• 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.




2018 November 18

16:21 Wellington ferry skipper fined $1,688 after grounding
15:04 SFL continues its fleet renewal programme, to sell its 2002-built VLCC
14:37 Austal delivers Expeditionary Fast Transport ship USNS Burlington to U.S. Navy
14:26 Lockheed Martin gets $282M contract mod for four MMSCs project
14:13 Ulstein Verft starts construction of largest hybrid ship for Color Line
13:41 Klaveness extends contract of affreightment with South32 Marketing Pte Ltd
12:06 PaxOcean wins three newbuilding contracts from Royal IHC

2018 November 17

18:29 Sanmar delivers Robert Allan-designed new tractor tug Svitzer Meridian
18:02 MSC launches train between Giengen and Trieste
17:51 BGC Partners acquires Poten & Partners
16:41 ABB wins significant asset management solution order in China
16:11 New Secretary-General appointed to the Paris MoU on PSC

2018 November 16

18:07 Ocean Network Express announces delivery of 14,000 - TEU containership “ONE COLUMBA”
18:02 Sovcomflot reported its results for Q3 and 9M ending 30 September 2018
18:01 Throughput of port Vyborg in 10M’18 up 23% Y-o-Y to 1.53 million tonnes
17:42 Federal Antimonopoly Service of Russia approves amendments to railway transport tariffs
17:30 Keppel announces settlement agreement for termination of an integration project
17:17 Throughput of port Kaliningrad in 10M’18 grew by 5% Y-o-Y to 11.83 million tonnes
17:07 Van Oord and Ace Aquatec making FaunaGuard available for rest of the world
17:06 PaxOcean delivers largest FSRU to be built in China
16:55 Throughput of port Primorsk in 10M’18 fell by 10% Y-o-Y to 44.42 million tonnes
16:55 NYK develops advance water-in-oil alarm to prevent engine trouble
16:33 Throughput of port Vysotsk in 10M’18 climbed by 6% Y-o-Y to 15.34 million tonnes
16:28 Maersk Line receives Service Innovation Award for its Remote Container Management product
16:10 Bureau Veritas Chongqing Liansheng wins Global Project Excellence Award of IPMA 2018
15:48 Port of Ust-Luga handled 81.50 million tonnes in 10M’18, down 4% Y-o-Y
15:29 Port of St. Petersburg handled 49.14 million tonnes in 10M’18, up 12% Y-o-Y
15:10 ZIM announces Q3 2018 results
14:45 Jan De Nul supports the 6th Forum of Dredging Companies as its Sponsor
14:24 Decision on construction of 4th and 5th nuclear-powered icebreakers expected before year end
14:10 Diana Shipping announces time charter contract for m/v Thetis with Hudson
13:32 Entry fee for vessels to be changed at the Port of Ventspils in 2019
13:10 Global Ship Lease completes strategic combination with Poseidon Containers
12:55 Ship inspection to keep high standards
12:31 GoodBulk announces delivery of Supramax vessel to its new owners
12:04 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
11:30 GTT receives an order from HHI to design the tanks of two new LNG carriers
11:25 Multipurpose Reloading Complex (Ust-Luga) boosts allocations for its development programme
11:04 ForSea completes conversion of the world’s largest battery ferries, powered by ABB
10:44 Wärtsilä, LUT University and Nebraska Public Power District to develop business case for alternative fuels
10:41 Nor-Shipping looks to achieve industry first with ISO sustainable event standard
10:20 Brent Crude futures price up 0.84% to $67.17, Light Sweet Crude – up 0.74% to $56.88
10:02 Portmaster improves efficiency in the Port of Scheveningen
09:57 High level experts to present at Maritime Reconnaissance and Surveillance Technology conference
09:35 Container throughput of port Hong Kong (China) down 5.4% to 16.3 million TEUs in Jan-Oct’18
09:16 Baltic Dry Index is up to 1,020 points

2018 November 15

18:03 Costa Smeralda to call on Cruiseport Rotterdam
17:54 Polish LNG Conference 2018 concludes in Warsaw
17:25 Port of Singapore throughput in 10M’18 grew by 0.7% Y-o-Y to 523.73 million tonnes
17:03 Maersk Line announces rates from Mediterranean to West and Central Asia
16:52 Expert says downward trend in bunker prices may continue next week
16:30 Nevsky Shipyard launched dry cargo vessel of Project RSD59 «Pola Anfisa»
16:19 "K" Line takes delivery of coal carrier “SHONAI MARU” for JERA Trading
16:04 ICTSI names new APAC head
15:22 Meyer Turku starts construction of Carnival XL1
15:03 Port of Antwerp signs an agreement with Enabel
14:34 Throughput of Ukraine’s seaports in 10M’18 declined by 0.7% Y-o-Y to 108 million tonnes
14:03 Pavilion Energy and Novatek agree to strengthen their LNG partnership
14:00 Damen hands over four FCS 2610 vessels to Allianz during ADIPEC
13:36 ABS awards industry’s first offshore facility cyber security-ready notation to Sembcorp Marine