Experts from Braemar LNG Group gave a full audience a truncated overview relating the technical, commercial and market trends of the often very complex world of LNG shipping.
Andy Bright, Director, (Braemar Engineering) concentrated on the advanced technology and very precise engineering requirements around containment systems and propulsion options. Bright also said that the group was in advanced stages of approval for a new containment system designed by Braemar, particularly suited to small scale LNG including bunkering although not size limited.
Andrew Selby Bennett, (Commercial LNG Shipping, Braemar ACM London) focused on the relevance of the technical specifications to the commercial decisions, demonstrating the importance to the value of the speed and consumption on the differing types of 125-175,000 cubic metre vessels.
Jordan Neil (Senior LNG shipping Broker, London) gave an insightful market overview of tonnage supply and demand, with LNG trading with Japan being the highest importer in 2016 with 32% of the overall market.
The commercial team started in the UK 15 years ago and has expanded into the Americas and Far East servicing the increasing spot markets as well as maintain relationships with the project markets.
Denis Petropoulos, Director of Braemar Shipping Services plc summed up his colleagues’ presentations by saying:
“Our involvement in the design of a new type of containment system may be ground breaking, potentially useful in small scale LNG, such as distribution of smaller parcels as well as bunkering. There is no reason the system cannot be larger competing with those we are already familiar with.
“The group has extensive experience in the major LNG construction yards in Korea, Japan, as well as China and our technical expertise has been called into the conversions and construction of FSU’s and FSRU’s in Singapore. Being located in the major shipping centres serving the Atlantic, Europe, Africa and the Middle East, where many of our major customers are based, we are also involved with onshore projects.”