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June 2006 57 Qatar Orders World's Largest LNG Ships Qatar Gas Transport Company (Nakilat) signed a contract with two South Korean shipbuilders to construct the world's largest liquified natural gas (LNG) carriers at a cost of $2.5bn, according to a report from The Peninsula/Agencies. Nakilat said in a statement that it has ordered three "QMax" LNG carriers with a capacity of 265,000 cu. m. (9.3 million cu. ft.) each from Daewoo Shipbuilding and Marine, and another three from Samsung Heavy Industries. The carriers reportedly will be the largest in the world in terms of capacity, the statement said. The carriers will be leased to Qatar Liquefied Gas Company, a joint venture between Qatar Petroleum and energy giant ExxonMobil, to transport LNG from one of their largest projects at the North Field, estimated to contain nearly 10 per cent of the world's proven gas reserves. Nakilat is reportedly expected to acquire a total of 61 liquefied natural gas (LNG) vessels worth $16bn up until 2010. Qatargas-2, (QG2) and Nakilat, according to the report, signed a 25-year time-charter for six "QMax" LNG carri- ers of approximately 265,000 cu. m. car- rying capacity each. In addition to the 100 percent owned six ships, Nakilat has 30 to 60 percent equity interest in another 28 LNG carri- ers that have either been delivered or on order to service Qatar's LNG projects, including the earlier QG-2 vessels. The six first-ever double hull QMax ships have been designed with state of the art safety features, such as an 80 year inner hull fatigue life combined with pri- mary and secondary membrane barriers for LNG containment. Quintana Buys 17 Ships for $735 Million Quintana Maritime Ltd. is reportedly buying 17 ships from a private Greek shipowner for about $735 million. The fleet, purchased from Metrobulk report- edly includes three Panamaxes and 14 Kamsarmax bulkers. Petroleos de Venezuela Orders 18 Tankers Petroleos de Venezuela SA said it will buy 18 oil tankers from China for $1.3b as South America's largest oil firm seeks to boost exports to Asia. Orders for the tankers were placed with China State Shipbuilding Corp., and China Shipbuilding Industry Corp. A timetable wasn't provided for deliveries. Stena Vision Repair Prolonged Arlington Tankers was notified by its vessel manager, Northern Marine Management (Northern Marine), that one of its two VLCC tankers, the Stena Vision, built in 2001, will now start a prolonged period of repair due to an engine maintenance program. The 314,000 metric dwt vessel was undergo- ing a scheduled dry-dock period when it was determined that the repair was nec- essary, and that the vessel will be out of service for several months. Stena Vision is currently on a long- term time charter to Concordia Maritime AB (Concordia) of Sweden until November 2009. The daily basic charter rate for the Stena Vision for 2006 is $36,075. Under the terms of its agree- ments, during the period of repair, the company will continue to receive its full contractual charter hire and pay its con- tractual vessel management fees. When so much relies on your steering, don’t compromise. Choose Jastram! Setting the standard in marine steering excellence Complete marine steering systems for all types of boats and ships 135 Riverside Drive North Vancouver, B.C. Canada V7H 1T6 Tel: (604) 988-1111 Fax: (604) 986-0334 e-mail: marketing@jastram.com www.jastram.com Circle 274 on Reader Service Card Circle 250 on Reader Service Card Circle 240 on Reader Service Card MARINE GLASS— FOR SAFETY AND SECURITY ON THE SEAS M ARINE GLASS offers exceptional safety and security in passenger vessels, work boats, and military applications. Bonded with tough high performance interlayers, Marine Glass laminates can be designed to provide effective ballistics, bomb and blast protection, as well as security and storm protection. This toughened, high performance glass is available in flat or bent configurations and resists moisture, water vapor, chemical attack, and UV. Clear or tinted glass is available. ProCurve Glass Technology, LLC 3535 Davisville Road Hatboro, PA 19040 U.S.A. 215- 441-9101 Fax 215-441-9190 e-mail: procurveglass@nni.com www.procurveglass.com See us at these upcoming shows: IBEX in Miami at # 2261, Ft. Lauderdale BS at Designer’s Tent, & WorkBoat Show in New Orleans at # 482 2006WorldYearbook2006WorldYearbook2006WorldYearbook Circle 281 on Reader Service Card MR JUNE2006 #8 (57-64).qxd 6/5/2006 10:10 AM Page 57
