By Saleha Mohsin (Bloomberg) -- Billionaire John Fredriksen and Exmar NV canceled a deal to create a liquefied natural gas company that would have had 13 vessels and an enterprise value of $2.3 billion. The combination of Fredriksen’s Flex LNG Ltd and Exmar assets was announced in July and was subject to due diligence. “The parties have failed to agree on the … [Read more...]
Fredriksen Sets Up $2 Billion LNG Powerhouse – EXMAR LNG
By Mikael Holter (Bloomberg) -- Billionaire John Fredriksen and Exmar NV are transferring liquefied natural gas assets to Flex LNG Ltd. to create a company operating 13 vessels with an enterprise value of $2.3 billion. Antwerp-based Exmar will transfer its assets to Fredriksen- controlled Flex LNG in return for 323.7 million new shares in the company, giving it … [Read more...]
Exmar Optimistic About Gas Carrier Market Into 2015
BRUSSELS, Oct 30 (Reuters) - Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter and was expected to remain good in spite of new vessels being delivered in 2015. The group said its LNG business unit generated $8.5 million in operating profit in the third quarter, up … [Read more...]
Fire Disables LNG-Regasification Vessel in Indian Ocean
Efforts are underway to tow a disabled LNG-regasification vessel in the Indian Ocean west of Mumbai after a Saturday engine room fire cut power and propulsion to the ship. Exmar Shipmanagement NV said Wednesday that its managed LNGRV ‘Explorer’ experienced a fire in the engine room on June 14 about 240 west of Mumbai, India. The fire was promptly extinguished by the ship’s … [Read more...]
Exmar LPG Wins Long-Term LPG Charters, Regas Unit Ordered
Exmar LPG, the shipowning joint venture between Teekay LNG and Exmar NV, announced today the winning of long term charters for four of their midsize LPG carriers. Statoil signed a time-charter for 5 firm years up to a maximum of 10 years for two of Exmar's vessels which are currently under construction at Hanjin Subic Bay. Upon delivery in 2016, these ships will have a … [Read more...]
EXMAR to Deliver Canadian Floating Gas Liquefaction and Storage Unit
EXMAR announced today the signing of a Letter of Intent (LOI) to provide a Floating Liquefaction & Storage Unit (FLSU) to serve the BC LNG Project in British Columbia, Canada. The LOI includes a 20-year charter to BC LNG plus options for 2 additional 5-year periods. According to a statement on the BC LNG website, this barge-based liquefaction plant will be installed at a … [Read more...]
EXMAR LPG Joint Venture Adds Two Midsize Gas Carriers
Belgian gas shipping company EXMAR NV said Wednesday that its joint venture with Teekay LNG, EXMAR LPG, has exercised an option for two additional midsize gas carriers to be built at Hanjin Heavy Industries' Subic Bay shipyard. The two 38,000 cbm LPG carriers are in addition to the joint venture's existing newbuild program of 8 midsize gas carriers split between Hyundai Mipo … [Read more...]