Nakilat adds LNG carriers to Maran joint fleet
The shipping arm of Qatar’s liquefied natural gas (LNG) sector, Nakilat, has expanded its joint venture with Greek shipping company Maran Ventures, reinforcing Nakilat’s wholly and jointly-owned LNG fleet as the largest in the world.
The agreement sees the number of vessels jointly-owned by Nakilat and Maran Gas increased by two to 13 in total. Maran Nakilat Co was established in 2005 with four jointly-owned vessels, and the agreement has been expanded on three occasions.
“Maran Gas is a highly-reputed quality operator and we are delighted in reconfirming our association with the company,” said Nakilat managing director Abdullah al-Sulaiti. “This move strengthens ties between the two entities, and the current agreement allows for further expansion in the future.”
“Nakilat’s strong financial performance has allowed us to increase our fleet size further,” he added. “Selecting strong partners in the shipping industry has been fundamental to Nakilat’s success, and our relationship with Maran continues to be reinforced since our first agreement in 2005.”
The two new state-of-the-art vessels are currently under construction in South Korea and, upon delivery in the third and fourth quarters of 2015, will bring the total number of LNG and LPG ships partially or wholly owned by Nakilat to 67.
The vessels are Tri-Fuel Diesel Electric (TFDE) propulsion models with capacities of 161,870 cubic metres and 174,000 cubic metres, respectively. TFDE propulsion means that the engine uses ‘boil off’ gas from LNG storage as fuel, creating a highly efficient means of power, while also using electrical motors instead of diesel engines to save space.