confident that Helios LPG will offer the most flexible LPG transport solutions worldwide while also maintaining the highest standards of safety, reliability and trouble-free transportation solutions." Tetsuro Ishiura added to John Hadjipateras' comments by stating, "We are very optimistic about this partnership and the opportunities it presents. Together we have formed a first class modern ECO VLGC pool that will serve as a leader in LPG transportation worldwide." Source and Image Credit: Dorian LPGIn the starting, I was straightforward with you propecia before and after has changed my life. It has ...

On February 27, NYK concluded a time-charter contract for a new VLGC (very large gas carrier) with Astomos Energy Corporation. The new VLGC will be built by Mitsubishi Heavy Industries (MHI) and delivered in the second quarter of 2017. NYK will charter the vessel from Kyoei Tanker Co. Ltd., and from its delivery, the vessel will be assigned to a service designated in a five-year time-charter contract with Astomos. Astomos' new medium-term plan, which starts from fiscal 2015, calls for an increase in LPG handling volume from the current 10 million tons/year to 12 million tons/year by 2017. Astomos plays an important role in the LPG business field, which is expected to continue to grow, particularly as progress is made on new LNG projects in the Middle East, the United States, West Africa, and Australia. This is the 11th VLGC for Astomos, and NYK will continue to reinforce its close, long-term relationship with the energy company. Source: NYK Line / Image Credit: MHI  In the origin, I was explicit with you propecia before and after has changed my existence. It has become much more fun, and now I have to run. Just as it is incredible to sit.