TGE Marine Wins Several New Contracts for LEG and LNG Carriers

 

During the last couple of weeks TGE Marine has obtained a number of new contracts for the engineering and delivery of gas handling systems and cargo tanks.

In September contracts were signed with Hyundai Mipo Dockyard (HMD) for the supply of gas plants as well as cargo tanks for 5 × 12,000 cbm LEG-carriers. The ships were ordered by Greek Eletson Group and will be delivered in 2015 and 2016. This is the first time that HMD has secured an order in the ethylene-carrier segment of the gas carrier market.

In August a further contract was signed with Xinle Shipyard and CSR for the supply of the gas handling system for a 30,000 cbm LNG-carrier to be constructed at the Xinle facilities in Ningbo. This is the third consecutive order for TGE Marine in China for the new generation of 30k-class LNG-carriers with type C cargo tanks.

In July and August TGE Marine was contracted by Jiangnan Shipyard to supply the gas handling systems and cargo tank packages for another 21,000 cbm LEG- as well as 2 × 22,000 cbm LPG-carriers for Navigator Gas. These new orders increase the total number of gas carrier references with Jiangnan to 28 units.

TGE Marine’s CEO, Manfred Küver, commented: “Being awarded 9 new contracts for the supply of gas plants and cargo tanks underlines TGE Marine’s leading market position in the LEG- and small scale LNG-segment of the gas carrier market. We are extremely pleased to have been selected by HMD as partner for its first contracts in the ethylene niche market. With three small LNG-carriers ranging from 6,5k to 15,6k in operation and three units of 30k under construction in China, we are in a strong position to participate as engineering contractor in the growing LNG market.”

TGE, October 31, 2013

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