Fearnleys Weekly reports as many as 24 MR tankers this week. Hyundai Mipo is said to have signed an order for 10 firm plus 10 optional MR tankers from the domestic shipping player Sinokor Merchant Marine. SPP has over the last week also won order for MR tankers, as Ceres Shipping together with JP Morgan jointly exercised their option for 4 additional vessels at the yard. Interesting to observe that the San Diego NASSCO shipyard has received an order for up to four 3100 TEU container vessels from TOTE Maritime.

CNOOC is in discussions with Chinese shipyards to build 14 smaller LNG carriers. The Chinese energy firm is said to be planning an order of four 30,000CBM LNG carriers and ten 10,000CBM vessels. Sinopacific Shipbuilding and AVIC Dingheng Shipbuilding are said to be the likely candidates for the project.

Royal Dutch Shell Plc (RDSA) is expanding plans to make liquefied natural gas a fuel for ships and trucks as Europe’s largest energy producer looks to profit from the cheapness of U.S. gas compared with oil. Shell, where gas production overtook oil for the first time this year, will increase LNG-for-transport projects to more than 5 million tons a year, said Shell Chief Financial Officer Simon Henry.

Golar LNG Limited announced that it has entered into a five year time charter with an integrated energy major for one of its modern LNG carriers, the Golar Maria. The vessel was delivered to the Charterer with effect from November 28 and will remain on charter through the end of 2017.

Little activity this week, according to the Fearnleys Weekly report. Norwegian owner, Jo Tankers and Italian based, Grimaldi Group, placed orders in China and Korea respectively. Both of them are returning clients of each respective shipyard. No major change on price levels, it seems that we will maintain a flat development for the remaining part of 2012.

Golar LNG Partners reports net income attributable to unit holders of $26.8 million and operating income of $43.5 million for the third quarter of 2012. There was a significant improvement in operating results for the third quarter of 2012 compared to the same period in 2011 due largely to the contribution of NR Satu.

In the NWE market, activity this week was relatively silent but we did see quite a few enquiries and fixtures actually realized. As far as tonnage availabilities are concerned, there are still many vessels open spot on a prompt basis and freight rates are still pretty steady but under downward pressure.

Dynagas tanker Ob River carrying liquified natural gas (LNG) is set to become the first ship of its type to sail across the Arctic. The carrier left Norway in November and has sailed north of Russia on its way to Japan. The specially equipped tanker is due to arrive in early December and will shave 20 days off the regular journey.

As part of the "Bilateral S & T Cooperation between China and Greece, 2012-2014", it has been approved by the General Secretariat of Research and Technology of the Greek Ministry of Development and the Department of International Relations of the Ministry of Science & Technology of China, the Research Project LNG-COMSHIP concerning the use of LNG as an alternative propulsion fuel to the existing merchant ships.