Fredriksen, Exmar Deal for $2.3 Billion LNG Powerhouse Falls Through

  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...]