Golar orders four new LNG carriers - Norway Exports

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Golar orders four new LNG carriers

Golar LNG, controlled by Norwegian shipowner John Fredriksen, has entered into a firm contract to build four 160,000 m3 LNG carrriers with the Korean shipbuilder Samsung Heavy Industries Co Ltd.

The newbuilding contracts were originally entered into by Companies affiliated with Golar's largest shareholder World Shipholding. Golar has acquired the newbuilding contracts from the affiliated party based on the original contracting terms.

Three vessels are to be delivered in 2013 and one in early 2014. The total cost of the four vessels is approximately $800 million. In addition Golar has an option to acquire further four vessels for delivery in 2013 and onwards.

Golar has options to include ice strengthening / winterisation of the ships as well as regasification equipment.

The vessels will be delivered with dual fuel diesel electric engines which will be significantly more efficient than steam turbines thereby reducing fuel costs materially. The new engines will also have lower emission levels of pollutants and CO2,

Chairman John Fredriksen says in a comment: "The supply / demand balance for LNG shipping looks increasingly attractive. It is clear from the continued strong global LNG demand and supply growth that a significant amount of new infrastructure, including shipping, will be required over the coming years.

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