• 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.




2019 May 21

18:33 Maersk to charter 13 new feeder ships powered by conventional fuel from 2021
18:25 Long-term Wärtsilä service agreements support optimal performance for LNG Carriers
18:04 GTT notified by Samsung Heavy Industries for the tank design of a new LNG carrier for Nisshin Shipping
17:48 Throughput of port Vysotsk in Jan-Apr'2019 climbed by 7% Y-o-Y to 6.65 million tonnes
17:25 Bunker prices still show no considerable changes at the Far East ports of Russia (graph)
17:19 ABB to enable world’s first hydrogen-powered river vessel
17:04 Port of Zeebrugge sets new record with maiden call of OOCL United Kingdom
16:42 Sredne-Nevsky Shipyard lays down Pioner-M, research ship of Project 25700
16:19 USCG host workshop to discuss safe operation of commercial passenger vessels
16:04 IMO issues additional guidance for sulphur 2020 implementation
15:33 UN agency pushes forward on shipping emissions reduction
15:19 Nevsky Shipyard delivers Nevsky Shipyard second vessel in a series of five dry cargo vessel of project RSD59
15:03 Panama Canal announces enhancements to its Green Connection Environmental Recognition Program
14:27 DSD sells its ferry and expressboat company Norled
14:06 Throughput of port Primorsk in Jan-Apr’2019 grew by 5% Y-o-Y to 18.95 million tonnes
14:03 MOL and Weathernews release of FOCUS Project part I 'Fleet Viewer' application
13:44 Port of Hamburg posts Q1 2019 results
13:41 Czech and Polish officials visit the Port of Gdansk to promote trade between the countries
13:14 Multipurpose Reloading Complex boosts investments in environment protection 15 times to RUB 8 million
12:49 Port of Ust-Luga handled 35.55 million tonnes in 4M’19, up 8% Y-o-Y
12:25 Throughput of Port St. Petersburg in Jan-Apr'2019 grew by 2% Y-o-Y to 19.67 million tonnes
12:02 IAPH Port Planning and Development Committee published a report “Autonomous Vehicles’ Impact on Port Infrastructure Requirements ”
11:28 Port of Kiel welcomes “Aidaprima” for its maiden call
11:00 Container Terminal Saint-Petersburg allocated RUB 2.9 million for implementation of its social programme in 1Q’2019
10:11 Swan Hunter completes modular offshore grid cable storage load-in
09:56 Brent Crude futures price is up 0.31% to $72.19, Light Sweet Crude – up 0.43% to $63.48
09:27 Debmarine Namibia to invest in world’s first custom-built diamond recovery vessel
09:13 Baltic Dry Index is up to 1,041 points
08:05 MABUX: Bunker market this morning, May 21

2019 May 20

18:35 First MAN dual-fuel, diesel-mechanical propulsion package bound for LNG-powered ferry
18:24 Peel Ports expands logistics services with acquisition
18:06 CMA CGM announces FAK rates from Asia to North Africa
17:28 Less storm damage in the port of Rotterdam because of Windbreakers
17:14 HMM to launch new Corporate Identity
17:06 Access World Terminals expands premises and activities in North Sea Port
16:54 Arctic LNG 2 and TechnipFMC sign EPC Contract for LNG plant
16:31 CMA CGM announces FAK rates from Asia to the Mediterranean
16:05 Damen Shiprepair Brest completes rapid repairs to LNG Carrier Methane Princess
15:38 Scrubber washwater to be investigated
15:15 MEPC agrees on scrubber guidance
14:51 Finnlines’ Tapani Voionmaa elected to the BIMCO Board of Directors
14:26 Gazpromneft Marine Bunker’s sales in 1Q’19 grew by 25% YoY to 800,000 tonnes
14:02 Zeaborn places 100 ships with Verifavia Shipping & Korean Register for Inventory of Hazardous Material services
13:44 Ministry of Transport and Communication of Finland: Reforms related to ship safety nearing completion
13:23 IMO organized workshop for getting audit-ready in Cameroon
13:02 Wärtsilä and LUT University to collaborate on research for 100% renewable energy systems
12:37 Average wholesale prices for М-100 HFO down to RUB 19,363 in RF spot market
12:01 International shipping on track to meet 2030 CO2 reduction target following critical UN IMO meeting
11:45 SMS Towage calls on Damen for two ASD 2411 Tugs
11:34 Annual capacity of Russia’s Baltic ports can be increased by 32.5% to 478.9 million tonnes by 2025
11:12 Bunker sales at the port of Singapore in Jan-Apr’2019 fell by 8% Y-o-Y to 15.78 million tonnes
10:50 Port of Singapore throughput in Jan-Apr’2019 fell by 1.1% Y-o-Y to 205.72 million tonnes
10:27 Throughput of port Shanghai (China) in Jan-Apr’19 remained flat at 178.59 million tonnes
10:05 Brent Crude futures price is up 1.27% to $73.13, Light Sweet Crude – up 1.18% to $63.66
09:46 Container throughput of port Hong Kong (China) down 7.6% to 5.99 million TEUs in Jan-Apr’2019
09:24 CLIA Conference and trade fair held in Southampton
09:13 Baltic Dry Index is up to 1,040 points
08:59 MABUX: Bunker market this morning, May 20

2019 May 19

16:51 Hamburg Süd strengthens its product portfolio on the Europe–Central America, Caribbean and South America West Coast trade
15:47 CMA CGM to implement FAK rates for Asia to the Middle East Gulf, Asia to Pakistan / India / Sri Lanka trades