Q-LNG and VT Halter in LOI for second, larger LNG bunkering ATB

8,000 cu.m LNG bunkering vessel 8,000 cu.m LNG bunkering vessel

AUGUST 29, 2018 — Quality Liquefied Natural Gas Transport, LLC (Q-LNG) and shipbuilder VT Halter Marine have executed a letter of intent to build a second, larger LNG bunkering vessel.

VT Halter is currently building a 4,000 cu.m ATB LNG bunkering barge for Q-LNG that will go on a long-term charter to Shell Trading (US) Company, supplying LNG to marine customers along the southern East Coast of the U.S. and support growing cruise line demand for LNG marine fuel.

The vessel covered by the new LOI is designed to carry 8,000 cu.m of LNG and is being built on speculation.

Q-LNG is owned 70% by Harvey Gulf International Marine CEO Shane Guidry and 30% by Harvey Gulf.

Today Mr.Guidry, commented, "With the past and recent announcements by major cruise lines to build and deliver LNG powered cruise ships to the U.S. market, Q-LNG is committed to deliver the safest, most cost effective solution to the cruise line industry."

"We have entered into this letter of intent to advance the project through design verification, finalize our construction and pricing proposal, and arrange financing," said Mr. Guidry. "Having the full commitment of VT Halter, we are confident that the construction of the second vessel for Q-LNG, will be equally successful."

Mr. Guidry said that the new project will mirror closely the current vessel under construction, by utilizing a significant amount of the detail design and engineering.

"The new 8,000 cubic meter design captures all lessons and efficiencies learned from the first ATB," said Mr. Guidry. "Thus, Q-LNG will be able to deliver the follow-on design in a shorter period of time at a highly competitive price. By working with current equipment suppliers, we are able to leverage cost saving efficiencies while ensuring a positive outcome for the delivery and reliability during operations."

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