• 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 20

18:21 Igor Levitin suggests separating positions of Deputy Transport Minister and head of Rosmorrechflot
18:06 MAN Energy Solutions wins order to supply the engine for a new dredger in southern China
17:53 Workshop aimed at building oil pollution preparedness and response capacity held in the Republic of Guinea
17:36 “K” Line announces delivery of new LPG carrier for Gyxis Corporation
17:18 Atomflot: first delivery of fish by NSR expected in summer-autumn season of 2019
17:04 Diana Shipping announces time charter contract for m/v Sideris GS with Berge Bulk
16:47 Rashid Sharipov as Chairman of the Board of Directors NCSP BoD
16:25 NIBULON Shipbuilding and Repair Yard launched second POSS-115 Project tug
16:04 OOCL announces improvements to Asia – Middle East 1 and Asia – Middle East 3
15:50 Storage area line launched at Vostochny Port’s Phase 3
15:34 New overpass at Maasvlakte 2 opens
15:03 Port of Oakland works to reduce impact of trucks
14:33 The port of Marseille Fos is engaged in reducing shipemissions by developing LNG as a marine fuel
14:03 Teesport Intermodal Rail Terminal celebrates fourth anniversary
13:43 12th Transport of Russia Forum and Exhibition opens in Moscow
13:10 Damen signs with Rimorchiatori Spezzini for two new Damen ASD Tugs 2411
13:02 Bunker prices are going down in the Far East ports of Russia (graph)
12:38 CCCC Dredging supports the 6th Forum of Dredging Companies as its Sponsor
11:54 Concession agreement signed for construction of coal terminal “Lavna”
11:30 OOCL introduces the new West Africa Service 2
10:45 Major ASW ship Severomorsk of RF Navy's Northern Fleet escorts Indian civilian vessel in the Gulf of Aden
10:23 Russian Railways’ BoD makes decision on discounts for cargo transportation in 2019
10:00 Brent Crude futures price down 0.39% to $66.53, Light Sweet Crude – down 0.24% to $57.06
09:19 Baltic Dry Index is down to 1,023 points
08:51 Valenciaport container vilume increased by 4.78% in the last twelve months
07:51 Klaveness Combination Carriers declares option for sixth combination carrier newbuild

2018 November 19

18:37 IMO holds workshop boosting maritime security in Gulf of Guinea
18:05 MOL conducts tabletop drill for LNG carrier
17:49 Hapag-Lloyd to start new Asia – Gulf Service (AGS)
17:43 Busan Port Authority signs Letter of Intent for the Maasvlakte Distribution Park West
17:01 Ocean Network Express expands the partnership of Asia - South America
16:32 BIMCO standard ship repair contracts overhauled
16:05 Port of Hamburg railborne container transport up 4.3 percent in the first nine months of 2018
15:44 FESCO and DB Cargo plan to launch joint transit shipments from China to Europe via Kaliningrad
15:10 Costamare announces the acquisition of the York Capital majority interest in five 14,000 TEU containerships
14:56 Half a billion tones of Kazakhstan oil lifted from CPC Marine Terminal
14:47 Saipem 7000 semi-submersible at Damen Verolme Rotterdam for DPS upgrade
14:33 OpenRisk launches guideline for risk management at sea to improve response to accidental spills
13:59 NCSP Group's consolidated cargo turnover for January-September totaled 105,253 thousand tons
13:11 Average wholesale prices for М-100 HFO down to RUB 19,660 in RF spot market
12:47 ABP invests over £1 million on a rooftop solar project at the Port of Goole
12:18 Damen supports 2nd Dredging and Hydraulic Engineering Structures Congress as its General Sponsor
12:00 The Fjords plans to add another all electric passenger vessel to its fleet
11:36 TOTE Services' Philip Greene Jr. retires next year
11:02 Damen Shipyards Group celebrates Multraship Carrousel RAVE Tug winning KNVTS Ship of the Year Award
10:44 Port of Oakland cargo volume up 3.9 percent in August - October 2018
10:43 Throughput of Port Vysotsky up 9.4% to 6.34 million tonnes in 10M’18
10:19 Brent Crude futures price up 0.69% to $67.22, Light Sweet Crude – up 1.02% to $57.26
09:57 Media Group PortNews issues special edition of its magazine for Transport Week 2018
09:35 Rosmorrechflot reduced operation period of locks in Volga-Don Basin
09:18 Baltic Dry Index is up to 1,031 points

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