• 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 October 26

18:03 Port of Klaipeda to get funds for sustainable development and digitization of the port’ management
18:03 Shipping emissions talks stall in London
17:42 34.6 million tonnes loaded in the Port of Klaipeda in 9 months of this year
16:58 Innovative solutions of MAPEI are increasingly widespread in shipbuilding
16:34 Kalmar continues long-term collaboration with Patrick Terminals with new order for AutoStrads
16:10 Average spot market price for Russian M100 product rose to RUB 12,430 pmt
15:46 Royal IHC and Suez Canal Authority successfully launch CSD HUSSEIN TANTAWY
15:34 EPS secures 15-year TC from STL for four dual fuel VLECs
14:52 RF Prime Minister approves list of checkpoints that can be crossed by foreigners with e-visas
14:31 Ocean Network Express to launch new intra Asia service
14:03 Port of Helsinki passenger traffic down 53.9% to 4.1 million in Jan-Sept 2020
13:06 Passenger turnover in Russian ports plunged by 73.9% in 9M’2020
12:59 ICS welcomes legally binding agreement to significantly improve the carbon efficiency of shipping
12:37 Delo Group and Russian Railways signed Agreement on cooperation in organization of rail container transportation
11:59 Stena Bulk branded class for tanker personnel opened at Admiral Makarov SUMIS
11:58 The Ocean Cleanup introduces first product made with ocean plastic pollution
11:30 NIBULON ranks first among Ukrainian shipyards
10:31 EMA and Keppel jointly awarded a research grant to pilot Singapore’s first floating Energy Storage System
10:15 Admiralteiskie Verfi shipyard delivered diesel-electric submarine Volkhov to RF Navy
09:50 MABUX: Bunker Market this morning, Oct 26
09:26 Oil market starts week with decreasing prices
09:09 Baltic Dry Index as of October 23

2020 October 25

15:27 USCG: Oil spill cleanup of Delaware Bay coastline continues
14:53 Richmond Council to host first public meeting with Hammersmith Bridge Taskforce
14:38 Deep water berth extension at Port of Halifax fully operational
13:27 Gothenburg Port Authority's Elvir Dzanic named as a member of Electrification Commission
12:43 Maritime NZ welcomes report to MPI
12:18 Oil spill response equipment and vessel rates in Singapore
11:04 GPA holds first virtual State of the Port

2020 October 24

15:47 Ocean transport of the first lot of railway coach to Myanmar completed
14:51 OOCL announces services changes and enhancements on Asia-Europe trade
13:28 Port Authority launches new campaign against litter
12:41 Hapag-Lloyd announces Ocean Tariff rates on East Asia - NEC and Mediterranean trade
11:06 CSD Hussein Tantawy successfully launched at IHC's shipyard in The Netherlands

2020 October 23

18:09 Baltic Data Flows: New HELCOM project seeks to harmonize and harvest environmental data at a pan-Baltic level
17:47 ICS welcomes legally binding agreement to significantly improve carbon efficiency of shipping
17:10 Anti-submarine ship Vice-Admiral Kulakov completes its business call to Greece
16:32 Bollinger Shipyards delivers 41ST fast response cutter to the U.S. Coast Guard
16:05 APM Terminals Poti signs a contract with Poti New Terminals Corporation for the development of dry bulk facility in the Poti Sea Port
15:31 HySHIP project clinches EUR 8M funding award
15:13 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Mercury
14:50 Self-propelled crane built for RF Navy’s Pacific Fleet arrived in Vladivostok having passed the Northern Sea Route
14:25 Equinor changes chief financial officer
14:06 Membrane technologies of GTT is an optimal solution for gas carriers, LNG bunkering and storage
13:23 MarineMax participates in the Fort Lauderdale International Boat Show
13:05 Wärtsilä selected to power new ‘super ferries’ series for P&O Ferries
12:55 An agreement made to explore the possibilities of green hydrogen export from Iceland to Rotterdam
12:04 Tallink Silja AB is forced to issue redundancy notice to Swedish crew members
11:41 Tallink to become the first shipping company to receive Sustainable Travel Finland label
11:09 Austal to further expand Australia support business through acquisition of BSE Maritime Solutions
10:53 NYK to make Gazocean a wholly owned subsidiary
10:19 Bunker market sees slight change of prices in the Port of Saint-Petersburg, Russia (graph)
09:55 National Gas Vehicle Association to propose priority measures for LNG bunkering support
09:33 Oil prices continue decreasing
09:18 Baltic Dry Index as of October 22
08:49 MABUX: Bunker market this morning, Oct 23
08:19 CMA CGM announces GRR from Asia to West Africa

2020 October 22

19:00 “K”Line online training for seafarers obtained DNV GL certification
18:04 Milaha reports QR 384 million in net profit for the nine months of 2020
17:41 Port of Los Angeles receives $9.9 million infrastructure development grant