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TGE Marine wins several new contracts

30 Jun 2011

During the last couple of weeks TGE Marine Gas Engineering has obtained a number of new contracts for the engineering and delivery of gas handling systems.

In March contracts were signed with STX, Korea, for the supply of gas plants and cargo tanks for 3 × 6,800 cbm LEG-carriers. The ships were ordered by Unigas pool partners Schulte Group, Sloman-Neptun and Othello Shipping and will be delivered in 2012 and 2013. Options for a further three vessels had been agreed upon and were converted into firm orders at the beginning of May.

A further contract was signed with Meyer-Werft for the engineering and delivery of the gas handling system for a new generation of a 15,600 cbm LNG-carrier ordered by the Dutch owner Anthony Veder Group. TGE Marine Gas Engineering developed the concept of the ship in close co-operation with the owner. The ship, which will be delivered at the end of 2012, has a long term charter commitment with Nordic LNG and will supply Norway’s coast, Sweden and other Baltic countries with LNG.

Furthermore Anthony Veder has declared an option held by Dingheng Shipyard, China, for another 6,500 cbm LEG-carrier. The contract between TGE Marine and Anthony Veder for the supply of the gas handling system and cargo tanks already came into force at the end of May. The contracts' combined value exceeds €57 mill.

TGE Marine’s CEO Manfred Küver commented: “Being awarded 7 new contracts for the supply of gas plants and cargo tanks for LEG-carriers further strengthens TGE Marine's market leading position. The contract with Meyer Werft for the next generation of small LNG carriers for coastal trade makes us particularly proud for two reasons: Not only has TGE Marine been working on the technological development for this niche market for a few years now but we have also successfully completed many projects with the owner of the vessel, Anthony Veder Group. We expect to see substantial growth in this specific market segment in the near future.”

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TGE Marine Gas Engineering GmbH | Mildred-Scheel-Strasse 1 | 53175 Bonn | GERMANY | Phone: +49 228 50218 0 | Fax: +49 228 50218 880