DSME Wins Order for Novel LNG Transshipment Barges

Daewoo Shipbuilding & Marine Engineering (DSME) has received a novel order for a new vessel class: a $750 million contract for the construction of two floating LNG transshipment barges for a Russian client and its parter companies (Russian LNG producer Novatek, Russian state leasing agency GTLK and shipowner MOL). 

The barges will serve a longstanding plan to transfer cargoes from the costly icebreaking LNG carriers that serve Novatek's Yamal LNG plant in the Russian Arctic onto general-purpose LNG carriers at intermediate positions along the route to market. One of the terminals will be stationed at Kamchatka and a second near Murmansk, just outside of the icebound portions of the Northern Sea Route.

This logistics plan will free up more ton-mile availability for icebreaking carriers to serve Yamal and the future Arctic LNG 2 plant on the Gulf of Ob. With 360,000 cubic meters of capacity, the new transshipment barges will be able to hold the contents of two of the icebreaking vessels - enough cargo to fill three standard LNG carriers for final deliveries to EU and Asian markets.

The two barges should be completed by the end of 2022, and the client holds options for an additional two in the series.