Exmar LPG Inks Deal with HHI for LPG Carrier Newbuild

Illustration; Image Courtesy: EXMAR

Exmar LPG, a joint venture of Exmar NV and Teekay LNG Partners, has reached an agreement with South Korean shipbuilder Hyundai Heavy Industries (HHI) to take over and novate an existing newbuilding contract for an LPG carrier.

The 38,000 cbm fully-refrigerated midsize gas carrier (MGC) is scheduled for delivery in the third quarter of 2018, according to Exmar.

“The acquisition is consistent with the Exmar LPG Joint Venture’s strategy of fleet renewal to preserve its market share and contract of affreightment (CoA) franchise with its customers in both the Ammonia and LPG trade,” Teekay LNG Partners said in a separate statement.

The installment payments on the vessel are expected to be financed by Exmar LPG’s existing liquidity and the joint venture expects to secure long-term financing prior to delivery.

Currently, Exmar LPG has three MGC LPG newbuildings on order at Hanjin Subic shipyard in the Philippines. The three 38,000 cbm vessels are expected to join the company’s fleet in 2017 and 2018.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >