By Kyunghee Park, Anna Shiryaevskaya and Chou Hui Hong
July 8 (Bloomberg) — Daewoo Shipbuilding & Marine Engineering Co. won an order valued at as much as $2.8 billion for nine ice-class vessels that will haul gas from the Yamal LNG project in Russia, according to people familiar with the matter.
Mitsui O.S.K. Lines Ltd. of Japan will buy and operate three of the ships, according to the four people, who asked not to be identified because the order hasn’t been announced.
The liquefied natural gas project is on an Ob River estuary, which is iced over for nine months of the year, according to the website of Total SA, one of the venture’s partners. OAO Novatek, the Tarko-Sale, Russia-based company that’s the main partner in Yamal LNG, has said the venture plans to supply both Asian and European markets.
Daewoo Shipbuilding, the world’s second-largest ship builder, declined to comment in an e-mailed response. Mitsui OSK’s spokesman Atsushi Seki also declined to comment.
The latest order is in addition to a contract, valued at about $300 million, signed in March with Russia’s shipping company OAO Sovcomflot for one LNG ship for the Yamal project.
The project has contracted almost all of its planned output, and will sell the fuel to its three shareholders, as well as to Gazprom Marketing & Trading and Spain’s Gas Natural SDG SA. China National Petroleum Corp. is one of the three shareholders in Yamal LNG, which is scheduled to start exports in 2017.
U.S. shipbuilder Philly Shipyard, Inc. and HD Hyundai Heavy Industries Co., Ltd. (HHI), South Korea’s largest shipbuilding group, have signed a Memorandum of Understanding (MOU) to explore opportunities for collaboration...
SINGAPORE, April 24 (Reuters) – Demand for liquefied natural gas (LNG) to power ships will rise this year on attractive prices, while more dual-fuel vessels join the global fleet, industry executives said....
Malaysia’s MISC Berhad, through its tanker subsidiary AET, has signed contracts for the world’s first two ammonia dual-fuel Aframaxes. The deal includes Time Charter Party Contracts (TCP) with PETCO Trading...
April 22, 2024
Total Views: 855
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.