TMT switching focus to LNG

Taipei: Taiwan’s TMT has said it is contemplating converting four VLOCs into LNG tankers as a wrangle over payment with BHP Billiton shows little sign of concluding, Bloomberg reports.

TMT has recently cancelled a number of bulker newbuilds at Hyundai Heavy Industries, but still has the four VLOCs to be built there. TMT boss Nobu Su also told Bloomberg that he had signed an initial agreement with Japanese shipbuilder IHI Corp on the construction of LNG vessels. He also said TMT has reached agreement with the government of Sao Tome & Principe regarding the development of floating LNG facilities.  [19/10/12]

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