Deals this week: Wartsila, Golden-Agri Stena, Yangzijiang Shipbuilding (YZJ)

19 October 2018 (Last Updated October 19th, 2018 16:07)

Ponant, a cruise ship operator based in France, has awarded a contract to Wärtsilä for the delivery of 31DF dual-fuel engines for its new polar ice-class luxury cruise vessel.

Ponant, a cruise ship operator based in France, has awarded a contract to Wärtsilä for the delivery of 31DF dual-fuel engines for its new polar ice-class luxury cruise vessel.

The liquefied natural gas (LNG) powered vessel is under construction at Vard Søviknes in Norway. It will be deployed in Arctic and Antarctic regions.

Wärtsilä will supply four 14-cylinder and two ten-cylinder 31DF engines by the end of 2020. It will also provide a fuel gas supply system and Nacos Platinum advanced navigation equipment for the vessel.

Golden-Agri Stena and Bay Crest Management have agreed to set up a new joint venture (JV) to offer commercial management and operational solutions for chemical tankers.

Designated as GSB Tankers, the JV is expected to start operations from January 2019.

The JV will be based in Singapore and will have offices in Dubai, United Arab Emirates (UAE), and Japan.

The initial management capacity of the JV will be 18 chemical tankers, which will be increased to 30 within two years.

A shareholder agreement for the formation of a new JV has been signed between Yangzijiang Shipbuilding (YZJ), Mitsui E&S Shipbuilding (MES-SC), and Mitsui.

“The initial management capacity of the JV will be 18 chemical tankers, which will be increased to 30 within two years.”

The initial share capital of the JV will be $99.9m, whereas the capital investment will be approximately $299m.

The JV is expected to start its operations from the Taicang yard’s production site in Jiangsu, China, in April 2019.

Yangzijiang will be the majority stakeholder in the JV, with a stake of 51%.

Chinese Bluesoul has been awarded a contract by Stena Bulk for the installation of turnkey exhaust gas scrubber solution on its Suezmax and IMOIIMAX fleets.

The scrubber solution will be deployed on 15 vessels in both fleets.

The agreement also provides six additional options for installation before 2020.

The hybrid-ready open loop scrubber will remove sulphur and other particles from the exhaust.