• 2020 January 2 14:19

    GEV announces extension of shipyard LoI & project update

    Global  Energy  Ventures  Ltd  (ASX: GEV,  the Company),  the  leading  developer  of  global  integrated  marine compressed  natural  gas  (CNG)  projects, announced an  extension of our  a Letter  of  Intent  (LOI)  with Yantai CIMC  Raffles  Offshore,  Ltd  (‘CIMC  Raffles’)  to  build  the CNG Optimum  200 ships. The  extension  is  for  six months through to 30 June2020.The LOI is based ona firm order for four (4) 200MMscf Compressed Natural Gas (CNG) shipswith the option for GEV to order up to an additional four (4) ships. The parties have executed theLOI, with the   intention   of   entering   a   Shipbuilding   Engineering,   Procurement   &   Construction(EPC)   contract, employing GEV’s CNG Optimum design, GEV said in its press release.

    Key highlights:

    • Six  month  extension  to  the Letter  of  Intent  (LOI)  with  Yantai  CIMC  Raffles  Offshore  Limited  (CIMC Raffles) to build the CNG Optimum 200MMscf ship.
    • No  change  to  the contract  price  range  of  USD  135-140  million  per  shipor  delivery  schedule  of  30 months for the first ship.
    • GEV and CIMC Raffles continue towork towards a binding shipbuildingEngineering, Procurement &  Construction  (EPC)  contract,  employing  GEV’s  CNG  Optimum  design,  for  four  (4)  firm  CNG Optimum ships, with the option for GEV to order up to an addition four (4) ships.
    • GEV  and  CIMC  Raffles  Group  also  jointly  working  on  process  engineering  and  areas  of  detailed design for the entire CNG supply chain as part of the recently announced Strategic Alliance.
    • CNG Commercialisation Study now underway for an in-development offshore field in the Pre-salt Brazil, with scheduled completion in March 2020.
    • Due Diligence continues to define a proposal for anew CNG export project from the US Gulf Coast to Mexico and other markets in the Caribbean.

    Executive  Chairman  and  CEO  Maurice  Brand commented: “GEV  is  delighted  to  be  working with  theCIMC  Raffles group of companies as we progress a number of CNG project opportunities. The extension of the LOI with no change to the terms is a strong endorsement of the quality of our projects and progress being made by our team.”

    GEV  would  also  like  to thank  all  shareholders  and  advisors  for  their  support  of  the  Company  during  2019. Management remainconfident in the commercialisation of the CNG Optimum ship together with our “pipe to pipe” gas  transport model which continues  to  gain  momentum  in  the  Brazil  offshore  gas  market  with  the  first  CNG Commercialisation  Study  due  for  completion  in  the  March  quarter 2020.  Our  due  diligence  on  the  recently announced US Gulf Coast offshore export facility is nearing completion and we expect to make an update early in the current quarter.”

    CIMC  Raffles  has  a  successful  track  record  of  delivering  in  excess  of  USD  6  Billion  in  EPC  contracts  since  2012, experience  with  CNG  systems,  and  moving  forward,  their  scale  of  operations  with  three  yards  will  support  our growth aspirations of multiple CNG projects requiring shipbuilding contracts.

2020 October 21

18:30 Hyundai Motors to ship 50 hydrogen trucks via the port of Antwerp
18:06 NYK Group dry bulk carrier rescues sailors off the coast of Indonesia
17:36 MAN Energy Solutions to lead Danish consortium developing ammonia-fuelled engine for Maritime sector
17:19 NSR cargo traffic to exceed 31 million tonnes in 2020 – Aleksey Likhachev
17:05 Stena Embla successfully completes sea trials
16:41 Port of Rotterdam throughput in first three quarters of 2020 falls 8.8% short of last year’s total
16:16 Steerprop azimuth propulsion to propel shallow-draught icebreaking walk-to-work vessel
16:05 Port of Rotterdam Authority starts to produce and spread bokashi
15:47 Lenpromavtomatika to supply control system for LNG-powered passenger vessel Chaika
15:33 First Ship-to-Ship LNG bunkering business to commence in Japan
15:04 Optimodal adds new train service between Antwerp and Neuss, Germany
14:04 Northwest Seaport Alliance handles 308,682 TEUs in September 2020
13:30 RF Navy’s frigate Admiral Kasatonov starts anti-submarine exercises in the Barents Sea
13:04 Port of San Diego invites the public to review and provide feedback on the Revised Draft PMPU
12:37 Meeting on implementation of project for development of Kaliningrad seaport infrastructure held in Pionersky
12:32 Lead nuclear-powered icebreaker of Project 22220, Arktika, delivered to Atomflot
12:03 IPCSA expands its membership into South America with its latest member Procomex of Brazil
11:50 BLRT Grupp built unique offshore fish farming barge
11:31 Lead nuclear-powered icebreaker of Project 22220 to start operating in NSR waters from December 2020
11:00 Kongsberg Digital’s K-Sim® Fishery simulator wins the coveted SAFETY4SEA 2020 Training Award
10:25 Yet another batch of large-size equipment for new ethylene plant delivered to Nizhnekamsk
10:02 Yevgeny Norenko takes position of Managing Director at Nobel Brothers and Vimpel shipyards
09:43 Bunker prices rise in the Port of Saint-Petersburg, Russia (graph)
09:24 Oil prices continue decreasing in response to US reserves growth
09:06 Baltic Dry Index as of October 20
09:05 CMA CGM announces PSS from North Europe to Asia
08:21 MABUX: Bunker market this morning, Oct 21

2020 October 20

18:30 APM Terminals expands API offering and terminal coverage
18:17 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to the Indian Subcontinent
18:00 Okskaya Shipyard launches second multipurpose dry cargo carrier of Project RSD59 for Astrol
17:36 Equinor signs contract with Skanska for building site preparation and the construction of jetty facilities for the CO2 receiving terminal
17:03 Van Oord becomes the shareholder in Saare Wind Energy
16:38 Wan Hai Lines to launch China – India Service VI (CI6) Service
16:28 Tiksi port expansion is expected as new fields can be discovered in the region
16:03 Jotun offers Superyachts unique lifecycle support with launch of JotunCare
15:44 Rosmorport collects applications for debut bonds in amount of RUB 4 billion
15:30 DCSA publishes standard data definitions to enable just-in-time port calls
15:12 ESPO congratulates Port of Valencia for renewing PERS certification
14:23 Samsung Heavy Industries again chooses Wärtsilä cargo handling system design for new VLEC vessels
13:41 Modernization of port Tiksi to build up throughput to 300,000 tonnes
13:25 Port of Antwerp participates in developing and testing a private 5G network
13:20 Bunker prices are slightly up in the Far East ports of Russia (graph)
13:02 Port Houston container volumes up 1% to 251,524 TEUs in September 2020
12:33 RF Ministry of Economic Development to allocate RUB 2.8 billion for creation of port SEZ in Astrakhan Region
12:19 DNG Energy receives a licence for LNG bunkering in Coega
11:00 KSS Line signs with Hyundai Global Services for smart ship solution powered by Inmarsat and Intellian
10:58 ASW ship Vice-Admiral Kulakov and support vessels of RF Navy’s Northern Fleet enter Greece
10:37 Admiral Makarov frigate of RF Navy’s Black Sea Fleet passes Black Sea straits
10:12 LUKOIL and Rostec sign cooperation agreement
10:02 MABUX: Bunker market this morning, Oct.20
09:49 Shipbuilding Corporation “Ak Bars” to tell about passenger ship Chaika at 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
09:26 Oil prices decrease amid second COVID-19 wave concerns
09:14 Baltic Dry Index as of October 19

2020 October 19

18:11 CMA CGM to launch the East Med - Black Sea Express
18:01 Taganrog coastal station of NAVTEX service obtains certificate of conformity
17:48 BPA to host 5G workshop
17:27 FESCO to supply India's research stations in Antarctica for the third year in a row
17:06 Valenciaport registers the record with 477,194 containers handled in September 2020
16:46 4th “LNG Fleet, LNG Bunkering and Alternatives” conference to be held online on 28 October 2020
16:05 Milaha obtains “ISO 27001” certification for Information Security Management System