• 2020 January 2 14:19

    GEV announces extension of shipyard LoI & project update

    Global  Energy  Ventures  Ltd  (ASX: GEV,  the Company),  the  leading  developer  of  global  integrated  marine compressed  natural  gas  (CNG)  projects, announced an  extension of our  a Letter  of  Intent  (LOI)  with Yantai CIMC  Raffles  Offshore,  Ltd  (‘CIMC  Raffles’)  to  build  the CNG Optimum  200 ships. The  extension  is  for  six months through to 30 June2020.The LOI is based ona firm order for four (4) 200MMscf Compressed Natural Gas (CNG) shipswith the option for GEV to order up to an additional four (4) ships. The parties have executed theLOI, with the   intention   of   entering   a   Shipbuilding   Engineering,   Procurement   &   Construction(EPC)   contract, employing GEV’s CNG Optimum design, GEV said in its press release.

    Key highlights:

    • Six  month  extension  to  the Letter  of  Intent  (LOI)  with  Yantai  CIMC  Raffles  Offshore  Limited  (CIMC Raffles) to build the CNG Optimum 200MMscf ship.
    • No  change  to  the contract  price  range  of  USD  135-140  million  per  shipor  delivery  schedule  of  30 months for the first ship.
    • GEV and CIMC Raffles continue towork towards a binding shipbuildingEngineering, Procurement &  Construction  (EPC)  contract,  employing  GEV’s  CNG  Optimum  design,  for  four  (4)  firm  CNG Optimum ships, with the option for GEV to order up to an addition four (4) ships.
    • GEV  and  CIMC  Raffles  Group  also  jointly  working  on  process  engineering  and  areas  of  detailed design for the entire CNG supply chain as part of the recently announced Strategic Alliance.
    • CNG Commercialisation Study now underway for an in-development offshore field in the Pre-salt Brazil, with scheduled completion in March 2020.
    • Due Diligence continues to define a proposal for anew CNG export project from the US Gulf Coast to Mexico and other markets in the Caribbean.

    Executive  Chairman  and  CEO  Maurice  Brand commented: “GEV  is  delighted  to  be  working with  theCIMC  Raffles group of companies as we progress a number of CNG project opportunities. The extension of the LOI with no change to the terms is a strong endorsement of the quality of our projects and progress being made by our team.”

    GEV  would  also  like  to thank  all  shareholders  and  advisors  for  their  support  of  the  Company  during  2019. Management remainconfident in the commercialisation of the CNG Optimum ship together with our “pipe to pipe” gas  transport model which continues  to  gain  momentum  in  the  Brazil  offshore  gas  market  with  the  first  CNG Commercialisation  Study  due  for  completion  in  the  March  quarter 2020.  Our  due  diligence  on  the  recently announced US Gulf Coast offshore export facility is nearing completion and we expect to make an update early in the current quarter.”

    CIMC  Raffles  has  a  successful  track  record  of  delivering  in  excess  of  USD  6  Billion  in  EPC  contracts  since  2012, experience  with  CNG  systems,  and  moving  forward,  their  scale  of  operations  with  three  yards  will  support  our growth aspirations of multiple CNG projects requiring shipbuilding contracts.




2020 February 29

12:27 Huntington Ingalls reaches important milestone in construction of CVN 79
11:47 USCG conducts operation at U.S. Virgin Islands ferry terminals
10:51 Sanmar delivers Robert Allan-designed ASD tug to Rimorchiatori Riuniti
08:07 BW LPG declares option for additional LPG dual-fuel engines, bringing total investment to twelve
07:03 CMA CGM announces FAK rates from Asia to North Europe

2020 February 28

18:17 CMA CGM announces FAK rates from North Europe to Canada
18:12 Onezhsky Shipyard launches second hybrid workboat for Rosmorport
17:30 COSCO SHIPPING successfully completes the first bauxite shipping mission for CHINALCO’s project in Guinea
17:06 CMA CGM announces FAK rates from North Europe to USEC, USGULF and USWC
16:54 Glavgosexpertiza approved construction of Arctic LNG 2 facilities
16:52 ICHCA International, the International Cargo Handling Coordination Association, and the Association of Bulk Terminal Operators sign MOU
16:11 Shipbuilding and Shiprepair Yard RIF conducted sea trials for its HDP boat of Project Rif-75 PKZ
15:47 LNG fuelled ore carrier proves to be commercially viable, SEA-LNG study shows
15:20 FESCO Board expanded to nine members
14:16 Panahon presence boosts PISR in the Far East
13:49 Norwegian Shipowners' Association issued sustainability reporting guidelines for shipping and offshore industries
13:13 Johan Röstin steps down as CEO of ForSea
12:36 RF Navy's ship Admiral Vladimirsky completed oceanographic research in Bellingshausen Sea
12:10 Polskie LNG launches Open Season Process for Świnoujście LNG Terminal
11:47 Port of Antwerp launches Bulkchain collaboration platform
11:02 Diana Shipping announces the sale of a Capesize dry bulk vessel, the m/v Norfolk
10:41 IMO developed guidelines for taking onboard samples of fuel from ships
10:18 Fincantieri launches the first corvette for Qatar
10:07 Pathways to achieve IMO's Initial GHG Strategy goals discussed at dedicated workshop hosted by WMU
09:40 Brent Crude futures price is down 2.51% to $50.43, Light Sweet Crude – down 2.68% to $45.83
09:29 The construction of new deepwater berths of cruise terminal at Piraeus Port starts
09:21 MABUX: Bunker market this morning, Feb 28
09:14 Baltic Dry Index is down to 529 points
08:32 CMA CGM announces PSS for cargo from North Europe to Asia

2020 February 27

18:05 European yards specify Thordon System as standard for deck machinery
17:48 IMO's GloFouling Partnership project tackles problem of invasive aquatic species in Sri Lanka
17:29 Tallink Grupp reports nearly 25% higher net profit for the full financial year 2019
17:05 AquaTerra acquires Subsea Engineering and Technical Services
16:51 Zelenodolsk Shipyard named after A.M. Gorky laid down passenger ship Chaika LNG
16:35 Vale clarifies incident with contracted vessel
16:04 NYK Cruises to cancel cruises due to coronavirus
15:30 Average physical depreciation of Rosmorport’s berthing facilities is 24%
15:07 National Association of Shipping Agencies addresses FAS over plans on multiple increase of port dues in Russia
14:56 Arbitration award related to purchase options for four VLCCs on charter to Okeanis ECO Tankers
14:43 ASCO strengthened preventive measures against coronavirus
14:19 ASCO takes necessary precautionary measures to prevent environmental damage
13:55 Rotterdam to host ACI’s 24th Ballast Water Management Conference on 7-8 April 2020
13:53 Ørsted signs 20-year lease with Port of Taichung for Greater Changhua offshore wind farms
13:34 Vysotsk VTS obtains Certificate of Conformity
13:12 Xeneta container rates alert: long-term contracted rates hold despite Coronavirus chaos
12:56 Certificate of Conformity obtained for Ust-Luga VTS
12:33 Finnlines published its 2019 Financial Statements and Financial Review
12:10 A.P. Moller - Maersk links new $5.0bn revolving credit facility to its CO2 performance
11:52 Port of Gdynia seeks opportunities for further development
11:28 Rosmorport’s Murmansk Branch performed pilotage of Capesize vessel
11:04 Rosmorport to complete dredging under NOVATEK’s project in Petropavlovsk-Kamchatsky by April 2021
10:41 3rd Technical Conference "Modern Solutions for Hydraulic Engineering" kicks off in Moscow
10:35 Ships of RF Navy’s Baltic Fleet continue performing planned training as part of its long-distance campaign
10:16 Port of Oakland debt ratings affirmed by Fitch
10:13 Brent Crude futures price is down 1.52% to $51.99, Light Sweet Crude – fell to 1.54% to $47.98
09:56 Hydrographic Department to dredge about 20 million cbm of material on Sabetta’s seaway canal in 2020
09:34 Marine Recruiting Agency LLC trained 1,957 specialists in 2019, up 2.6% YoY
09:32 MABUX: Bunker market this morning, Feb 27
09:15 Baltic Dry Index is up to 517 points

2020 February 26

18:37 Royal IHC to supply integrated power cablelay spread