U.S.-based gas-to-power developer New Fortress Energy has executed a term loan facility secured by eight of the company’s vessels. Illustration only; Courtesy of New Fortress Energy Initially, NFE made a borrow of $430 million. It can now borrow up to $725 million under the shipping facility. The shipping facility has
The classification society American Bureau of Shipping (ABS) has granted approval in principle (AiP) to French engineering firm GTT and Finnish ship designer Deltamarin for the Aframax LNG tanker design. Illustration only: Deltamarin and GTT Newcastlemax bulk carrier design; Courtesy of Deltamarin The ABS approval warrants that the onboard integration
U.S. LNG project developer Tellurian has appointed James D. Bennett as a new independent board member. Tellurian names James D. Bennett to Board of Directors; Courtesy of Business Wire Energy and financial industry veteran James D. Bennett served as the former president and CEO of SandRidge Energy. Previously, he held
Anglo-Dutch energy major Shell has awarded a contract to Penguin International Ltd, a Singapore-based designer, builder and owner of aluminium high-speed craft, to design, build, and operate at least three pure electric ferries and shore chargers in Singapore. Courtesy of Penguin/Incat Crowther UK Once operational, the newbuilds will be the
Lloyd’s Register (LR), Korea Shipbuilding & Offshore Engineering (KSOE) and Hyundai Heavy Industries (HHI) have signed a Memorandum of Understanding (MoU) to develop digital twin technology for an LNG carrier. The agreement was signed at Gastech 2021 to support the digitalisation of the maritime industry and the growing demand for
Turkish tugboat design company Navtek Naval Technologies has proven the design and operational performance of their first ZEETUG, the zero-emission electric tugboat. Courtesy of Navtek Navtek developed, designed, built, and delivered the ZEETUG Gisas Power in early 2020. The company says it is the world’s first rechargeable and fully electric-powered
New York-based gas-to-power developer New Fortress Energy has finalised a contract with Sri Lanka’s government to construct a new offshore LNG receiving, storage and regasification terminal. Illustration only; Courtesy of NFE The parties have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (WCP). WPC is
Finnish technology group Wärtsilä and Korean shipbuilder Samsung Heavy Industries (SHI) have signed a joint development programme (JDP) agreement aimed at developing ammonia-fuelled vessels with 4-stroke auxiliary engines available for future newbuild projects. As explained, both parties have recognised the importance of future carbon-free fuels in the marine industry’s drive
Poland’s Energy Regulatory Office (ERO) and the Danish Utility Regulator (DUR) have signed a Memorandum of Understanding (MoU) on joint activities for the Baltic Pipe project. The parties agreed to exchange information on all circumstances and activities that may affect the proper implementation of European Union law with regard to the infrastructure
Russian Arctic LNG 2 projects’ EPC contractor, a joint venture of Technip Energies, Saipem and NIPIGAS, has delivered the first modules for LNG Train 1. Courtesy of Novatek Located in the Arctic zone of Russia, the Arctic LNG 2 project wants to construct three LNG liquefaction trains of 6.6 million