• 2018 November 14 15:20

    Stolt-Nielsen, Golar LNG and Höegh LNG announce joint $182 mln investment in Avenir LNG

    Reference is made to the Stock Exchange release on October, 01, 2018 where Stolt-Nielsen Limited, Golar LNG Limited and Höegh LNG Holdings Limited (collectively the 'Sponsors') announced a combined investment commitment of USD 182 million in Avenir LNG Ltd ('Avenir' or the 'Company') and a contemplated subsequent equity raise in the Company (the 'Private Placement'). The investment will be contributed as cash and equity-in-kind and will partly fund the construction of four 7,500cbm small-scale LNG carriers currently under construction at Keppel Singmarine in Nantong, China, two 20,000cbm small-scale LNG carriers on order from Sinopacific Offshore Engineering in Nantong, China and 80% ownership in an LNG terminal and distribution facility under development in the Italian port of Oristano, Sardinia.

    Avenir LNG has the ambition to become the leading provider of small scale LNG for the Power, Bunkering, Trucking and Industrial markets through supplying low-cost LNG using innovative technology and leveraging from its Sponsors' know-how and existing LNG infrastructure.

    The first step in the capitalisation of Avenir, a Private Placement of 110,000,000 new shares (the 'Offer Shares') at a par price of USD 1.00 per share, which has now been successfully completed at a subscription price of USD 1.00 per share.

    This placement was split in two tranches. Tranche A consisted of 99,000,000 new shares that were subscribed for by Stolt-Nielsen Ltd (through Stolt-Nielsen LNG Holdings Ltd.), (49,500,000 Shares), Golar LNG Limited (24,750,000 Shares) and Höegh LNG Holdings Ltd (24,750,000 Shares). This Tranche has closed.

    Tranche B consisted of 11,000,000 new shares and was placed with a group of institutional and other professional investors on 8 November. Tranche B will close today, November 13, 2018.

    The Company will, once Tranche B is closed, have an issued share capital of USD 110,000,000 divided into 110,000,000 common shares, each with a nominal value of USD 1.00. Stolt-Nielsen LNG Holdings Ltd. will hold 45% of the shares, each of Golar LNG Limited and Höegh LNG Holdings Limited will hold 22.5% while the remainder will be initially held by the subscribers in Tranche B.

    The Company's shares will be listed on the N-OTC list with effect from November 14, 2018.

    Clarksons Platou Securities AS, Danske Bank Norwegian branch, DNB Markets, a part of DNB Bank ASA, Fearnley Securities AS, Nordea Bank Abp. Filial Norge, Pareto Securities AS, Swedbank Norge, branch of Swedbank AB (Publ.) in cooperation with Kepler Cheuvreux and Skandinaviska Enskilda Banken AB (publ.) (Oslo Branch) acted as managers in the Private Placement.




2018 December 11

13:15 Throughput of port Kavkaz in 11M’18 grew by 13% Y-o-Y to 45.61 million tonnes
13:02 COSCO SHIPPING Ports and Abu Dhabi Ports inaugurate CSP Abu Dhabi Terminal
12:46 Throughput of Russian seaports in 11M’18 grew by 4.2% to 746.81 million tonnes
12:13 Alfa Laval sells more than 100 GCU units for LNG newbuilds
12:01 Overseas Shipholding Group and American Shipping Company jointly announce extension of tanker charters
11:44 One icebreaker escort operation performed in eastern part of Gulf of Finland during 24 hours on December 10-11
11:40 The second phase of IMO-implemented safe and sustainable ship recycling project in Bangladesh starts
11:17 Bunker prices are flat at the Far East ports of Russia (graph)
10:58 NYK сoncludes long-term charter agreement for three LNG carriers with MC
10:30 MAN Cryo and partners develop marine liquid-hydrogen fuel-gas system
10:05 Port of Gdansk reports new quarterly record
09:39 Brent Crude futures price up 0.37% to $60.19, Light Sweet Crude – up 0.31% to $51.16
09:16 Baltic Dry Index is up to 1,385 points

2018 December 10

18:08 US major retail container ports imports reach 2 million containers in October 2018
17:50 Taganrog Sea Commercial Port spent USD 67,300 for its environmental programme in 9M’2018, up 6% YoY
17:27 Icebreakers of FSUE Rosmorport assisted 322 ships in navigation season 2018-2019
17:06 Nexans awarded contract for the manufacturing, delivery and installation of 350 kV HVDC submarine cable in the Philippines
16:49 Throughput of port Riga (Latvia) in 11M’18 climbed by 6.5% Y-o-Y to 33.1 million tonnes
16:33 Konstantin Ponomarev appointed as head of RS Nuclear Ships Branch
16:10 Ship Recycling Transparency Initiative launches new online platform
15:58 MOL to participate in construction, ownership, operation of FSRU for Jawa 1 gas-fired IPP project in Indonesia
15:52 MOL LNG сarrier LNG Fukurokuju rescues castaway
15:26 Gasum consolidates its position as the leading Nordic LNG provider
14:58 NIBULON Shipbuilding and Repair Yard adds a new high-capacity German crane to its cranes
14:25 BIMCO publishes two 2020 sulphur clauses
14:00 Average wholesale prices for М-100 HFO down to RUB 16,794 in RF spot market
13:09 EU NAVFOR marks 10 years of operations
12:44 Pertti Korhonen to chair Traffic Management Finland BoD
12:07 Incheon Port container traffic increases by 10.4% in October 2018
11:51 Beginning of icebreaker assistance period announced at Big Port St. Petersburg
11:30 Cargo traffic in Volga Basin of Russia’s IWW in navigation season 2018 fell by 14.6% Y-o-Y to 36.662 million tonnes
11:07 Verifavia Shipping signs cooperations with 8 ROs to support IMO DCS verification
10:48 Port of Liepaja (Latvia) handled 6.89 million tonnes of cargo in 11M'18, up 13.8% Y-o-Y
10:24 Port of HaminaKotka throughput in 11M’2018 grew by 11.5% Y-o-Y to 14.89 million tonnes
10:07 Oman signs Jeddah Amendment on illicit maritime activity
09:45 Brent Crude futures price up 0.45% to $61.95, Light Sweet Crude – up 0.17% to $52.52
09:19 Baltic Dry Index is up to 1,372 points
09:07 CMA CGM announces FAK rates from Asia to the Middle East Gulf
08:07 Torqeedo displays 2019’s new electric boating products at Salon Nautique International de Paris
07:34 chainPORT concludes its 4th Annual Meeting at the Port of Barcelona

2018 December 9

17:01 Jan De Nul starts beach protection project in Benin
16:06 MOL to participate in construction, ownership, operation of FSRU for Jawa 1 Gas-Fired IPP Project in Indonesia
14:40 Coast Guard continues search for survivors of capsized migrant vessel off Dominican Republic
13:38 CMA CGM announces FAK rates for Asia-Middle East Gulf trade
11:39 MHI Vestas clinches largest MW turbine order for Scotland's Moray Firth

2018 December 8

17:15 Huntington Ingalls Industries names Herman Shelanski as new VP, Business Development at it's shipbuilding division
16:07 Gladding-Hearn built pilot boat delivered to Southwest Alaska Pilots Association
13:12 EGCSA blasts MPA's ban on open-loop scrubbers in Singapore
10:28 Torqeedo displays 2019’s new electric boating products at Salon Nautique International de Paris.

2018 December 7

18:01 Naming ceremony for Arctic condensate tanker Boris Sokolov held at Guangzhou Shipyard International
17:38 Tellurian and Vitol sign MOU for 15-year LNG sale on JKM
17:14 Port of Tallinn rewards emission-reducing ships with a discount of up to 8% on tonnage fees
16:50 Vladimir Putin presents Captain Zybko with Distinguished Maritime Service Order
16:26 BSAP updates move forward at HELCOM key meeting
16:02 Orange Business Services keeps Arctic Shipping Company fleet connected along the Northern Sea Route
15:37 EU NAVFOR promotes maritime security dialogue in Somalia
14:59 Protection structures to be built at the port of Sochi
14:25 Northern Fleet's frigate Admiral Gorshkov takes part in training in the Barents Sea
14:08 ABS signs MOU with KOMERI to create a new facility dedicated to improving the safety of LNG as fuel
13:08 Crowley adds 400 new refrigerated containers to its fleet