Page 20 - GLNG Week 31

GLNG NEWS IN BRIEF GLNG

AMERICAS ended June 30, 2020. Results include a supplied to this main engine through an LNG
one-time non-cash charge of approximately pump and vaporiser.
Tellurian reports second- $81.1mn for impairment of the book value of As the global efforts are made to accelerate
our natural gas properties due to the impact of the reduction of greenhouse gas emission
quarter 2020 results declining commodity prices. in the international shipping, demand for
environmental-friendly ships will be growing.
TELLURIAN, August 05, 2020
Tellurian continues to build its integrated Sumitomo’s state of the art tanker will far
global natural gas business. Notable Tellurian exceed the level of Phase 3 of the Energy
achievements during the second quarter of ASIA Efficiency Design Index (EEDI), which
2020 and thereafter included raising $57.5mn will be mandatory to ships deployed in the
in net proceeds through issuances of common Sumitomo Heavy Industries international trade.
stock. Pro forma cash and cash equivalents We are committed to doing our part in
as of quarter end would be approximately has been granted an realizing a sustainable shipping industry.
$122.9mn after giving effect to financing Accordingly, we will continue meeting social
transactions executed during July. “approval in principle” for a demands by fully utilising our technical and
President and CEO Meg Gentle said: developmental capabilities. And we will
“Tellurian has used the last few months medium-size high-pressure remain focused on supplying our customers
to streamline Driftwood LNG, which is with environment-friendly ships with a greatly
one of the lowest cost projects available LNG dual-fuelled tanker reduced environmental footprint in all areas,
globally at approximately $1,000 per tonne. including greenhouse gases.
Driftwood LNG is an integrated project, On July 9, 2020, Sumitomo Heavy Industries SUMITOMO HEAVY INDUSTRIES MARINE &
including production of low-cost gas from the Marine & Engineering (president: Hideshi ENGINEERING, August 05, 2020
Haynesville shale, which supports a new US Shimamoto; a wholly-owned subsidiary of
LNG pricing mechanism projected to enable Sumitomo Heavy Industries) was granted an Ecobunker Shipping holds
equity partners to load LNG at about $3.50 “approval in principle” (AiP) from Lloyd’s
per mmBtu. Tellurian continues working Register Group Limited for a medium-size a naming and launching
to secure equity partners from around the tanker equipped with a high-pressure LNG
globe and looks forward to delivering reliable dual-fuel system. ceremony for “Ecobunker
energy in 2024.” This tanker is equipped with an LNG dual-
Tellurian ended its second quarter of fuel system and large-capacity LNG tank. The Tokyo Bay”
2020 with approximately $88.3mn in cash vessel can substantially reduce the amount
and cash equivalents and approximately of sulphur oxide (SOx), nitrogen oxide Our first vessel, “Ecobunker Tokyo Bay”
$33.9mn short-term borrowings. Tellurian’s (NOx) and carbon dioxide (CO2) contained had her naming and launching ceremony at
balance sheet consisted of approximately in the engine exhaust gas by using LNG as Fukuoka Shipbuilding shipyard today. She is a
$315.9mn in total assets. Pro forma for the primary fuel. LNG-fuelled engine present multi-bunkering vessel capable of both ship-
financing transactions completed in July, environmental challenges in that unburnt to-ship LNG and VLSFO (very low sulphur
Tellurian would have ended the quarter with methane (a greenhouse gas) is emitted into fuel oil) bunkering.
approximately $122.9mn in cash and cash the atmosphere from their exhaust gas. We will further work on outfitting the
equivalents, approximately $106.1mn in long- However, the ME-GI type main engine vessel including installation of equipment and
term debt, and approximately $350.5mn in designed by MAN Energy & Solutions that tanks.
assets. will be installed on the vessel will substantially Ecobunker Shipping will continue to
Tellurian reported a net loss of reduce those emissions and also improve fuel promote eco-friendly bunker fuel, also aiming
approximately $128.8mn, or $0.53 per share efficiency. High-pressure LNG that has been to contribute in developing Tokyo Bay as one
(basic and diluted), for the three months pressurised to approximately 300 bar will be of the world’s leading LNG bunkering hubs.
With the consideration of COVID-19
pandemic, the naming & launching ceremony
was held by limited number of attendees with
live streaming on YouTube.
ECOBUNKER SHIPPING, August 07, 2020
Shell signs charter

contracts for six newbuild
LNG carriers

Shell Tankers (Singapore) Private Limited
has agreed long-term charter contracts for six
newbuild liquefied natural gas (LNG) carriers.
Shell has signed separate agreements for
two LNG ships each with affiliates of Knutsen
LNG, Korea Line Corporation, and ICBC

P20 www. NEWSBASE .com Week 31 07•August•2020