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  1. Stena Bulk buys three ultra-modern LNG tankers for $700MM

    Source: Stena Bulk Stena Bulk is on the offensive again – this time in the transportation liquid natural gas.  The company has purchased three LNG (Liquefied Natural Gas) tankers from the Taiwan-based shipping company TMT for a total of US $700 million, approx. SEK 4.5 billion.  The three LNG tankers are the “Stena Blue Sky” (145,000 cubic metres), which was built in 2006, and the two newly built tankers “Stena Clear Sky” and “ Stena Crystal Sky”, each 174,000 cubic metres. The three tankers are all ultramodern and ice classed. The “Stena Blue Sky” is currently chartered by Russian Gazprom with 22 months remaining on its contract.  “We believe this to be a very good investment. LNG accounts for a significant part of the growth in the global energy supply and there is currently a shortage of LNG tankers. Consequently, we expect the two newly built vessels to directly command freight rates in excess of USD 100,000 per day”, says Ulf G. Ryder, President and CEO of Stena Bulk.  Capacity utilisation of the 320 or so large LNG tankers in operation is currently nearly 90 percent. In addition, the demand for transportation of liquid natural gas is expected to rise about 8 percent per year over the next ten years.  Excellent starting point  “In addition to the shipyards’ full order books, there is a need for 60-70 new LNG tankers to satisfy the rising demand up until 2014. LNG tankers are more capital intensive than normal tankers and are about three times as expensive. It takes nearly four times longer to build a LNG tanker than a normal tanker of the same size. Because of this and the more complicated operation of an LNG tanker, there are few players active in the segment”, says Ulf G. Ryder. He adds:  “Having in this situation the liquidity and operational know-how to be able to purchase these three vessels so quickly, two of which are so new that they have not even been delivered from the shipyard yet, gives our LNG investment an excellent starting point." Stena Bulk expects the two newly built vessels to be delivered from the shipyard already in June. They will then be fitted out with supplementary equipment and manned with new crews after which they will be ready to load their first cargo of liquid natural gas at the end of July.

    Online Articles

    Online Articles

    Tue, 24 May 2011

  2. Dalian chooses GE drive and automation for LNG Tanker project

    Dalian Shipyard’s shipbuilding and repair facilities will build next-generation LNG tankers and container vessels, using GE Power Conversion to supply the complete drive and automation system for Goliath Crane.

    Online Articles

    Online Articles

    Tue, 28 May 2013

  3. Hyundai Heavy to build Dynagas two new LNG tanker for $600MM

    Greece LNG shipping firm Dynagas has contracted Hyundai Heavy Industries to build two new 155,000 m3 LNG tankers for $600 million.

    Online Articles

    Online Articles

    Tue, 31 May 2011

  4. Tractebel orders second LNG tanker for US service

    Tractebel North America Inc. is betting the US liquefied natural gas (LNG) market will continue to increase as natural gas prices settle into a new higher range. Tractebel, the energy arm of French company Suez Group (formerly Suez Lyonnaise des Eaux), announced Friday a long-term charter agreement ...

    Online Articles

    Online Articles

    Fri, 1 Jun 2001

  1. ExxonMobil, Mitsui tap China State Shipbuilding for four new LNG tankers

    Online Articles

    Online Articles

    Mon, 17 Jan 2011

  2. RasGas delivers first LNG cargo to Italy’s Toscana FSRU

    RasGas Co. Ltd. delivered its first LNG cargo on Aug. 23 via the Al Thakhira LNG tanker to the Toscana floating storage regasification unit (FSRU) offshore Italy.

    Online Articles

    Online Articles

    Thu, 25 Aug 2016

  3. First order for new Damen shiprepair yard

    It is the first vessel is booked under the new management and comes in the second week after the acquisition of the former Sobrena Yard in Brest.

    Online Articles

    Online Articles

    Mon, 16 Apr 2012

  4. Handle With Care

    Compared to a decade ago, pipeline natural gas is being delivered with more variable heating values and a greater tendency to form damaging hydrocarbon liquids.

    Magazine Articles

    Magazine Articles

    Tue, 1 Nov 2005

  5. Terminal Fever

    Liquefied natural gas (LNG) has long played a bit part in the North American natural gas supply picture. While it's too early to say it will become a star attraction, its time on stage is certainly destined to increase.

    Magazine Articles

    Magazine Articles

    Tue, 1 May 2001

  6. Texas LNG begins FERC pre-filing process for Brownsville LNG project

    On March 9, Texas LNG Brownsville LLC became the first LNG export facility proposed for the Brownsville, Texas, area to initiate the US Federal Energy Regulatory Commission pre-filing process, kicking off the regulatory review for the proposed liquefied natural gas (LNG) export facility in ...

    Online Articles

    Online Articles

    Mon, 16 Mar 2015

  7. Texas LNG files with FERC for liquefied natural gas project expansion

    Texas LNG has amended its agreement with the Port of Brownsville to upgrade its site to a 625-acre location closer to the mouth of the Gulf of Mexico. 

    Online Articles

    Online Articles

    Thu, 12 Mar 2015

  8. ABS gives approval in principle to Jensen Maritime LNG vessel design

    The American Bureau of Shipping has given “approval in principle” to the Jensen Maritime LNG bunkering articulated tug-barge design.

    Online Articles

    Online Articles

    Tue, 28 Jul 2015

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