• 2018 June 4 17:53

    Höegh LNG signs three-year FSRU/LNGC time charter with CNOOC

    Höegh LNG Holdings Ltd. (Höegh LNG) says it has signed a time charter for the floating storage and regasification unit (FSRU) Höegh Esperanza with CNOOC Gas & Power Trading and Marketing Ltd. (CNOOC). The time charter is for three years with a one-year extension option. Under the contract, Höegh Esperanza will be utilised in FSRU mode at the Tianjin LNG terminal in China for no less than an agreed-upon  minimum period each year, with the balance of the year in LNGC mode and/or FSRU mode. The contract will commence with immediate effect, and has a rate structure that corresponds to the mode of use.

    Chinese policies to encourage consumers to transition from coal to gas have caused natural gas consumption to increase sharply. This increased demand has required significant increases in LNG imports, as evidenced by China importing 12.7 million tonnes of LNG in the first quarter of 2018, or 61% more than in the same period of 2017. To enable further growth in Chinese LNG imports in line with these policies, additional LNG import facilities need to be developed, including FSRUs. 

    Höegh Esperanza was delivered from Hyundai Heavy Industries in South Korea on 5 April 2018. This high-specification FSRU is designed for open, closed or combined loop regasification operation. It has a storage capacity of 170 000 cbm of LNG and a maximum regasification rate of 750 million standard cubic feet per day. It is equipped with a GTT Mark III membrane containment system and dual-fuel diesel-electric (DFDE) propulsion.

    Höegh LNG's CEO and President, Mr Sveinung J.S. Støhle comments: "We are proud to sign this strategically important contract with CNOOC, the largest of the Chinese LNG companies by volume. Given the short lead time, deployment flexibility and clear cost advantages, FSRUs are today the preferred solution for imports of LNG. Höegh LNG is the only FSRU operator with operating experience in China, and we see the potential for Höegh LNG to provide additional FSRUs to this large and rapidly growing LNG market. Höegh Esperanza will start generate revenues under this contract immediately, and Höegh LNG's delivered fleet is with this fully employed."

    Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus its growth plans in the FSRU market, with the objective of securing long-term contracts with strong counterparties at attractive returns. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 125 office staff and 500 seafarers.




2018 August 14

11:29 Rosterminalugol’s seven-month coal throughput hits the 13-million tonne mark
11:11 Crude oil futures price rises to $73.28 (London) and $67.81 (New York)
11:01 Diana Shipping announces continuation of time charter contract for m/v Protefs and a new time charter contract for m/v Nirefs with Hudson
10:58 GeoSea has taken delivery of self-propelled DP2 jack-up vessel ‘Apollo’
10:09 Safe Bulkers announces acquisition of a Capesize class dry-bulk vessel
09:30 Consolidated Marine Management selects ABS Advanced Solutions Enterprise Asset Management
09:14 Baltic Dry Index gains 18 points edging up to 1800pts mark
09:00 ABP to develop new technologies with Rolls Royce and Svitzer

2018 August 13

18:41 Port of Helsinki seven-month volume grows 10% to 8.88 million tonnes
18:27 Russian Gov’t to lend a helping hand to BAM and Transsib modernization project
18:23 HII awarded advance planning contract for CVN 74 RCOH
17:54 Nord Stream 2 submits application and EIA for an alternative route in Denmark
17:47 Board of Harbor Commissioners promotes Casey Hehr as Port of Long Beach Security Director
17:42 NYK to participate in demonstration project to remotely operate a ship
17:15 VT Halter Marine, Inc. launches VDOT's new ferry Powhatam
16:43 Swire Seabed's Seabed Worker commences new project with the Norwegian Petroleum Directorate (NPD) to collect seabed data in the Norwegian Sea
16:38 Spot market price for Russian M100 product ended last week higher at nearly RUB 18,000 / pmt
16:24 RKS-ENGINEERING chosen as the Krasnoyarsk Dam Shiplift overhaul project contractor
15:19 Cammell Laird launches Leander Frigate website following worldwide interest
15:03 Sea Port of St. Petersburg spends RUB 15,8 mln on OH&S programmes
14:05 Yang Ming named Provider of the Year 2018
13:43 PortNews to host live webcast of Marine Robotics: Laws, Applications, Technologies Roundtable, in Moscow and Vladivostok, August 24
13:27 Hapag-Lloyd posts net loss of US$115.3m in H1 2018
13:27 Cargo traffic at Port of Riga in Jan-Jul up 4.4% to 20.8 million tonnes
13:04 Norwegian Cruise Line reports financial results for Q2 2018
12:27 Coldharbour opens Singapore office, plans expansion in Asia
12:03 SEA\LNG welcomes Mexico-based ÉNESTAS to its membership coalition
11:03 Diana Containerships announces time charter contract for m/v Pamina with HMM
10:35 Crude oil futures price falls 0.34% to $72.56 in London and 0.28% to $67.44 in New York
10:21 The fire in the Port of Antwerp may continue for several days
10:09 Cheniere and CPC sign 25-year LNG sale and purchase agreement
09:51 Cargill opens innovation center to help raise fish farming standards in Indonesia
09:32 Leaders of five Capsian states sign Convention on legal status of the Caspian Sea
09:18 Baltic Dry Index edges down to 1691 points

2018 August 12

10:23 Viking Supply Ships AS sells three Icebreakers
10:14 Long Beach Board of Harbor Commissioners appoints Security Director
08:21 Polarcus awarded 3D project in West Africa
07:16 CMA CGM announces PSS from Brazil to West, South and East Africa, Middle East, Indian Ocean & West Coast of North India

2018 August 11

09:18 Major ports of India register growth of 4.13% in April - July 2018
08:07 CMA CGM announces FAK rates from Asia to the Middle East Gulf
07:12 Freeport of Riga Authority renews its integrated management system certification
07:10 LNG carrier Pskov loads first cargo from Yamal LNG second train

2018 August 10

18:29 HHLA Real Estate announces new appointments
18:19 Gulf Island Fabrication reports Q2 results
17:35 Yang Ming reveals H1 2018 financial report
17:05 CMA CGM announces FAK rates from Asia to Red Sea
16:23 Port of Hamburg welcomes MSC Meraviglia with over 5000 guests on board
16:16 Russian Railways: Loading of export cargo bound for domestic ports up 5.3% to 178.8 million tonnes in 7M’18
15:54 Hapag-Lloyd posts results for H1 2018
15:44 Throughput of Russian seaports in 7M’18 grew by 3.1% to 463.70 million tonnes
15:02 Polarcus announces termination of support service agreements
14:32 m.v. Amstelborg delivers wind turbines at the Great Lakes
14:02 GE Transportation pilot project begins at the Port of Long Beach
13:32 Port of Antwerp introduces innovative autonomous sounding boat with unique technology
13:25 Vasily Strugov appointed Deputy General Director for Fleet of FSUE Rosmorport
13:02 Maersk Line announces implementation of Star Care Reefer Service (CAS) - Philippines to World
12:31 Port of Long Beach container volumes drop by 4.4 percent in July 2018
12:01 Maersk and IBM introduce TradeLens blockchain shipping solution
11:39 Aker Solutions secures work on Johan Sverdrup
11:39 Port of Rotterdam Authority to replace a section of the slopes