• 2017 November 14 16:34

    BW Group Limited and Mitsui & Co. form JV to jointly own FSRU BW Integrity

    BW Group Limited and Mitsui & Co. has announced the formation of a Joint Venture (JV) to jointly own the Floating Storage and Regasification Unit (FSRU) BW Integrity, the company said in its press release. Mitsui & Co. has purchased a 49% share in BW Integrity, and BW continues to own a 51% share in the vessel. BW will continue to provide commercial and technical management services. BW Integrity is currently in Port Qasim on a 15-year charter to PGP Consortium Limited (PGPC), to provide LNG regasification services at Pakistan’s second LNG import terminal.

    Mitsui & Co.’s Chief Operating Officer of the Integrated Transportation Systems Business Unit II, Takeshi Setozaki said: “Mitsui and BW have enjoyed a good relationship for many years in various shipping areas. The opportunity for us to enter the FSRU business is a very big step forward for our future business strategy. As a LNG receiving/regasification base project is an extension of the LNG shipping business area, it is important to acquire know-how of the FSRU business and to maintain effective relationships with partners like BW. I am convinced that this partnership will also greatly contribute to Mitsui &Co.’s gas sales strategy. I would like to continue to expand this business area firmly in the future.”

    BW is a leading international gas shipping company with more than 80 years of maritime energy transportation history, 40 years of operational experience in LNG and a current fleet of 21 LNG carriers and FSRUs including newbuildings. BW’s first FSRU, the BW Singapore, is currently involved in a five-year contract providing LNG regasification and storage services in Sumed, Egypt.

    About BW Group
    BW Group is a leading global maritime group involved in oil and gas transportation, floating gas infrastructure, environmental technologies and deepwater production. Through its predecessor companies, Bergesen and World-Wide Shipping, BW has been delivering energy and other vital commodities for more than 80 years. BW's fleet of over 160 vessels includes refined oil tankers, LNG and LPG carriers, floating storage and regasification (FSRU) units, chemical tankers, dry cargo carriers and floating production storage and offloading (FPSO) units.

    About Mitsui & Co.
    Mitsui is a leading diversified and comprehensive trading firm in Japan. Mitsui provides a “one stop shop” service for our partners, customers and clients. Mitsui established a branch office in Pakistan in 1952 and has been involved in many business fields to contribute to Pakistan’s growth and prosperity. In the LNG field, we have created a Gas Value Chain business model, from upstream to the downstream industries, and focused on the Asia region and FSRU/receiving terminal related business.




2018 January 19

10:17 Brent Crude futures price down 1.01% to $68.61, Light Sweet Crude – down 1.22% to $63.17
09:56 Bunker prices are flat at the Port of Saint-Petersburg, Russia (graph)
09:32 Royal IHC supports Hydraulic Engineering Structures and Dredging Congress as its Sponsor
09:15 Baltic Dry Index down to 1,139 points

2018 January 18

18:01 ABP South Wales ports see strong growth in 2017
17:39 Russian Union of Water Transport Workers congratulates North-Western Shipping Company on its 95th anniversary!
16:24 Fincantieri signs cooperation protocol with the autonomous Region of Friuli Venezia Giulia and the trade unions
16:02 MABUX: Bunker prices wait for the new market catalysts
15:33 Port of Marseille Fos and HAROPA launch new rail shuttle
15:02 CMA CGM announces FAK rates from Asia to North Africa and from Asia to the Mediterranean
14:32 Unifeeder adds Vlissingen to its service
14:19 Three vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on Jan 17-18
14:02 Ocean Network Express receives all necessary merger approvals
13:50 RPK-Vysotsk-LUKOIL-II terminal received 10.06 mln t of export oil products in 2017
13:32 Part-load optimisation delivers significant fuel savings for MAN auxiliary engines
13:28 Van Oord supports V Forum of Dredging Companies as its Sponsor
13:12 Rolls-Royce announces strategic review of Commercial Marine operation
12:50 Kerch ferry line carried 5.71 mln passengers in 2017, down 4% Y-o-Y
12:31 Wan Hai Lines to launch Japan Express Service to Singapore Malaysia
12:08 Port of Amsterdam receives LME certification
11:59 Vroon awarded multi-year charter for two PX-121 platform-supply vessels
11:36 Chevron Shipping awards global oil and LNG contract to GAC
11:05 German LNG Terminal launches Open Season
10:27 Brent Crude futures price up 0.14% to $69.48, Light Sweet Crude – up 0.34% to $64.19
10:04 FSUE Morsviazsputnik congratulates North-Western Shipping Company on its 95th anniversary!
09:42 Port of Klaipeda (Lithuania) handled 43.17 mln t of cargo in 2017, up 7.5% Y-o-Y
09:19 Baltic Dry Index down to 1,164 points

2018 January 17

18:00 Federal Agency for Water Resources supports Hydraulic Engineering Structures and Dredging Congress
17:03 Diana Shipping announces time charter contract for m/v Phaidra with Uniper
16:48 Sweden's Minister of Infrastructure visited World Maritime University
16:34 DNV GL launches certification framework and recommended practice for Carbon Capture and Storage
16:03 JAXPORT hires new Container Accounts Director
15:50 Lotos shipyard lays down paddle cruiser of Golden Ring design (photo)
15:42 Norwegian Central Bank excludes Evergreen Marine, Precious Shipping, Korea Line and Thorensen Thai Agencies from the Government Pension Fund Global
15:21 Three vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on Jan 16-17
15:04 DNV GL launches new JDP to test biodegradable lubricants
14:49 Beginning of icebreaker assistance period announced at port Primorsk (Leningrad Region)
14:33 “K” Line Group announces name change of two ship management subsidiaries
14:11 Throughput of port Helsinki (Finland) up 14.2% to 14.27 mln t in 2017 (table)
14:03 SBM Offshore completes Turritella handover and transaction
13:25 Throughput of port Kavkaz up 40% to 44.293 mln t in 2017
13:08 OOCL christens the last in latest series of ‘G-Class’ containerships
12:54 Yevgeny Zagorodny steps down as Vice-President of United Shipbuilding Corporation
12:26 Coal exports via Rosterminalugol terminal hit 1 mln t milestone this year (photo)
12:01 The Port of Helsinki takes the top spot among European passenger ports
11:22 De Boer/Dutch Dredging and Iskes Towage take delivery of ASD 2310 SD at Damen Shipyards Hardinxveld
10:43 Port of Gdansk throughput up 9% to 40.6 mln t in 2017
10:19 Brent Crude futures price down 0.1% to $69.08, Light Sweet Crude – down 0.11% to $63.66
10:00 NOVATEK’s hydrocarbons production in 2017 totaled 513.3 mln boe, down 6.2% Y-o-Y
09:37 Bunker prices are flat at the Port of Saint-Petersburg, Russia (graph)
09:15 Baltic Dry Index down to 1,221 points
09:08 Hamburg Süd honored twice for sustainability
08:14 COSCO's container ship to receive cyber enabled ship descriptive note ‘Cyber AL3 SECURE PERFORM (Energy Management System)’

2018 January 16

18:21 Kommer Damen opens Damen Area Support China
18:08 DNV GL approves latest Kongsberg Digital Engine Room Simulators
17:49 Russian Railways: Loading of Russia’s export cargo bound for domestic ports up 6.4% Y-o-Y to 293.4 mln t in 2017
17:26 State stevedores of Ukraine handled 34.73 mln t of cargo in 2017, down 9.6% Y-o-Y
17:00 Andrey Lavrishchev’s report at Hydraulic Engineering Structures and Dredging Congress will focus on promising port projects
16:35 Installation of Belgian topside for offshore substation marks milestone in further construction of Merkur Offshore Wind Farm
16:04 Maersk Line announces increase in FAK rates from Northern Europe to Middle East and ISC and from Mediterranean to Far East