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KS&T completes LNG ship-to-ship transfer

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LNG Industry,

Koch Supply & Trading (KS&T) has announced that it has completed the first of many regular ship-to-ship (STS) LNG transfers with Chinese company JOVO and Malaysian shipowner MISC.

This agreement is the first of its kind for KS&T, JOVO and MISC, and is the first LNG STS transfer in the Philippines. In this particular example, the mother vessel loads a cargo in Australia, before transferring it to a smaller daughter vessel at Subic Bay in the Philippines. The operation is managed by Teekay Marine Solutions, with Teekay and MISC providing experience to help administer a safe and successful transfer. The cargo is then delivered to JOVO’s Chinese terminal, where it is distributed by truck to one of many industrial or commercial customers in Southern China.

Peter Leoni, Director of Trading at Koch Supply & Trading, said: “This partnership between first class shipowners, industry leading STS service providers and innovative LNG consumers allows companies in developing markets to gain new access to global volumes and a wider variety of logistics and infrastructure players.”

Tim Mendelssohn, LNG Freight and Operations Manager at Koch Supply & Trading, added: “Looking at how the LNG market is developing, we are challenging the existing business model as a problem-solving, solution-oriented agent for LNG ship-to-ship transfers in emerging economies around the globe, reducing barriers to market entry.”

Chris Huang, International Manager from JOVO, said: “This project’s complexity, along with a commitment to safe and compliant operations have created an inherently multinational agreement involving multiple 'best in class' stakeholders including MISC, Teekay Marine Solutions, KLAW LNG and JOVO.”

Lu Yuan, General Manager of International Business for JOVO, added: “We appreciate the significant role played by Koch Supply & Trading in orchestrating this historic agreement. Together, we are showing that it is possible for multinational corporations to work together to achieve mutual benefit for society. We hope this arrangement with Koch will be the first of many such innovations in the industry.”

Stephen Davidson, Vice President – LNG, Teekay Marine Solutions, said: “We welcomed this opportunity to work with Koch to bring this project online, and in working with all entities to ensure the operation was conducted in a safe manner following all industry guidelines and recommendations. We hope this is the start of a new long-term partnership with all parties building on the work that has already been completed to bring this first historic job to fruition. We are pleased to be involved in yet another groundbreaking project for the LNG industry.”

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