Small-scale LNG company Avenir LNG Ltd marked a milestone in the construction of the world’s largest LNG bunker vessels on 25 January by making its initial progress payments on the two 20,000-m3 ships under construction at Sinopacific Offshore Engineering in Nantong, China.
Avenir LNG signed the contract for the two LNG bunker vessels (LNGBV) in Q4 2018 and made the first progress payments of US$11.2M to the shipyard, according to regulatory filings by Stolt-Nielsen Limited, which has a 45% stake in the company through its investment arm Stolt-Nielsen Gas.
Other major investors in Avenir LNG are Golar LNG and Höegh LNG Holdings Limited, who each hold 22.5% stakes, and institutional and private investors, who hold the remaining 10% interest.
Avenir LNG is also building two dual-fuel 7,500-m3 LNGBV with Keppel Singmarine in Nantong that will be delivered in late 2019 and early 2020. The total cost for both vessels is approximately US$80M, including site team costs and capitalised interest. On 23 August, Avenir LNG exercised options for two more 7,500-m3LNGBVs with Keppel Singmarine at a total cost of US$76M that will be delivered in Q3 and Q4 2020, respectively.
Listed on the Norwegian OTC since 14 November 2018, Avenir LNG plans to become a leading provider of small-scale LNG for the power, ship bunkering, trucking and industrial markets.
Stolt-Nielsen, Golar LNG and Höegh LNG announced a combined investment of US$182M in Avenir LNG in 1 October 2018. The investment, made up of cash and equity-in-kind, is partly funding the construction of the six LNGBVs and an 80% ownership in an LNG terminal and distribution facility under development in the Italian port of Oristano, Sardinia.
Lindblad Expeditions Holdings Inc. announces that it has signed an agreement with Norwegian shipbuilder and ship designer Ulstein to build a new polar vessel. The new ship is scheduled for delivery from Ulstein Verft in Q3 2021. The vessel is sister ship to ‘National Geographic Endurance’, which is under construction.
Lindblad Expeditions Holdings Inc., a global leader of expedition cruises and adventure travel experiences, announced the shipbuilding agreement, expanding the line’s National Geographic polar fleet to four ships.
This state-of-the-art vessel will be the next phase of Lindblad’s fleet expansion following the launches of new builds National Geographic Quest in July 2017, National Geographic Venture in December 2018 and the scheduled delivery of National Geographic Endurance in Q1 2020.
The new ship is scheduled for delivery in Q3 2021. Sister ship to National Geographic Endurance, the polar vessel will be fully stabilized with the highest ice class (PC5 Category A) of any purpose-built passenger vessel, and will feature Ulstein’s signature X-BOW®, a unique design that affords the smoothest, most comfortable ride imaginable, in all sea behavior, which results in greater fuel efficiency and fewer emissions, for reduced environmental impact.
Like its sister ship, the new vessel will accommodate 126 passengers in 69 spacious guest cabins and suites and is being designed to connect guests to their environment and be the ultimate platform for exploration. With 75 percent of the cabins featuring balconies for private viewing, multiple observation decks inside and outside, and “observation wings,” the surrounding environs will always be accessible. Off-ship exploring will be greatly enhanced with an innovative Zodiac loading system that will allow everyone to get ashore quickly and safely, ensuring quick access to every destination. The ship’s complement of expedition tools for exploration will include kayaks, cross-country skis, a remotely operated vehicle, hydrophones, a video microscope, underwater video cameras and more to be announced in the coming months.