Excelerate Energy to manage its FSRU fleet through new subsidiary

Written by Nick Blenkey
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Excelerate’s rebranded FSRU Experience leaving Navantia dry docks in Ferrol, Spain (Image: Excelerate Energy)

The Woodlands, Texas, headquartered Excelerate Energy L.P. is to manage its fleet of FSRUs through a new wholly-owned subsidiary, rather than using a third-party ship manager.

The company reports that the Republic of the Marshall Islands and the Government of Belgium have awarded Interim Documents of Compliance (DoC) under the International Safety Management (ISM) Code to the new subsidiary, Excelerate Technical Management (ETM).

The ISM DoC authorizes ETM to operate as ship manager for Excelerate’s entire fleet of floating storage and regasification units (FSRUs). The Interim DoC is the result of an audit of ETM’s safety management system, confirming compliance with ISM standards which ensure the safe operation of its crew and vessels.

Excelerate’s FSRU Experience is the first of its vessels under ETM ship management. The vessel recently left Navantia dry docks in Fene-Ferrol, Spain, on February 6, 2020, where she underwent scheduled maintenance and upgrades. Also, while in dry dock, the FSRU was rebranded and painted in Excelerate’s brand colors and design, the first of the fleet.

“Excelerate has achieved a company milestone with the successful launch of our ship management services. The compliance certification is tangible evidence of the forward-thinking, dedicated effort of our team. We are pleased to offer our clients the advantages of integrated service as a fully independent provider of floating LNG solutions,” said Excelerate President and Managing Director Steven Kobos. “As the largest and most reliable provider of FSRU-based services in the world, Excelerate has built a track record of delivering creative and timely energy solutions for over 15 years. We have endeavored over the past several years to integrate the components of our business that have the greatest impact on our ability to provide flexible and seamless service to our clients.”

“The physical rebranding of the fleet in our own colors reinforces the Excelerate fleet as part of one effort and one culture committed to our core values,” Kobos explained. “The new livery identifies our assets across the world as uniquely Excelerate.”

The fleet will be repainted in the new colors as part of scheduled maintenance.

Excelerate will transition its entire fleet to ETM ship management by the end of 2020.

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