…As GasLog Reveals LNG Carrier Order at SHI***
Brazil Shipping Limited 1, a subsidiary of Royal Dutch Shell, has sealed a deal with AET to build and operate a new dynamic positioning (IMO Class 2) shuttle tanker.
This is Shell’s first contract involving AET’s dynamic positioning shuttle tanker (DPST) portfolio. The duo has had a long cooperation in other segments and recently the company took AET’s two newbuild LNG dual-fuelled Aframax vessels on long-term charter.
“Developing these niche services adds even greater breadth to MISC Group’s four core business segments of LNG shipping, petroleum shipping, offshore business and marine & heavy engineering and ensures that we are developing solutions for the evolving energy industry,” said Yee Yang Chien, President/Group CEO of MISC Berhad and Chairman of AET.
“Adding AET’s dynamic positioning vessel to our operations in Brazil supports our growing deep-water activities. It achieves this by providing us with increased flexibility for our crude trading business as we look to serve our global customers with Brazil’s growing offshore production,“Mark Quartermain, Vice President of Shell Trading and Supply Crude, said.
The 152,700 DWT DP2 vessel will be built by a Korean shipyard expected for delivery in Q4 2020 and, although earmarked for Brazilian waters, the vessel will be capable of operating globally.
It will be compliant to IMO NOx Tier 3 requirements, featuring a ballast water treatment system, high-power thrusters, generators and the latest position reference system fully capable of operating in harsh weather conditions.
As disclosed by Captain Rajalingam Subramaniam, President & CEO, AET, the company has two dynamic positioning tankers already operating in the Brazilian Basin for Petrobras and another two operating in the North and Barents Seas for Equinor.
A further two DPSTs are being built for Equinor to operate in oilfields on the Norwegian Continental Shelf of the North Sea, Norwegian Sea and the southern Barents Sea as well as on the UK Continental Shelf.
AET also has four dynamic positioning vessels currently being built to take-up long-term charters for Petrobras.
In the meantime, owner and operator of LNG carriers GasLog is behind the latest order at South Korean shipbuilder Samsung Heavy Industries (SHI) for two newbuilds.
As World Maritime News reported earlier this morning, SHI has been hired to construct two 174,000 cubic meter LNG carriers with low pressure two stroke propulsion, with expected delivery in late 2020.
The newbuilding duo has been chartered by a wholly owned subsidiary of Cheniere Energy. Each vessel secured a charter for a firm period of seven years, GasLog said.
The contract is worth KRW 412.3 billion (USD 367 million), SHI said.
What is more, GasLog has agreed with Cheniere an option for the charter of one or two additional newbuild vessels.
GasLog Partners LP has the right to acquire the vessels delivered into the charters pursuant to the omnibus agreement between GasLog and GasLog Partners. As a result, GasLog Partners’ potential dropdown pipeline will increase to 11 LNG carriers with charter length of five years or longer.
“We continue to expand our fleet with highly competitive vessels backed by long term contracts, while simultaneously diversifying our customer base. We anticipate further incremental shipping capacity will be needed to supply forecast LNG demand growth, and remain confident in our ability to increase our market share at attractive returns,” Paul Wogan, Chief Executive Officer of GasLog, said.
World Maritime News
