Cryogenic valve specialist, Parker Bestobell Marine, has received an order from South Korean company Daewoo Shipbuilding and Marine Engineering (DSME) to supply its valves for a further three liquefied natural gas (LNG) carriers.
Built on behalf of Canadian company Teekay, Parker Bestobell Marine had already supplied globe and check valves for the previous five vessels, with the first order originally secured in September 2014.
This latest order signals a homerun for the UK-based business, as its equipment has now been ordered and incorporated into all eight vessels in Teekay’s series.
Duncan Gaskin, Parker Bestobell Marine’s Market Development Manager, emphasised, “We are delighted that DSME has specified our cryogenic valves for all eight vessels in this series. We have a strong working relationship with DSME with a firm commitment to delivering our high quality valves on time and in line with their production schedules. This is a very important consideration for DSME’s LNG new build projects.”
Parker Bestobell Marine launched its new range of high-pressure, cryogenic valves in May 2016. The devices can withstand pressures of up to 625 bar with the set including manual, gearbox operation, single actuator and tandem actuator valves.
Dip in the sector
The recent dip in the LNG sector with extremely low oil prices constricting growth has made it difficult for companies to source new business deals, with Gaskin highlighting, “Last year saw the number of liquefied natural gas carriers (LNGCs) and floating storage and regasification units (FSRUs) contracted more than halve, and this year will struggle to match that.”
In response to this worldwide slowdown, he explained that his corporation developed this range of valves with the theory that, “As worldwide markets look to reduce air pollutants and with the introduction of emission control areas (ECAs), we expect to see demand increase for high pressure valves that are marine approved.”