VARD to Design and Build Three SOVs for Dogger Bank Wind Farm
Norwegian shipbuilder VARD has secured a contract for the design and construction of three Service Operation Vessels (SOVs) to operate at the Dogger Bank Wind Farm in the North Sea...
In a stock exchange filing today, 6 Hong Kong-based investment holding companies jointly owned by Sinopec Kantons, China Shipping Development, and Mitsui O.S.K. Lines announced a USD $1,510,000,000 new build order for six LNG carriers from Hudong-Zhonghua and China Shipbuilding.
These ships are aimed at directly supporting the movement of LNG cargoes from the Australia Pacific LNG Project, a joint venture located in Queensland, Australia between ConocoPhillips (42.5%), Origin (42.5%), and Sinopec (15%). The first two LNG trains are scheduled to come online by 2015 with exports of 9 million tons per year.
Expected delivery dates are April 2016, July 2016, November 2016, March 2017, July 2017 and November 2017 respectively.
Vessel particulars were not specifically mentioned in the filing however, the pricing figures for the ships were determined by referencing the market price of new build vessels between 160 and 170 cubic meters over the past year.
The construction of the six LNG carriers will be funded as to approximately 20% (that is, US$302,000,000 of the contract price by way of shareholder funding, and 80% by long term limited recourse debt facilities by a syndicate of banks (The Export-Import Bank of China, Industrial and Commercial Bank of China Limited and Bank of China Limited, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, LTD. and Mizuho Corporate Bank, LTD.) of up to US$1,208,000,000 pursuant to the facility Agreements.
Hudong-Zhonghua’s orderbook of LNG carriers currently stands at 8.
Who else is building LNG carrers? Follow this link to find out: http://gcaptain.com/whos-building-carriers/
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