Page 15 - GLNG Week 30 2021

GLNG NEWS IN BRIEF GLNG

AMERICAS provide advice to the committee. received verification as an alternative power
Pieridae has not set a definitive schedule to source for vessels as part of the American
Pieridae Energy announces complete its identification, examination and Bureau of Shipping’s (ABS) New Technology
Qualification (NTQ) service. This progress
consideration of strategic alternatives. It is the
initiation of strategic Company’s current intention not to disclose is a testament to Bloom Energy’s industry
developments with respect to the process
leadership in providing clean, reliable power
review process unless and until its Board of Directors has through its flexible platform technology
that can seamlessly adapt to future-forward
approved a specific transaction or otherwise
Pieridae Energy today announced the determines that disclosure is necessary or applications.
company has initiated a formal process appropriate. We caution that there are no The opportunity for fuel cell-powered
to identify, examine and consider a range assurances or guarantees that the process will ships has accelerated in recent years, as
of strategic alternatives with a view to result in a transaction or, if a transaction is the International Maritime Organization
enhancing shareholder value. Such strategic undertaken, the terms or timing of such a (IMO) set aggressive environmental targets
alternatives may include, but are not limited transaction. to combat climate change. A key objective
to, a corporate sale, merger, a sale of a Due to today’s announcement and the for international shipping under the IMO’s
material portion of Pieridae’s assets or other company’s press release on July 2 relating mandate is to reduce greenhouse gas
transactions. to reviewing strategic alternatives for the emissions by half compared to 2008 levels.
Pieridae is also pleased to announce the Goldboro LNG project, Pieridae will defer New technologies and power sources for
appointment of Adam Gray as interim chief its August 12 Q2 investor call. We will shipping, like fuel cells, are recognized as
financial officer. communicate any further, material updates at viable carbon-reducing solutions to achieving
Pieridae’s board of directors has authorised the appropriate time. the IMO’s environmental goals.
the creation of a special committee, chaired PIERIDAE ENERGY, July 26, 2021 BLOOM ENERGY, July 30, 2021
by board member Andrew Judson, that
will review and evaluate potential strategic Bloom Energy achieves
alternatives and transactions. ASIA
“We are taking this step with the focus of key milestones on its path
ensuring shareholder value is maximized,” New LNG carrier Diamond
said Pieridae chief executive officer Alfred to decarbonise the marine
Sorensen. “Shareholders and the company Gas Victoria delivered
have invested heavily in the Goldboro LNG industry
project for a number of years and we have On July 28, the liquefied natural gas (LNG)
acquired and consolidated a large base of Bloom Energy today announced the carrier Diamond Gas Victoria was delivered.
Foothills upstream assets, so it is prudent for achievement of two key milestones on its The new ship will transport LNG from British
us to look for ways to ensure an appropriate path to decarbonise a centuries-old maritime Columbia for the LNG Canada project, as
return is found for the investments made to industry. In conjunction with Samsung well as from other locations around the world,
date.” Heavy Industries (SHI), the companies’ under a long-term time-charter contract with
Peters & Co. Limited has been engaged initial design for an engineless, fuel cell- Diamond Gas International, a wholly owned
as financial advisor to advise the special powered liquefied natural gas (LNG) carrier subsidiary of Mitsubishi Corporation (MC),
committee in connection with this has received Approval in Principle (AiP) which has a stake in the LNG Canada project.
comprehensive review and analysis of strategic from DNV, a premier international maritime The vessel was built at Hyundai Samho
alternatives. McCarthy Tétrault LLP will also classification society. Bloom Energy also Heavy Industries and is owned by NYK, Asia
LNG Transport Dua Sdn. Bhd. (ALT Dua),
and MC through the joint venture Diamond
LNG Shipping 6. The NYK Group will be
responsible for ship management.
Diamond Gas Victoria is equipped with a
state-of-the-art WinGD-made dual-fuel slow-
speed diesel engine (i.e., X-DF diesel engine)
that has superior fuel-consumption efficiency
and can operate on marine gas oil or boil off
gas stored in the cargo tank. The vessel will
also feature a re-liquefaction system that can
use re-liquefied excess boil-off gas and return
it to the cargo tank.
The cargo tank will be a 174,000 cubic
metre capacity membrane-type tank that will
make use of advanced insulating materials to
suppress the boil-off rate (percentage of gas
volume that vaporises during navigation) in
the cargo tank and realise superior efficiency
and economical LNG transportation.
NYK LINE, July 29, 2021

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