US-based Excelerate Energy has completed the transition of its entire fleet of floating storage and regasification units (FSRUs) to its wholly owned ship management arm, Excelerate Technical Management (ETM)
Excelerate president and chief executive Steven Kobos said, “Transitioning 10 ships in 10 months is a tremendous accomplishment in any year, but especially in 2020. Through ETM, we look forward to continuing to provide the seamless service our customers have come to know and expect.”
Excelerate initiated several precautionary measures to safeguard its crew and personnel during the Covid-19 pandemic.
Excelerate began transitioning its fleet in February with FSRU Experience, after the Republic of the Marshall Islands and the Government of Belgium awarded Interim
Documents of Compliance under the ISM Code to ETM. Excelerate completed the transition of the 10th and final FSRU Excellence on 28 October.
As each FSRU undergoes scheduled maintenance and upgrades, Excelerate plans to repaint its vessels in the corporate brand colors and design.
“At Excelerate, we hold ourselves to the highest standards, and this transition gives us an opportunity to enhance our already rigorous safety management programmes,” said Excelerate Energy executive vice president and chief operating officer Cal Bancroft.
In June, Excelerate took delivery of Excelerate Sequoia from South Korea’s Daewoo Shipbuilding & Marine Engineering, expanding its fleet to 10 FSRUs – one of the largest in the world. Excelerate Sequoia, with a storage capacity of 173,400 m3, is capable of operating as both an FSRU and a fully tradeable LNG carrier. In September, Excelerate and Maran Gas Maritime signed a five-year bareboat charter agreement (BBC) for the FSRU. Excelerate will have the option to purchase Excelerate Sequoia during the five-year BBC.
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