Norwegian shipowner BW LNG has taken delivery of the 173,400m³ BW Magnolia from South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME).
The vessel — fourth of nine orders placed with DSME — will immediately begin a long-term charter with BP, and is currently en route to Indonesia's Bontang export facility, probably to load its maiden cargo.
Delivery to BW LNG had initially been expected by December last year, although the owner did not note any reasons for the delayed delivery of the vessel, which has a two-stroke propulsion and reliquefaction capability.
And the firm had stated in July last year that only seven orders had been placed with DSME, suggesting that BW LNG has placed more orders with DSME, despite the LNG freight market entering what is seen by a number of owners as an era of surplus tonnage.
But the owner has been converting a number of newbuild vessels into floating storage and regasification units (FSRUs), including the 173,400m³ BW Magna — second of the nine DSME orders — delivered in 2019. The vessel underwent modification at Singapore-based Sembcorp's Marine Admiralty Yard last year, and arrived at Brazil's Acu port in late January for installation as the FSRU for the Gas Natural Acu (GNA) consortium's planned 3GW LNG-to-power project at the port.
BW LNG has a total of four LNG carriers operating as FSRUs, three of which were built in 2017-19.
All remaining vessels ordered by BW LNG with DSME will have a capacity of 174,000m³, with the exception of the next scheduled delivery, which will be marginally smaller at 173,400m³. The five vessels are scheduled for delivery to BW LNG in the next two years.
