Page 14 - GLNG Week 07 2021

GLNG NEWS IN BRIEF GLNG

JAX LNG and TOTE Services and JAXPORT, to reduce emissions while
AMERICAS Volkswagen, JAX LNG, TOTE Services,
Tellurian strengthens conduct their first ship- providing world-class service to the industry.”
TOTE Services operates the Clean
balance sheet, reduces to-ship LNG bunkering of a Jacksonville and has successfully performed
more than 150 bunkering events for TOTE’s
debt by $57mn foreign-flagged vessel at Marlin class vessels, the world’s first LNG-
powered container ships.
Tellurian today announced it has made a JAXPORT JAXPORT, February 18, 2021
voluntary principal prepayment of $43mn
on its 2018 term loan. The debt prepayment JAX LNG and TOTE Services recently
was funded using cash on hand and from its completed their first ship-to-ship liquefied ASIA
upstream subsidiary, Tellurian Production natural gas (LNG) bunkering of a foreign-
Holdings, resulting in interest savings of flagged vessel at the Jacksonville Port ZIM and Seaspan announce
approximately $2.4mn in 2021. Tellurian Authority (JAXPORT). Crews loaded 1,800
Inc. has also made $13.6mn in other debt m3 (~450,000 gallons) of LNG from North strategic chartering
repayments year to date to other creditors, for America’s first LNG bunker barge, the Clean
a total debt reduction of $57mn. Jacksonville, to the LNG-powered vehicle agreement for LNG-fuelled
After today’s prepayment, Tellurian has carrier, Siem Confucius, at JAXPORT’s Blount
approximately $80mn in unrestricted cash Island Marine Terminal. vessels
and $25mn in borrowings that mature in In preparation for the bunkering, JAX
2021, of which $17mn will be paid from LNG worked closely with TOTE Services ZIM Integrated Shipping Services, and
Tellurian production. to utilize the Clean Jacksonville while also Seaspan Corporation, a wholly owned
President and CEO, Octávio Simões said: gaining acceptance from the U.S. Coast Guard subsidiary of Atlas Corp., announced today a
“Tellurian is delivering on our debt reduction to perform the bunkering during all potential strategic agreement for the long-term charter
plan and strengthening our balance sheet, cargo loading conditions. After loading at of ten 15,000 TEU liquefied natural gas (LNG)
with comfortable liquidity for operations the JAX LNG facility, the Clean Jacksonville dual-fuel container vessels, to serve ZIM’s
and a market capitalization value of over maneuvered alongside Siem Confucius to Asia-US East Coast trade. ZIM is a leading
$1bn. We are producing natural gas from perform the milestone fuel transfer. player in this growing trade with an estimated
our Haynesville position as we watch the The 7,500-car-capacity Siem Confucius market share of 9% according to market
global natural gas market restructure with and its sister ship, Siem Aristotle, are Liberian- intelligence provider, PIERS.
liquefied natural gas (LNG) supply tightening Registered and regularly call on JAXPORT Eli Glickman, ZIM president and CEO,
and prices rising. As an LNG supplier, we to unload factory-new Volkswagen Group of stated: “This is a milestone agreement for
are well positioned with our integrated America cars and SUVs. ZIM, valued in excess of one billion dollar,
Driftwood partnership to control supply cost, “Our modern and eco-friendly fleet that enables us to achieve two important
effectively manage emissions through our own helps reduce emissions while maximizing strategic objectives. First, these top of the
production, and produce LNG at a very low efficiency,” said Siem Car Carriers President line advanced vessels will allow us to meet
and stable cost that is globally competitive.” Jeffrey Campbell. “We are thrilled to partner growing market demand on the Asia - US
TELLURIAN, February 18, 2021 with other pioneers in the environmental East Coast trade and provide top-level,
conservation movement, including reliable service to our customers on this
important trade lane. Second, in line with
our core sustainability values, investing in
LNG-fuelled “green” vessels demonstrates
our continued commitment and leadership
in addressing environmental issues related to
our industry, meeting customer demand to
reduce CO2 emissions, helping to preserve
clean air and reducing our carbon footprint.
We are delighted to partner with industry
leaders such as Seaspan and Samsung Heavy
Industries on this transaction.”
Bing Chen, chairman, president and CEO
of Seaspan, added: “We are very pleased to
partner with ZIM to facilitate our customer’s
industry leading environmental initiative.
This transaction signifies both ZIM’s and
Seaspan’s commitment to ESG principles,
carbon reduction, and resolve to contribute to
a greener business community in the future.”
Korean-based Samsung Heavy Industries,
commissioned by Seaspan to build these
vessels, is one of the world’s largest shipyards

P14 www. NEWSBASE .com Week 07 19•February•2021