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STX Shipbuilding Sits on the Edge of a Nearly Half-Billion Dollar Deal
Image: StealthGas STX Offshore and Shipbuilding announced this week a signed $120 million Letter of Intent (LOI) with an unnamed Greek owner to build two 6,500-CBM LPG vessels in Busan, Korea....
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Great Eastern Shipping Sells 21 Year Old LPG Carrier
Jag Viraj, image via Marinetraffic.com India’s Great Eastern Shipping Co Ltd. has signed a contract to sell “Jag Viraj”, a Liquefied Petroleum Gas (LPG) carrier. The 1991-built vessel of about 17,500...
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Lehman to Sell Stake in Gas Carrier Business for $110 Million
Navigator Aries, a 20,750 m3 semi-pressurised/fully refrigerated (semi-ref) LPG carrier The trustee unwinding Lehman Brothers Holdings‘ brokerage business has agreed to sell the company’s stake in a...
View ArticleFrontline 2012 Sees Hope in LPG
John Fredriksen’s Frontline 2012 announced Monday that the company has placed an order for two VLGC’s marking the recently spun off tanker company’s entrance into the seemingly promising LPG market. In...
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Rust-Covered LPG Carrier Catches Fire Off Phuket
Kantika, image via Phuket News Is anyone surprised that an LPG carrier covered in this much rust, also has a cloud of smoke billowing from its wheelhouse? This is the Kantika, an 80-meter long LPG...
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Five Killed in Gas Leak On Board LPG Carrier
MV Maharshi Krishnatrya Update: The Times of India has reported that the five sailors died of asphyxiation as a result of the gas leak. Original: Five crew members of an Indian-flagged LPG carrier...
View ArticleTeekay LNG and EXMAR Form LPG Joint Venture
Teekay LNG (NYSE:TGP) and Antwerp-based EXMAR (EXM:BB) announced Wednesday plans to create a new 50/50 joint venture that will operate in the midsized LPG Carrier segment in a bid to take advantage of...
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Anthony Veder Orders Wärtsilä Dual Fuel Engines for Pair of Newbuild LEG/LPG...
Controllable Pitch Propeller by Wartsila Wärtsilä announced today they have been contracted to supply the complete dual-fuel propulsion package for two 4700 CBM Liquefied Ethylene Gas (LEG)/Liquefied...
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LPG Tankers to Gain on U.S. Shale Boom, Says Clarkson
File photo of a LPG carrier. Image: NYK Lines By Isaac Arnsdorf (Bloomberg) — Tankers hauling liquefied petroleum gas will gain as shale oil and gas production boosts U.S. exports and fleet growth...
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With Cheap LPG, U.S. is Set to Become Net Exporter for First Year Ever
The LPG carrier AYAME, image via Slecter/wikipedia The U.S. is poised to become a net exporter of liquefied petroleum gases for the first year ever as shale-based energy production jumps, prompting...
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Singapore Considers Huge New LNG Storage Tank to Support Q-Max Cargoes
A Q-Max LNG Carrier, image: QatarGas (Bloomberg) — Singapore LNG Corp.’s fourth gas storage tank may have 260,000 cubic meters of capacity, enough to fit four A380 jumbo jets, the company’s chief...
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StealthGas Redeploys Fleet of LPG Ships to U.S. as Huge New Market Develops
Stealth Ice LPG carrier, image: StealthGas (Bloomberg) — Record U.S. exports of liquefied petroleum gas are spurring StealthGas Inc. to redeploy tankers as far as 13,500 miles to take advantage of one...
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StealthGas To Fund LPG Fleet Expansion Through Share Offering
Sir Ivor, a Stealth Gas-owned 5,000 cbm LPG carrier. Image: Stealth Gas StealthGas Inc. (NASDAQ:GASS) announced today their plans to offer 8,000,000 shares of its common stock in order to partially...
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SEACOR Orders Pair of VLGCs from Hyundai Heavy
British Confidence, a VLGC owned by BP Shipping, image: BP After a $10.9 million loss in the first quarter this year, SEACOR Holdings’ (NYSE:CKH) Executive Chairman of the Board, Charles Fabrikant was...
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Day Rates for LPG Carriers Hit 7-Month High as U.S. Cargoes Expand
Sir Ivor, a Stealth Gas-owned 5,000 cbm LPG carrier. Image: Stealth Gas (Bloomberg) — Earnings for the largest ships hauling liquefied petroleum gases such as propane rose to the highest in seven...
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LPG Carrier Rates Could See Biggest Weekly Gain Ever
VLGC Aintree, image (c) Petredec (Bloomberg) — The cost of shipping liquefied petroleum gas headed for the biggest weekly gain on record as surging U.S. exports of the cooking fuel and chemicals...
View ArticleNippon Yusen Soars as LPG Rates Rise Most on Record
Chris Cooper and Kiyotaka Matsuda May 20 (Bloomberg) — Nippon Yusen K.K., the world’s largest publicly traded operator of liquefied petroleum gas ships, surged the most in more than four years in Tokyo...
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Exmar Predicts Record Year for LPG Carriers
May 21 (Bloomberg) — Costs to ship liquefied petroleum gas will exceed the 2008 record as the U.S. expands exports amid rising demand in Latin America and India, according to Exmar NV, the operator of...
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Sasaki Shipyard Wins LPG Tanker Newbuild Orders
Singapore-based LPG shipper, Epic Pantheon International Gas Shipping Ltd. has contracted Sasaki Shipyard to build two 5,000cbm fully-pressurised LPG carriers. The vessels are scheduled to be delivered...
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Maersk Tankers Exits Gas Carrier Market, Sells Fleet to BW Group
(Bloomberg) — BW Group Ltd., the biggest owner of the largest liquefied petroleum gas carriers, will expand its fleet with ships valued at as much as $605 million as record trade in the fuel lifts...
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