• 2018 October 22 13:23

    Pavilion Energy and BW ink deal for long-term charter of two Singapore-flagged LNG newbuilds

    Pavilion Energy has signed an agreement with BW Group (BW) for the long-term charter of two M-type, Electronically Controlled, Gas Injection (MEGI) LNG newbuilds, the company said in its press release.

    The 173,400 m3 vessels are scheduled for delivery between 2019 and 2020, and will be used to enable Pavilion Energy’s global portfolio and LNG trading expansion. These carriers will add to Pavilion Energy’s existing fleet on water which includes the BW Pavilion Vanda and BW Pavilion Leeara.

    Mr Frédéric Barnaud, Group CEO of Pavilion Energy, said, “The long-term charters of these MEGI newbuilds from our long-standing shipping partner BW will strengthen Pavilion Energy’s global LNG trading activities, especially on long-haul voyages from Atlantic liquefaction plants to Singapore and Asian markets. This will reinforce our already strong Asian LNG supply and trading strategy to connect markets and supplies regionally and globally.”

    Ms Yngvil Åsheim, Managing Director of BW LNG, said, “BW remains committed to our partnership with Pavilion Energy, and these charters are important milestones in the growth of our collaboration. The vessel design incorporates BW LNG’s many years of LNG experience and we look forward to further serving Pavilion Energy’s need for safe and efficient transport of LNG.”

    MEGI engines are a state-of-the art solution and the cumulation of years of development work on dual-fuel engines. These engines offer higher efficiency and lower carbon emissions, and is an integral part of both companies’ efforts towards environmentally sustainable operations. MEGI engines consume less fuel compared to TFDE (Tri Fuel Diesel Engine) vessels. Such savings in consumption translates to a reduction of about 22,300 tons of carbon dioxide emissions per vessel per year. This reduction is the equivalent of the emissions from 4,800 passenger cars in a single year.

    In 2014, Pavilion Energy and BW formed a joint venture, BW Pavilion LNG Pte Ltd, to acquire, manage and charter maritime LNG assets, including LNG carriers. The joint venture’s fleet includes two Singapore-flagged LNG newbuilds, the BW Pavilion Vanda and the BW Pavilion Leeara, which will both be on long-term charter to Pavilion Energy in 2019.

    About BW Group

    BW Group is a leading global maritime group involved in shipping, floating gas infrastructure and deepwater oil & gas production, and has been delivering energy and other vital commodities for more than 80 years, with a controlled fleet of over 300 ships including affiliates and subsidiaries. The group was founded by Sir YK Pao in Hong Kong in 1955 as World-Wide Shipping. In 2003, the group acquired Bergesen, Norway’s largest shipping company founded in 1935, and in 2005, the business was re-branded as BW. Today, BW Group operates the world’s largest gas shipping fleet (LNG and LPG combined), with a total of 70 large gas vessels, including three FSRUs (floating storage and regasification units). BW Offshore operates the world’s second largest floating oil and gas production fleet (FPSOs), with 15 units in US, Brazil, Mexico, West Africa, North Sea, and Australasia. BW’s fleet also includes crude oil supertankers, refined oil tankers, chemical tankers and dry bulk carriers.

    About Pavilion Energy

    Pavilion Energy invests in key liquefied natural gas (LNG) businesses to support the growth of a sustainable future in the region. Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy, is responsible for the marketing and distributing of natural gas in Singapore and the region, including small-scale LNG and LNG bunkering initiatives; and participates in LNG trading across the globe. In 2016, Pavilion Gas was appointed by the Singapore Energy Market Authority (EMA) as an LNG Importer for Singapore.




2019 April 26

18:03 Maersk Supply Service awarded major FPSO mooring project
17:42 Bronka Port rolls out new bulk handling capabilities of KOTTA container for bulk cargo owners
17:32 DFDS invests in biofuel start-up
17:06 Concerns remain for global marine underwriting, says IUMI
16:04 Lloyd’s Register announces new range of online training courses for ISO 45001
16:01 New research into glycol freezing enables further savings with the Alfa Laval DuroShell heat exchanger in LNG fuel systems
15:47 Damen’s InvaSave mobile ballast water treatment system goes on tour ahead of IMO deadline
15:04 Port of Antwerp cargo turnover down by 3% in Q1 2019
14:36 Keppel delivers fourth enhanced KFELS Super A Class unit to EnscoRowan
14:11 Yakutia, Russia officials host groundbreaking ceremony at the site of future Zhatai Shipyard
13:38 Zvezda Shipyard hosts keel-laying ceremony for second Aframax tanker for Rosnefteflot
12:03 DEME Offshore and Equinor join hands to study floating concrete substructures for Hywind Tampen floating wind farm
11:54 Marine Façade Port to become a base for a single St. Petersburg public cruise / ferry operator
10:24 Russia’s MARINET OKs the autonomous concept of IQBoat
10:11 Brent Crude, WTI futures close lower at $ 74,19 and $ 64,89, repectively
10:08 Grimaldi starts construction of GG5G Class hybrid freighter
09:41 Baltic Dry Index rises 2.24% pts to 869 points
09:27 Bunker Market this morning, April 26
09:00 IMO launches website for Marine Environment Protection of the South-East Asian Seas project
08:13 MOL recorded ¥6.1 billion in extraordinary loss for FY2018 on its Non-consolidated Financial Statements

2019 April 25

18:06 St. Petersburg port Marine Façade revamped Pier 7 to accommodate two longer cruise ships from 2021
18:05 Bodrum Cruise Port welcomes the First call of the Year
17:05 MOL announces naming ceremony for two newbuilding LNG carriers
16:08 Bumi Armada refinances corporate debt
15:37 Volga Shipping Company starts 2019 cargo shipping season on the Upper Volga
15:08 Bibby HydroMap hold DriX demonstration day at Catapult in Blyth
15:08 NUTEP takes delivery of handling equipment from ZPMC for new Berth No. 38
14:30 Jan De Nul Group extends its fleet with three water injection dredgers
14:08 KCA Deutag awarded a four-year drilling contract extension on North Sea platform
13:52 CMA CGM unveils its vision for a digital customer journey and launches CMA CGM eSolutions
13:52 Bunker prices at Far Eastern ports end week nearly flat
13:08 CNOOC China Limited signs a petroleum contract with PetroChina
12:08 HullWiper signs hull cleaning frame agreement with Equinor ASA
11:08 ONE announces delivery of 14,000-TEU containership “ONE APUS”
10:49 MABUX: Bunker market this morning, Apr.25.
10:24 Brent Crude futures price edges up to $ 74,6, WTI - down to $ 65,79
10:08 Seagull Maritime acquires software company Tero Marine
10:08 Zelenodolsk Shipyard hosts keel-laying ceremony for 10th Grachonok-class special purpose boat
09:49 NCSP and VTB close the Novorossiysk Grain Terminal shares sale deal
09:07 UK’s leading port operator, ABP, appoints new Chief Commercial Officer
09:05 Baltic Dry Index continues to gain, settles at 850 points
08:07 Delta Mariner first to use deepened Nieuwe Waterweg at the Port of Rotterdam
07:23 LNG vessel completes 6,000th Neopanamax transit at the Panama Canal
07:12 MOL announces delivery of VLCC "PHOENIX JAMNAGAR"

2019 April 24

18:15 Cryogas-Vysotsk kicks off full-scale LNG production
18:11 Jiangsu Zhenjiang Shipyard holds steel-cutting for four ASD tugs ordered for Liaoning Longyun Shunze Tug Ltd.
18:07 COSCO SHIPPING Heavy Industry in Yangzhou holds naming ceremony for 400K DWT VLOC
17:30 Final caisson installed for Tuas Terminal Phase 1
17:07 Klaveness Combination Carriers ASA concludes the first contract of affreightment for its CLEANBU fleet
17:05 Oceaneering takes delivery of the advanced subsea construction support vessel
16:37 COSCO SHIPPING signs a strategic cooperation agreement with Yangzhou
16:34 MOL co-own world 6 largest Liquified Ethan Carrier with Reliance
16:26 Port of Vysotsk three-month cargo throughput rose 12% to 5 million tonnes
16:05 Tanjung Bruas Port expands its services to container ships
15:46 HMM to expand cooperation with FESCO
14:41 Primorsk oil port’s throughput rose 5% in Jan-Mar to 14 million tonnes
14:29 Rosmorport picks Oil Terminal Lavna to provide berths for its ships docking in Murmansk
13:42 Ust-Luga Port’s three-month volume up 8% to more than 26 million tonnes
13:35 Port of St.-Petersburg Q1 cargo volumes rise 3% to 14.26 million tonnes
13:22 FPU Akademik Lomonosov completed trials of nuclear power plant