Golar LNG awarded Keppel Shipyard a contract today worth approximatelyUSD $705 million to convert the 125,000 m3 LNG carrier Golar Gimi to a floating liquefaction facility (FLNGV). As the above rendering shows, this project will involve adding immense amount of steel to the vessel and associated engineering work. This is the second such order placed by Golar in the past … [Read more...]
Golar LNG Receives Over $1B in Financing for 8 Newbuilds
Golar LNG Ltd. has announced the execution of a USD $1.125 billion financing agreement to fund the first 8 of its 13 newbuild vessels and FSRUs. Golar has 11 LNG carriers of around 160,000 cbm on their newbuilding list, as well as two FSRUs of 170,000 cbm and 160,000 cbm respectively. The majority of the vessels are planned for delivery in 2015. In Golar's presentation … [Read more...]
LNG Ship Owners Gaining as Obama Signals Export Support
(Bloomberg) -- Golar LNG Ltd. and other tanker owners are reaping the benefits of President Barack Obama’s suggestions that he will back plans for liquefied natural gas exports equal to 17 percent of global trade. Obama said May 4 the U.S. probably will be a net shipper of natural gas by 2020. He is reviewing export projects that will probably add 41 million metric … [Read more...]
Pareto Securities Lowers Golar LNG to “Hold” on Reduced Near-Term Outlook
(Bloomberg) -- Golar LNG Ltd., an owner of tankers hauling liquefied natural gas, was lowered to “hold” from “buy” at Pareto Securities AS on prospects for reduced charter rates for the vessels. LNG supplies will be limited before 2015, which is expected to drive hire costs for the ships lower, Eirik Haavaldsen and Jonas Advocaat Kraft, analysts at … [Read more...]
Golar Maria LNG Carrier Sold for $215 Million
By Debbie Cai Golar LNG Ltd. (GLNG) has agreed to sell the company that owns and operates the liquefied natural gas carrier, the Golar Maria, together with its time-charter, to Golar LNG Partners LP (GMLP) for $215 million. Golar LNG Ltd., which transports, liquefies and trades LNG, expects to reinvest a significant part of the net proceeds in its newbuilding program and … [Read more...]
Fredricksen is “Printing Money” With Golar LNG as Day Rates Begin to Fall
Jan. 22 (Bloomberg) -- Rates to ship liquefied natural gas are dropping for the first time in four years amid a diminishing scarcity of the carriers transporting the fuel, a bullish sign for investors in the biggest owners of the vessels. Golar LNG Ltd., the tanker company founded by billionaire John Fredriksen, will report record profit this year and its shares will gain 22 … [Read more...]
With Strong Demand for FSRUs, BW Maritime and Samsung Heavy Sign Newbuild Contract
BW Maritime and Samsung Heavy Industries signed a ship-building contract on Friday for BW’s first Liquefied Natural Gas Floating Storage Regasification Unit (LNG-FSRU). When delivered in 2015, this vessel and floating terminal will be able to receive and convert LNG into its gaseous form for offloading via pipelines, to gas facilities on-shore. Bermuda-based Golar … [Read more...]