Hoegh Expands Fleet with 2 New Vessels

On the June 1, the GDF SUEZ Cape Ann, a new built Shuttle and Regasification Vessel (SRV) was delivered to Höegh LNG and co-owner Mitsui OSK Lines (MOL). Höegh LNG will manage the vessel under a long-term time charter agreement with leading energy provider GDF SUEZ. On the same day, Höegh LNG took delivery of the LNG Carrier STX Frontier at Hanjin Heavy Industries and Construction Co. Ltd as Manager. Höegh LNG will charter this vessel for a three year period from 3rd quarter this year.

Says Sveinung J. Støhle, President & CEO of Höegh LNG,  "June 1, 2010, is really a first for Höegh LNG, since we took delivery of two newbuilt vessels on this day. The two vessels are naturally very different, since one is our second SRV and the other is a standard LNG carrier, but they both underscore what we as Höegh LNG is all about: Technical innovation and the ability to add value through the services we provide to our customers."


Along with her sister-ship, the GDF SUEZ Neptune, the GDF SUEZ Cape Ann is equipped with her own LNG regasification system, allowing her to regasify and discharge natural gas under high pressure directly into a designated Deep Water Port, such as GDF SUEZ's Neptune LNG Deep Water Port off the coast of Massachusetts, USA. These SRVs also give access to new markets which do not have onshore terminals at their disposal.

The innovative SRVs have both been constructed at the Samsung Heavy Industries (SHI) facility, located on Geoje Island, South Korea. They are owned jointly by Höegh LNG and MOL, and both will be managed by Höegh LNG for GDF SUEZ under long-term time charter agreements.

The GDF SUEZ Neptune and the GDF SUEZ Cape Ann vessels incorporate the reinforced GTT MKIII cargo containment system with a 145,000 cu.m capacity. They are fitted with three state-of-the-art regasification skids for a total maximum output capacity of approximately 21 million standard cu.m of natural gas per day, and are also fully capable of operating as standard LNG carriers. The vessels are equipped with Dual Fuel Diesel Electric propulsion system which makes it possible to achieve a substantial improvement in overall propulsion efficiency and reduces the amount of greenhouse gas emissions.

Both GDF SUEZ Neptune and GDF SUEZ Cape Ann have DNV Class and carry Norwegian Flag (NIS) and have received the Green Passport from DNV certifying the environmental considerations taken when constructing, operating and ultimately disposing of the vessels.

STX Frontier

Höegh LNG took delivery of the LNG Carrier STX Frontier at Hanjin Heavy Industries and Construction as Manager. Höegh LNG will take delivery of the vessel as Charterer in 3rd quarter for a three year period plus options, and will sub-let the vessel to Repsol for the same period.

STX Pan Ocean LNG, STX Pan Ocean, and Höegh LNG entered into a Hire Agreement on September 28, 2009 for employment of the vessel. On the same date Höegh LNG singed a 33 month Time Charter with Repsol.

The 153,000 cu.m Mk III membrane vessel is constructed with dual class (KR and DNV) and will carry Singapore flag.