Bahrain: Skaugen Gulf Petchem Carriers BSC Adds New Multi-Purpose Vessel to Its Fleet

Under the kind auspices of His Royal Highness Prince Khalifa bin Salman Al Khalifa the Prime Minister, the launching ceremony for the latest state-of-the-art multi-purpose ship “Bahrain Vision” was organized at the Khalifa bin Salman seaport in al-Hidd on November 14, 2011 in coordination with the National Oil and Gas Authority (NOGA).

Marking the occasion, Energy Minister Dr. Abdul Hussein bin Ali Mirza said that HRH the Premier’s patronage of the ceremony reflects his continuous support for the energy sector projects and functions, noting that investments in transportation of petrochemical products enhance the momentum of development in the Kingdom, in line with the Kingdom of Bahrain government’s policies aimed at boosting the national economy through increased national revenue and boosting development programs.

Dr. Mirza remarked that “Skaugen Gulf Petchem Carriers BSC”, a joint venture between IM Skaugen, Capital Management House and Noga Holding, was launched in 2010 as a joint venture for buying and chartering carriers to transport liquefied natural gas (LNG) and other petrochemical products and gas from production areas in the Middle East to a number of South East Asian markets and particularly to China. The Minister asserted that this is an investment in harmony with NOGA’s strategy which aims to consolidate oil investments and to cater to the increasingly growing demand for energy, adding that building a partnership with I M Skaugen, a 100-year-old establishment specialized in transporting petrochemicals and LNG via its ocean-going fleet, which is a successful step that will increase Noga Holding’s contributions.

The inauguration ceremony attended by a number of businesspeople, investors and specialists from Norway, China, Singapore, Russia, GCC states and other Middle Eastern countries. The day following the ship’s inauguration will be devoted to oil and energy firms and post-graduate university students.

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Source: bna, November 14, 2011