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LNG South Koreans eye GTT

Several South Korean companies are considering bids for the French LNG membrane containment system design company GTT (formerly known as Gaztransport & Technigaz). Philippe Berterottierre, president and CEO of GTT

said four major yards, DSME (Daewoo Shipbuilding & Marine Engineering), Samsung Heavy Industries (SHI), Hyundai Heavy Industries (HHI) and STX, along with Korean gas major Kogas, are interested in buying GTT. “Te buyer will have a 95% market share just by buying GTT”, he added. DSME, SHI and HHI are reportedly considering

a joint bid for GTT, but confirmation of any bids will come at a much later date Berterottierre said. He added that “Non-disclosure documents are currently being put together… shareholders would be interested at the right price, around US$1-1.5billion”. SHI, which builds GTT’s MKIII system under

licence, and GTT had been locked in a dispute over the Korean’s new membrane containment which the French company suggested had taken significant elements of the GTT design. However, Te Naval Architect understands that these discussions are now on hold. “SHI alone accounts for half of GTT’s current

orderbook,” Berterottierre pointed out, adding there was little point in getting into conflict with a major customer. But he said: “we are vigilant, if SHI makes a sale [of the SCA system] then litigation could follow”. GDF Suez, a 40% shareholder in GTT with Total

and investment fund Hellman & Friedman LLC, both 30% shareholders, are said to be ready to sell following a lull in the LNG shipbuilding market during 2009 and 2010, an upturn in orders meant that Hellman was reportedly ready to cash in on its asset and its shareholding partners agreed it was the right time to sell.

Bulk carriers Crown 63 takes a bow

Sea trials of the first Crown 63, 63,500dwt bulk carrier, were successfully completed at the end of last month said the shipbuilder Sinopacific. French owner SETAF took delivery of DY4001, the

lead ship in a series that will see 22 vessels delivered in 2012 alone, shortly aſter the vessel completed the sea trials. Te shipbuilder said the vessel’s speed trial proved to be beyond design predictions, meeting all the guarantee criteria specified in the delivery contract. In comparison to the Crown 58 design _ 58,000dwt bulk carrier – the Crown 63 series will increase


Sea trials of the Crown 63 bulk carrier DY4001 were completed on 18 February and the ship was delivered to SETAF at the end of the month.

deadweight by 9% and reduce fuel consumption by 13% at the same service speed. Jean Labescat, technology general manager at SETAF said: “DY4001 features outstanding performance and its design gives consideration to the owner’s operating benefits,” adding “Crown 63 is with special advantage in the bulk carrier sector and we are looking forward to the next delivery.” Crown 63 has optimised body lines and an

improved bulbous bow design, propeller and rudder bulb improving vessel efficiency significantly, said the yard. By adopting a low-sulphur fuel system, the vessel’s SOx emissions have been reduced and, on this vessel, space has been reserved for the retrofit of a ballast water treatment system. Te vessel has a low-speed, two-stroke electronic

injection diesel engine from Doosan Engine installed which has an electronic injection system that is efficient in reducing fuel consumption as well as NOx emissions.

Shipbuilding LNG orders boost HHI

Hyundai Heavy Industries (HHI) has announced that it has taken orders for four LNG carriers and one LNG floating storage re-gasification unit worth US$1.1 billion. Orders for two 162,000m3

LNG carriers for Golar

LNG of Norway on 10 February and two similar ships for an unnamed European shipowner on 8 February make up the carrier element of the orders. Te contract with Golar LNG includes an option

exercisable by the Norwegian company for two additional vessels of the same size. Te Golar vessels will be built by Hyundai Samho Heavy Industries, an HHI affiliate. Tese membrane-type LNG carriers, scheduled to

be delivered between the second quarter of 2014 and the first half of 2015, will feature the Dual Fuel Diesel Engine System (DFDE) which allows the ships to run on oil fuel or natural gas.

The Naval Architect March 2012

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