Regulations will cap sulfur emis-sions from January, 2015. A UECCexecutive said that LNG-fuelledpropulsion equipment wouldnonetheless not be used on theentire fleet for the time being atthe system’s current cost levels.

NYK Line in its recently re-leased plan, “More Than Shipping2018, Stage 2” said it is looking todevelop a new business related toLNG fuel and acquire LNG-fuelledvessels.

The twin car carriers will bethe first such vessels able to com-plete a two week round voyage inthe Baltic running on LNG.

They will use LNG as a mainengine fuel and auxiliary powergeneration, allowing operation oneither LNG fuel, Heavy Fuel Oil(HFO) or Marine Gas Oil (MGO).The vessels will likely bunker withLNG at Fluxys-operated ZeebruggeLNG terminal in Belgium, saidUECC.

Fluxys is currently constructinga second jetty at the terminal, en-abling berthing of LNG bunkeringvessels from 2015. It recently per-formed a tanker truck-to-ship (TTS)bunkering operation for a tugboat,Statoil chartered M/T Borgoy at thenearby port of Zeebrugge.

The car carriers will be classedfor arctic operation as Finnish orSwedish 1A ice class vessels. Ableto hold about 3,800 cars, they willbe ‘the largest PCTC-type vesselsspecifically designed for transitingthe Baltic and other ice-proneareas.’

Kawasaki Heavy Industry (KHI)and China Ocean Shipping(COSCO)’s Chinese shipbuildingventure called NACKS, is building

the units. It has been working withthe joint venture partners, includ-ing NYK’s Technical Group, on adesign in China, with both vesselsscheduled for delivery in secondhalf of 2016.

NACKS is a large-scale shipyardestablished in 1995, with a pro-duction capability that includescargo carriers.

Shell puts North American bunkering projects on holdShell Canada has paused plans toinstall two small-scale LNGbunkering facilities in North Amer-ica, reports Reuters. The unitswould have served vessels in theGulf Coast and Great Lakes wa-ters. The company will continue toevaluate LNG bunkering opportu-nities, it said, attributing com-ments to company spokesmanDavid Williams.

The proposed bunkering proj-ect would have set up LNG lique-faction units at Shell’s Corunnarefinery in Ontario, Canada andShell’s Geismar Chemicals facilityin Louisiana, US, on the Mississippiriver delta that feeds out into theGulf Coast. The units would havehad an output capacity of 250,000tons of LNG each.

Bulk carrier freighter operator,Interlake Steamship Company wasplanning to use the Corunna facil-

ity on the Great Lakes for bunker-ing converted ships, havingreached an agreement in principlewith Shell for a supply of LNG.

Completion of Sale of Golar IglooUK-based operator Golar LNG Lim-ited has completed an intra-com-pany transaction involving sale ofthe company that owns and oper-ates the FSRU Golar Igloo forabout $310.0 million.

In December Golar LNG soughtto finance the FSRU through anIPO and potential short term char-ter, and transfer the unit fromGolar LNG Limited to Golar LNGPartners. The IPO closed on December 5, 2013.

The SHI-built unit was deliv-ered in February, and arrived atKuwait with a commissioning cargoin March. It is currently complet-ing its commissioning procedures,according to industry website Oil Voice.

The unit will provide regasservices on a five-year contract toKuwait National Petroleum Com-pany (KNPC) at the port of Mina AlAhmadi in Kuwait. Golar LNG part-ners plans to assume $161.3 millionof outstanding debt obligations inrespect of the Golar Igloo and payGolar the balance of $148.7 mil-lion in cash using the proceedsfrom the December IPO. !

A LNG JOURNAL TITLE ON LNG TANKERS 3 April 2014

LNG Shipping NewsNYK JV to operate Baltic dual fuel car-carrier

SHIPPINGNEWS

AGENDA

Spot and short-termLNG deliveries lastyear amounted to 77 million tonnes

3

MARKETS

SMALL SCALE

GTT LNG bunkerbarge with reliq gets ABS approval

4

US proposal for LNGcarrier !agging‘dooms exports’

2

BUSINESS

United European Car Carriers (UECC), A joint venture of Japanese LNG fleetowner NYK Line and Swedish shipping company Wallenous, is building two purecar and truck carriers capable of running off LNG fuel, primarily in order meet withemissions requirements under the Sulfur Oxides Emissions Control Area (ECA),confirmed UECC.

TECHNOLOGY

New STS simulatorvisualises "re hazards

5

UECC’s proposed dual fuel PCTC.

LNG vessels ordered

6

LNG ORDERBOOK

Bank of America already suppliesLNG to LNG terminals such as GateTerminal in The Netherlands as wellas Britain’s Isle of Grain terminal.

The bank will start small-scaleLNG deliveries from the Gate Ter-minal to clients in Baltic countriesthis summer.

The deal was initially signed inJune 2013, under which Bank ofAmerica Merrill Lynch Commoditieswould charter and fully utilise asmall-scale vessel with 6,000-15,000cubic metres capacity, reported Icis.

Gabriel Gonzalez Laguna, Mer-ril Lynch’s vice president of LNG

trading and origination in London,said the Bank was diversifying itsEuropean business.

North Europe’s demandshiftsIn January the bank noted Euro-pean gas markets opportunitieshave shrunk in a regulatory envi-ronment that hinders gas trading,and joined Deutsche Bank inpulling out of European commodi-ties trading markets, a movewhich might be attributed to in-creasing use of renewable energyin Germany.

Demand for LNG in north-west-ern Europe is reported as on thedecline, however demand forsmall-scale LNG, used in industrial,land and marine transport sectors,may increase in Europe owing to

regulations such as the EU Direc-tive 1999/32/EC regulating sulphuremissions from ships operating inNorthern European seas.

Bank of America acquired USbank Merril Lynch in 2008, trans-forming it into a management divi-sion, and its European gas tradingbranch is called Merrill Lynch Com-modities (Europe). The divisionalso provides risk management andlending for the LNG industry.

Gate Terminal has reportedlysince September been used for reloads.

Looking beyond Europe, Bankof America’s European wealthmanagement branch has agreed tostart supplying Dubai Supply Au-thority (DUSUP) with LNG cargoesex-ship to its Jebel Ali FSRU,which began operations in 2010.!

Bank of America starts small scale shipping in Baltics

" NEWS LNG Unlimited 3 April 20142

Bank of America, America’s second largest bank holding company by assets, is expanding its LNG trading unitto sell small-scale cargoes from The Netherlands’ Gate Terminal to clients in the Baltic region. It’s the first non-Scandinavian country supplying LNG for ships, reported Icis.

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While there are currently no US-flagged LNG carriers, the Ameri-can government subsidises aUS-flagged shipping fleet, spend-ing $186 million a year on 60 ves-sels. A century-old law called theJones Act also requires intra-do-mestic shipping to travel on Amer-ican-flagged and crewed vessels.

The proposal to mandate similardomestic LNG shipbuilding andcrewing bucks the trend of budgetcuts for programs that encouragethe ship flagging industry. Programslike the Food for Peace for food-carrying vessels and Title XI for

newbuildings are expected to expe-rience continued budget cuts, offi-cials noted at a recent hearing ofthe US subcommittee on CoastGuard and Maritime Transportation.

Honorable Paul Jaenichen, act-

ing administrator of the MaritimeAdministration said that it is de-veloping a policy position on USflag LNG carriers. He said, “Weare putting together a nationalmaritime strategy which is goingto focus on maritime opportuni-ties. I believe that the energy sec-tor is one of those areas that weneed to focus on.”

Restrictive policyThe dominance of other countriesover LNG transport facilities hasbeen highlighted by events inCrimea, causing some American

legislators to consider an absenceof US LNG transport and export fa-cilities a political liability.

However, legislation to domes-ticate LNG shipping could provecost-prohibitive for the oil-and-gasindustry, dooming US gas exportsto less competitive prices and re-stricting economic growth aroundshale gas production.

Charles Drevna, president ofthe American Fuel & PetrochemicalManufacturers, called the proposalrestrictive, and noted that JonesAct should be loosened to allowcheaper domestic LNG shipping. !

US proposal for LNG carrier flagging ‘dooms exports’US representative John Garamendi has tabled a law which would require US-flagging, shipbuilding and crewingof the estimated 100 ships required for US LNG exports. The amendment to the Coast Guard Reauthorization Billwas tabled last month.

US representative John Garamendi

K-Line’s 140,000cbm Arctic Voyager at Gate Terminal in 2011. Source: Gate

Jérôme Ferrier, President of IGU,observed: "Global gas demand issurging, nurtured by a growingpreference for low-carbon energiesand uncertainty over possible Ko-rean and Japanese nuclear policies.

"The world is keenly awaitingnew LNG supplies from the US, al-though some uncertainty remainsover the actual number of lique-faction projects that will start de-livering soon," Ferrier added.

LNG trade in 2013 was 236.8MT, slightly below the record241.5 MT in 2011. Supply-side is-sues, notably "force majeur" inNigeria and diversions in Egypt,resulted in a tight market.

As global gas demand rises,market tightness might continueat least through 2014 until majornew sources of LNG supply start tocome online next year.

The volume of non-long-term

traded LNG reached a new high of77.3MT, amounting to one-third ofglobal trade in 2013. Of this 74percent of all spot LNG was deliv-ered to Asian markets.

New import marketsThe Secretary General of IGU,Torstein Indrebø, welcomed threenew LNG importing countries:

"In 2013 Singapore, Malaysiaand Israel joined the list of now 29countries with LNG import capa-bilities, resulting in global regasi-fication capacity now reaching 688MTPA, a 6.8% increase comparedwith 2012."

The report also shows that tencountries now have floating LNGregasification capacity. The LNGfleet continues to expand, with 16new vessels entering service in2013 and 31 more scheduled fordelivery during 2014.

Global LNG demand is ex-pected to continue to grow withboth traditional consumers andnew markets and supply routesemerging. These dynamics willcontinue to drive gas globalizationand influence price formation,with regional price dichotomy con-tinuing to provide opportunitiesfor arbitrage trading. !

3 April 2014 LNG Unlimited NEWS " 3Spot and short-term LNG deliveries lastyear amounted to 77 million tonnesMore than 77 million tonnes of spot and short-term LNG cargoes were delivered lastyear, mostly into the Asian market, according to a new report from the InternationalGas Union.

Jérôme Ferrier, President of IGU

NEWSNUDGE

MOL unveils plan for$5.05bn LNG carrierinvestmentJapanese shipping company MitsuiOSK Lines (MOL) plans to increaseits LNG fleet size from 66 to 120by March 2020. This week it re-vealed in a new a new mid-termbusiness plan, reports Reuters. Itwill also invest $180 billion in itsoffshore business. The two sectorscombined are set to increase from9 to 26 percent of its portfolio.

Lithuania urges American LNG exportsLithuanian energy ministerJaroslav Neverovic last weekurged a panel of American legis-lators to begin gas exports inthe country. Lithuania has part-nered with LNG operator HöeghLNG on a new FSRU, called Inde-pendence. Lithuania, Finlandand Estonia all have plannedLNG import facilities.

Pertamina seeks threemillion tons of LNG in2016Indonesian state-owned oil andgas company Pertamina is seek-ing three million tons of lique-fied natural gas (LNG) perannum to meet the LNG require-ments of four terminals in 2016.The director for gas affairs atPertamina said it will give prior-ity to domestic sources, but willalso consider imports if theprice is lower. In December thecompany signed a SPA with USLNG exporter Cheniere Energy.

Exmar discussingCaribbean regas capac-ity on FLNGDiscussions are ongoing for theemployment of a regas bargebeing built by a joint venture ofBelgian operator Exmar andCanadian oil and gas companyPacific Rubiales that is buildinga FLSRU off the coast of Colom-bia in the Caribbean. It willstart of the construction of a re-gasification barge in the secondquarter of 2014, with deliveryscheduled for 2015.

NYK Line plans to increase itsspending on LNG as it aims to in-vest more on vessels and offshoreprojects.

It said its 2014-2018 spendingplans amounted to a total of justover 790 billion yen, equivalent to$7.6 billion.

The shipping company identi-fied "changing market conditionsand new business opportunities inLNG vessels and the offshore busi-ness" as well as LNG as a bunkerfuel for general cargo ships andtankers.

The company plans to expandits fleet of LNG carriers from 67 atpresent, including jointly ownedvessels, to 100 by 2018.

It has been drawn up and willbe implemented by NYK President

and Chief Corporate Officer Ya-sumi Kudo and Chairman KojiMiyahara.

"Vessel order book remainshigh. Demand for LNG transport isexpanding in line with removal ofthe LNG export restrictions forNon-Free Trade Agreement coun-tries in North America.

"Offshore LNG activities are ex-panding, due to the persistentlyhigh oil price. There are alsochanges in trade patterns. Increases

in cost of production in China isshifting back manufacturing capac-ity to the US amid increasinglytough environmental regulations(for shipping)," NYK said.

The company also noted thecontinued "shortage of highly-skilled seafarers for LNG carriersat a time of growing demand forLNG, particularly in Japan andemerging nations."

Among current goals NYK wastraining and promoting Filipinoseafarers to Captain and Chief En-gineer for LNG carriers.

It also includes "acquiring LNG-fuelled vessels, enhancing naviga-tion information technology andsending key personnel to the engi-neering, procurement and con-struction (EPC) front line." !

NYK earmarks $7.6bn, adds LNG bunkeringJapanese shipping company NYK Line, recently released a plan, “More Than Ship-ping 2018 —Stage 2” that forsees developing a new business related to LNG fuel andacquiring LNG-fueled vessels in the next five years. It will also grow its LNG fleet toover 100 by 2019, increasing its presence offshore in FPSOs, FSRUs and FLNG.

GTT North America, US subsidiaryof the French LNG cargo tankmanufacturer, GTT has developedthe membrane LNG bunker bargeto demonstrate the efficient stor-age of LNG and safe, reliable man-agement of Boil-Off Gas (BOG) inan unmanned push barge applica-tion. ABS Consulting and US-basedHerbert Engineering Corporationalso assisted in the developmentof the barge.

It was designed for ship-to-shipLNG transfers or LNG bulk trans-port, and maneuvering on Amer-ica’s inland and intra-coastalwaterways, at 212 feet long.

It can either be used as a mo-bile vessel that goes to the daugh-ter vessel or be mooredtemporarily to serve as a station-

ary refueling terminal for the ves-sel to be bunkered.

A distinguishing feature of theGTT membrane LNG bunker bargeis the management of natural BOGthrough small-scale reliquefactionunits supplied by Netherlands-based Stirling Cryogenics. TheStirLNG-4 cryo-cooler unit is incor-porated in the ship’s boil off man-agement system for improved boiloff and cargo quality control.

OperationThe bunker barge cargo hold usesa membrane (CSS) Cargo Contain-ment System tank and GTT’s pro-prietary Mark III Flex system.

The design can load 2,156cubic metres during a 4.5 hourbunkering session. It is intended to

be towed at 8 knots. It’s hull re-quires approximately 15 feet ofwater (7 meters) water depth, orabout 8 metres when fully loaded.

“This barge design, now ap-proved in principle by ABS, pro-vides a robust solution for boil offgas management, an essential re-

quirement for any atmosphericLNG storage system. The design isa major step forward in bringingthe coldest cargo with the higheststored energy value to the US LNGfuel market in a safe manner.”said Allyn Risley, chairman of GTTNorth America. !

" NEWS LNG Unlimited 3 April 20144

“The design is targeted to off-shore support vessels, workboatsand large cargo vessels,” saidChristina Villiott, EBDG’s directorof marketing and sales, notingthat fuel suppliers as well as oper-ators have expressed interest inowning the unit.

The company has included anMDO tank in the design in order toallow the barge to bunker dual-

fuel vessels which will increasinglyserve emissions control areas onthe US and EU coasts, alllowingthe barge able to refuel not onlyLNG, but MDO propelled vessels,such as tugs and ferries.

“There are a number of EBDGdesigned bunkering barges cur-rently operating,” explained Vil-liott, “These range in size from15,0000-bbl to 83,000-bbl capac-

ity. Our expertise in the field ledus to develop LNG bunkeringbarges in the 2,000, 3,000 and4,000 cubic metre capacities. Weare currently working with ownersand shipyards on vessel construc-tion pricing.”

ABS’s director of global gas so-lutions called the vessel an inno-vative approach to meeting thechallenges of LNG bunkering,

overcoming hurdles, for examplemarket development. EBDG hasseveral other LNG barge designstargeting growing demand for effi-cient and cost-effective refuellingof LNG powered vessels.

OperationEB-2000 LNG Combo is a 257 foot(58 metre) vessel, designed to be used either in articulated tug and barge (ATB) or towedconfiguration.

Features of the vessel designedinclude a tankerman’s office,large decks and walkways for in-creased crew safety, and forwardstorage lockers incorporated inthe breakwater.

Optional features of the vesselare a stern ballast tank for opti-mising trim, as well as a controlroom at trunk level for improvedvisibility and truck access.

EBDG says its design, called EB-2000 LNG Combo, will serve as abasic platform that can be cus-tomised to meet a customer’s operational and cargo capacity requirements. !

ABS approves EBDG’s dual fuel MDO/LNG bunkering bargeABS has approved a 2,000 cubic meter LNG bunker barge by Elliott Bay Design Group (EBDG) which can fuelboth LNG and Marine Diesel Oil (MDO).

EB-2000 LNG Combo Source: EBDG

GTT’s bunkering barge has reliquefaction

GTT LNG bunker barge with reliq gets ABS approvalUS classification body American Bureau of Shipping (ABS) has granted approval in principle for a 2,200 cubicmetre LNG bunkering barge design that includes reliquefaction capacity.

3 April 2014 LNG Unlimited NEWS " 5New STS simulator visualises fire hazards

The product launched at Gastechlast month is Transas’s new liquidcargo handling simulator, or LCHS5000. “The simulator uses photorealistic control panels and humaninterfaces. These are based realships equipment,” said Wagstaff.

“Transas LCHS simulators havea 3D interface. The 3D scene isactive. As the draft, list and healangle of the ship changes duringcargo operations the ships picturealso changes.”

“For situational awarenesstraining items clicked on deck arehighlighted in the system’sschematics,” added Wagstaff.

“Our core customers are Mar-itime Universities. With the intro-duction of the STCW amendment,cargo officers are required to takea ship type specific cargo trainingcourse. These courses includesome simulator time. To meet thisrequirement shipping companiesand terminal operators are pur-

chasing simulators to conduct thistraining ‘in house,” he said.

The new simulator will enabletrainers to provide highly realistic,in-depth training that includesvessel team management exer-cises as well as interaction withterminal operations staff

Hardware optionsTransas can optionally supplyhardware which replicates thecontrol panels in a typical cargocontrol room, and may be manu-factured using real controls andindicators or touch screens.Using real hardware, however, re-stricts the customer to one type ofship and so many clients choose atouch screen.

“The touch screen option is themost popular,” said Wagstaff.“Using touch screens allows thesame hardware to be used for sev-eral ship types by simply reloadingthe simulator.”

An educational institution canalso use a classroom simulator totrain up to 30 students. Institu-tions which use Transas simulatorsinclude PIP Semarang academy inIndonesia, Royal New ZealandNavy.

Institutions in the United Statesusing Transas simulators are Pa-cific Maritime Academy and Cal-

hoon MEBA Engineering school.The LNG vessel and LNG termi-

nal simulator models were devel-oped in a close collaboration withthe Sczecin Maritime Academy,Poland. Simulated models havebeen designed to reflect real in-stallations which are currentlyunder-construction at the Swinou-jscie LNG terminal in Poland. !

Swedish company Transas says it is offering a unique ship-to-ship transfer simulator for LNG tanker, LNG termi-nal and LPG carrier training. “Fires and spills are also visualised in the 3D environment,“ said Graham Wagstaff,business development manager, technical simulators, Transas Marine.

Screenshot from LCHS 5000 simulator

FLNG, Bunkering, to add demand for trained LNG mariners

Charman said, “Shipping re-cruiters should be aware thatLNG experienced seafarers arealready being courted by the up-coming FLNG sector which offershigher pay and short rotations.The increasing interest in LNG asan alternative marine fuel forvessels is also just going to make

recruitment even tougher in theyears to come.”

Value propositionThe LNG sector needs to changeits recruitment strategies if it isto attract sufficient personnel tocrew its ships and manage themashore, he said.

“Companies need to thinkabout their value proposition tocandidates. What is it that yourcompany is offering – is it a short-term post with a high salary, or alonger-term package with furtheropportunities? Seafarers shouldnot be treated as just short-termhires, but need to see how they fitwithin the wider company.

“Companies need to realisejust how in demand LNG experi-enced engineers are and offerthem realistic shoreside packages.They have tax free options at sea,newbuild and project offers opento them. What is going to moti-vate them to come ashore?”

LNG vessel operators are at-tempting to meet staffing needs

by looking to other areas of theshipping industry for personnel,leading VLGC and LPG vessel staffto enter in careers working onboard LNG vessels.

Electrical officers are alsocoming from other vessel types totrain on board LNG carriers, andeven from outside the maritimesector. Faststream reports it hasexperience with cruise ship engi-neers that have engaged in dual-fuel engine operation on boardcruise ships, becoming LNG vesselmariners.

According to data collected bythe company, the average salaryfor an LNG technical superinten-dent is $113 528, and for an LNGchief engineer is $121 536. !

carrier deliveries will peak in 2015 (SIGTTO)

Speaking at Gastech last month, managing director of UK-based recruitment agency FastStream MarkCharman estimated that 2000 officers and experienced shore-based technical superintendents would beneeded to staff the 127 LNG carriers on order.

DFDE = dual fuel diesel engines, STRH = steam turbine reheat / ultra steam turbine, MEGI = marine electric gas injection, DRL = slow speed diesel, FSRU = vessel with regas capacity, FLNG = floating LNG production unit

Golar Bear Samsung TZ Mk. III DFDE 160000 Q1-14 Golar LNG 2027 WilhelmsenGolarClean Ocean Hyundai Heavy TZ Mk. III DFDE 162000 Q1-14 Dynagas 2558 DynagasCorcovado DSME GT NO 96 DFDE 159760 Q2-14 Cardiff 2297 Cardiff GasIndependence Hyundai Heavy TZ Mk. III DFDE 170000 Q2-14 Indonesia FSRU Høegh LNG 2548 Høegh LNGPGN FSRU Lampung Hyundai Heavy TZ Mk. III Azipod 170000 Q2-14 Lithuania FSRU Høegh LNG 2549 Høegh LNGMaran Gas Posidonia Hyundai Samho TZ Mk. III DFDE 164000 Q2-14 BG Portfolio Nakilat / Maran S625 Anangel

Gas Maritime (60%)Experience DSME GT NO 96 DFDE 173400 Q2-14 Petrobras VT3 Excelerate Energy 2402 TBDGolar Crystal Samsung TZ Mk. III DFDE 160000 Q2-14 Golar LNG 2022 WilhelmsenGolarMaran Gas Efessos DSME GT NO 96 DFDE 159400 Q2-14 BG Portfolio Nakilat / 2291 Anangel

Maran Gas Maritime (60%)Kita DSME GT NO 96 DFDE 159760 Q2-14 Cardiff 2298 Cardiff GasGaslog NB-6 Samsung TZ Mk. III DFDE 155000 Q2-14 Shell Portfolio GasLog 2042 CERESNewen Hyundai Heavy TZ Mk. III Azipod 170000 Q2-14 Colburn LNG FSRU Høegh LNG 2550 Høegh LNGGolar Penguin Samsung TZ Mk. III DFDE 160000 Q2-14 Golar LNG 2023 WilhelmsenGolarAsia Vision Samsung TZ Mk. III DFDE 160000 Q2-14 Chevron Portfolio Chevron 1920 Chevron ShippingGolar Frost Samsung TZ Mk. III DFDE 160000 Q2-14 Golar LNG 2055 WilhelmsenGolarSCF Pskov STX O&S GT NO 96 DFDE 170200 Q3-14 Gazprom Portfolio Sovcomflot 1911 SovcomflotClean Planet Hyundai Heavy TZ Mk. III DFDE 162000 Q3-14 Dynagas 2565 DynagasAdam Hyundai Heavy TZ Mk. III DFDE 162000 Q3-14 Oman LNG 2584 Oman ShippingGolar Glacier Hyundai Samho TZ Mk. III DFDE 162000 Q3-14 Golar LNG S658 WilhelmsenGolarPalu DSME GT NO 96 DFDE 159760 Q3-14 Cardiff 2400 Cardiff GasAsia Energy Samsung TZ Mk. III DFDE 160000 Q3-14 Chevron Portfolio Chevron 1921 Chevron ShippingChubu NB-2 Mitsubishi H.I. Moss STRH 153000 Q3-14 Chubu Electric Mitsui Osk / Mitsubishi 2297 MOLGolar Snow Samsung TZ Mk. III DFDE 160000 Q3-14 Golar LNG 2047 WilhelmsenGolarCool Explorer Samsung TZ Mk. III DFDE 160000 Q4-14 Thenamaris 2049 Bernard SchulteGaslog NB-7 Samsung TZ Mk. III DFDE 155000 Q4-14 Gaslog 2043 CERESOsaka Gas NB-1 Mitsubishi H.I. Moss STRH 153000 Q4-14 Osaka Gas Mitsui OSK / Osaka Gas 2295 MOLTEPCO NB-1 Mitsubishi H.I. Moss STRH 145500 Q4-14 TEPCO NYK 2289 NYKAmani Hyundai Heavy TZ Mk. III DFDE 154800 Q4-14 Brunei Fleet Brunei Gas Carriers 2606 STASCOGolar Kelvin Hyundai Samho TZ Mk. III DFDE 162000 Q4-14 Golar LNG S659 WilhelmsenGolarYari DSME GT NO 96 DFDE 159760 Q4-14 Cardiff 2401 Cardiff GasGolar Ice Samsung TZ Mk. III DFDE 160000 Q4-14 Golar LNG 2048 WilhelmsenGolarGolar Eskimo Samsung TZ Mk. III DFDE 160000 Q4-14 Jordan FSRU Golar LNG 2024 WilhelmsenGolarBW Gas NB-1 Hyundai Heavy TZ Mk. III DFDE 161880 Q1-15 BW Gas 2571 BWGaslog NB-8 Samsung TZ Mk. III DFDE 155000 Q1-15 Gaslog 2044 CERESDynacom NB-6 Hyundai Heavy TZ Mk. III DFDE 162000 Q1-15 Dynagas 2566 DynagasPapua Hudong Membrane SSD 170000 Q1-15 PNG / Gorgon Mitsui OSK H1670A MOLChevron NB-3 Samsung TZ Mk. III DFDE 160000 Q1-15 Chevron Portfolio Chevron 1941 Chevron ShippingBW Malacca (NB-2) Hyundai Heavy TZ Mk. III DFDE 161880 Q1-15 BW Gas 2572 BWChubu NB-3 Mitsubishi H.I. Moss STRH 153000 Q1-15 Chubu Electric NYK 2298 NYKMaran Gas Lindos DSME GT NO 96 DFDE 159400 Q1-15 BG Portfolio MaranGas 2292 Anangel Maran Gas Sparta Hyundai Samho TZ Mk. III DFDE 164000 Q1-15 BG Portfolio MaranGas S626 Anangel Hoegh NB-4 FSRU Hyundai Heavy TZ Mk. III Azipod 170000 Q1-15 Høegh LNG 2251 Høegh LNGMaran Gas Mistras DSME GT NO 96 DFDE 159400 Q2-15 BG Portfolio MaranGas 2405 Anangel Clean Vision Hyundai Heavy TZ Mk. III DFDE 162000 Q2-15 Dynagas 2567 DynagasOsaka Gas NB-2 Mitsubishi H.I. Moss STRH 153000 Q2-15 Osaka Gas Mitsui OSK / Osaka Gas 2296 MOLSCF Mitre STX O&S GT NO 96 DFDE 170200 Q2-15 Shell Portfolio Sovcomflot 1913 SovcomflotMaran Gas Alexandria Hyundai Samho TZ Mk. III DFDE 164000 Q2-15 BG Portfolio MaranGas S627 Anangel MOL PNG NB-2 Hudong Membrane SSD 170000 Q2-15 PNG / Gorgon Mitsui OSK H1671A MOLChevron NB-4 Samsung TZ Mk. III DFDE 160000 Q2-15 Chevron Portfolio Chevron 1942 Chevron ShippingChevron NB-6 Samsung TZ Mk. III DFDE 160000 Q2-15 Chevron Portfolio Chevron 2070 Chevron ShippingBrunei NB-2 Hyundai Heavy TZ Mk. III DFDE 154800 Q2-15 Brunei Fleet Brunei Gas Carriers 2607 STASCOPetronas FLNG NB DSME GT NO 96 FLNG 180000 Q2-15 Petronas FLNG Petronas 6302 TBDMaran NB-13 Hyundai Samho TZ Mk. III DFDE 164000 Q3-15 BG Portfolio MaranGas S688 Anangel Maran Gas Troy DSME GT NO 96 DFDE 159400 Q3-15 BG Portfolio MaranGas 2406 Anangel SCF Melampus STX O&S GT NO 96 DFDE 170200 Q3-15 Shell Portfolio Sovcomflot 1912 SovcomflotTBN NB-1 STX O&S GT NO 96 DFDE 160000 Q3-15 TBN (x-Alpha) 1670 TBD

THE WORLD’S NEWEST LNG CARRIERSName Yard Design Prop. CBM Delivery Trade Route Ship Owner Hull Operator

" NEWS LNG Unlimited 3 April 20146

Maran NB-12 Hyundai Samho TZ Mk. III DFDE 164000 Q4-15 BG Portfolio MaranGas S689 Anangel BW Gas NB-3 FSRU Samsung Membrane DFDE 170000 Q4-15 BW Gas 2074 BWNLNG NB-1 Samsung TZ Mk. III DFDE 170000 Q4-15 Nigeria LNG Bonny Gas Transport 2076 BGTNLNG NB-2 Hyundai Heavy TZ Mk. III DFDE 170000 Q4-15 Nigeria LNG Bonny Gas Transport 2636 BGTMOL PNG NB-3 Hudong Membrane SSD 170000 Q4-15 PNG / Gorgon Mitsui OSK H1672A MOLGolar Tundra Samsung TZ Mk. III DFDE 170000 Q4-15 Gas Atacama FSRU Golar LNG 2056 WilhelmsenGolarNLNG NB-3 Samsung TZ Mk. III DFDE 170000 Q4-15 Nigeria LNG Bonny Gas Transport 2077 BGTChevron NB-5 Samsung TZ Mk. III DFDE 160000 Q4-15 Chevron Portfolio Chevron 2069 Chevron ShippingChubu NB-1 Kawasaki Moss STRH 164700 Q4-15 Chubu Electric K-Line 1713 K-LineShell NB-1 Samsung Membrane FLNG 225000 Q1-16 Shell FLNG Shell 2030 STASCOSinopec NB-1 Hudong Membrane DFDE 174000 Q1-16 APLNG China Shipping H1715A TBD

Group / Mitsui OSKNLNG NB-4 Samsung TZ Mk. III DFDE 170000 Q1-16 Nigeria LNG Bonny Gas Transport 2078 BGTMaria Energy Hyundai Heavy TZ Mk. III DFDE 170000 Q1-16 Tsakos 2612 TBDMaran NB-14 Hyundai Samho TZ Mk. III DFDE 173000 Q1-16 BG Portfolio MaranGas S690 Anangel Maran NB-16 DSME GT NO 96 DFDE 170000 Q1-16 BG Portfolio MaranGas 2412 Anangel Kansai NB-1 Kawasaki Moss STRH 164700 Q1-16 Kansai Kansai / Mitsui OSK 1712 MOLMOL PNG NB-4 Hudong Membrane SSD 170000 Q1-16 PNG / Gorgon Mitsui OSK H1673A MOLTBN NB-2 STX O&S GT NO 96 DFDE 170000 Q1-16 TBN (x-Alpha) 1671 TBDTeekay NB-1 DSME GT NO 96 MEGI 173400 Q1-16 Cheniere Teekay LNG 2407 Teekay LNGNLNG NB-5 Hyundai Heavy TZ Mk. III DFDE 170000 Q2-16 Nigeria LNG Bonny Gas Transport 2637 BGTNLNG NB-6 Samsung TZ Mk. III DFDE 170000 Q2-16 Nigeria LNG Bonny Gas Transport 2079 BGTSinopec NB-2 Hudong Membrane DFDE 174000 Q2-16 APLNG China Shipping H1716A TBD

Group / Mitsui OSKTeekay NB-2 DSME GT NO 96 MEGI 173400 Q2-16 Cheniere Teekay LNG 2408 Teekay LNGTeekay NB-4 DSME GT NO 96 MEGI 173400 Q3-16 Teekay LNG 2417 Teekay LNGMaran NB-15 Hyundai Samho TZ Mk. III DFDE 173000 Q3-16 BG Portfolio MaranGas S691 Anangel Gaslog NB-10 Samsung TZ Mk. III DFDE 173400 Q3-16 BG Portfolio Gaslog 2072 CERESTeekay NB-3 DSME GT NO 96 MEGI 173400 Q3-16 Teekay LNG 2416 Teekay LNGMaran NB-17 DSME GT NO 96 DFDE 170000 Q3-16 BG Portfolio MaranGas 2413 Anangel Gaslog NB-11 Samsung TZ Mk. III DFDE 173400 Q3-16 BG Portfolio Gaslog 2102 CERESUruguay FSRU DSME GT NO 96 DFDE 263000 Q3-16 Uruguay FSRU Mitsui OSK TBN MOLGaslog NB-9 Samsung TZ Mk. III DFDE 173400 Q4-16 BG Portfolio Gaslog 2073 CERESBW Gas NB-4 FSRU Samsung Membrane DFDE 170000 Q4-16 BW Gas 0 BWPetronas NB-2 Hyundai Heavy Moss STRH 150000 Q4-16 Petronas 2730 MISCSinopec NB-3 Hudong Membrane DFDE 174000 Q4-16 APLNG China Shipping H1717A TBD

Group / Mitsui OSKIchtys NB-1 Kawasaki Moss DFDE 182000 Q4-16 Ichtys LNG K-Line 1718 K-LineInpex NB-1 Mitsubishi H.I. Moss STRH 155300 Q4-16 Ichtys LNG K-Line / Inpex 2310 K-LinePetronas NB-1 Hyundai Heavy Moss STRH 150000 Q4-16 Petronas 2729 MISCSK Marubeni NB-2 Samsung TZ Mk. III DFDE 180000 Q4-16 Total Portfolio SK Shipping / Marubeni 2081 SK ShippingGaslog NB-12 Samsung TZ Mk. III DFDE 173400 Q1-17 BG Portfolio Gaslog 2103 CERESPetronas NB-3 Hyundai Heavy Moss STRH 150000 Q1-17 Petronas 2731 MISCSK Marubeni NB-1 Samsung TZ Mk. III DFDE 180000 Q1-17 Ichtys LNG SK Shipping / Marubeni 2080 SK ShippingSinopec NB-4 Hudong Membrane DFDE 174000 Q1-17 APLNG China Shipping H1718A TBD

Group / Mitsui OSKFlex NB-1 Samsung TZ Mk. III DFDE 174000 Q1-17 Flex LNG TBN TBDTeekay NB-5 DSME GT NO 96 MEGI 173400 Q1-17 Teekay LNG TBN Teekay LNGFlex NB-2 Samsung TZ Mk. III DFDE 174000 Q1-17 Flex LNG TBN TBDKansai NB-2 Mitsubishi H.I. Moss STRH 155300 Q2-17 Kansai Kansai / Mitsui OSK 2299 MOLOsaka Gas NB-3 Mitsubishi H.I. Moss STRH 153000 Q2-17 Osaka Gas Mitsui OSK / Osaka 2311 MOL

Gas / KyushuSinopec NB-5 Hudong Membrane DFDE 174000 Q2-17 APLNG China Shipping H1719A TBD

Group / Mitsui OSKPetronas NB-4 Hyundai Heavy Moss STRH 150000 Q3-17 Petronas 2732 MISCSinopec NB-6 Hudong Membrane DFDE 174000 Q4-17 APLNG China Shipping H1720A TBD

Group / Mitsui OSK

Name Yard Design Prop. CBM Delivery Trade Route Ship Owner Hull Operator

DFDE = dual fuel diesel engines, STRH = steam turbine reheat / ultra steam turbine, MEGI = marine electric gas injection, DRL = slow speed diesel, FSRU = vessel with regas capacity, FLNG = floating LNG production unit

3 April 2014 LNG Unlimited NEWS " 7