rss icon Subscribe
desktop mobile

Golar Spins Off TFDE LNG Biz

Pic: Golar LNG

Shailaja A. Lakshmi

Liquefied natural gas (LNG) shipper Golar announced that it has decided to proceed with a spin-off of its Tri-Fuel Diesel Electric (TFDE) LNG carrier business as well as to focus its activities primarily on floating liquefied natural gas (FLNG) and downstream assets.

According to a stock exchange announcement, this will allow LNG shipping investors more direct exposure to the LNG shipping market and reposition Golar's core business toward LNG infrastructure on long-term contracts.

Golar are in talks with other owners of similar tonnage to join the new shipping company and have discussed with Golar Power exchanging one of their LNG carriers for the FSRU Golar Tundra.

Management of Golar's vessels will remain with Golar Management Norway AS, it said.

Assuming the joint structure proceeds as planned, Golar's direct exposure to the carrier market will then be limited to one modern steam turbine vessel, Golar Arctic, with Golar Viking contracted to be sold in 2020 post FSRU conversion.

May 21, 2019

 

People & Company News

FMS Names Trond Prestroenning as CEO

Trond Prestroenning. Photo: ©Fr. Meyer’s Sohn

Fr. Meyer's Sohn (FMS), a global forwarding company for sea freight, announced that Trond

Maritime Anti-Corruption Network Links to SDGs

Pic: MACN

The activities of Maritime Anti-Corruption Network (MACN)  align closely with the United Nations’

Orolia Maritime Signs Multi-Year Contract with Kongsberg

Photo: Orolia

Orolia Maritime has announced it has signed a multi-year contract with Kongsberg Maritime

Legal

Maritime Anti-Corruption Network Links to SDGs

The activities of Maritime Anti-Corruption Network (MACN)  align closely with the United Nations’ Sustainable Development Goals (SDGs)—the definitive, internationallyrecognized

Bourbon BoD to Analyze Restructuring Proposals

File Image: CREDIT Bourbon

Following the submission of financial restructuring proposals subject to conditions precedent

Hapag-Lloyd Shareholders Change Stake

Graphics: Hapag-Lloyd AG

German-based international cargo container shipping line Hapag-Lloyd AG announced an increased

Maritime Apps