LNT Marine was established as a merger between LNG New Technologies and MGI Thermo in 2017, which again had its origin from Marin Gas Insulation and Thermo Service. The roots of the company and its founding partners go however decades back in time.
The company’s competence and experience with reefers relates back to Drammen Slip & Verksted in the 1960’s. From the late 1960’s to the 1980’s the shipyard in Drammen (Norway) developed a niche within refrigerated cargo ships and built in total 45 reefers and freezer vessels. Tore Foss had decades of experience with marine insulation systems from Teknisk Isolering (TI) and moved on in 1977 and established Thermo Service to serve this market for refrigerated cargo ships.
His son, Stein Foss, joined the business in the early 1990’s, and the company focused more on the international shipbuilding market as construction of traditional cargo vessels was no longer competitive in Norway. In year 2000, Gunnar Bærheim, a pioneer within insulation of Moss type LNG carriers joined Thermo Service. Later on, Sverre Øien, also a veteran within insulation of Moss type LNG carriers joined the company, but the company was still focused on newbuilding and repair of refrigerated cargo ships.
Marine Gas Insulation (MGI) was established by Per Ivar Nikolaisen in 2009 to offer insulation systems for gas carriers. Also Mr.Nikolaisen had background from Teknisk Isolering (TI) and Finetec and was a pioneer within spray foam insulation systems for LPG carriers. During his work in Korea he got to know Chang Eun Jung who later joined the company. Within MGI and Finetec spray foam insulation systems were further developed for ethylene carrier applications and eventually also for small scale LNG carriers, whereas I.M.Skaugen’s so called Multigas carriers were the first full scale application. This was a series of 10,000m3 and 12,000m3 LNG carriers based on type C tanks. MGI did also the first insulation system upgrade on a Moss type LNG carrier with spray foam, when the Golar Frost was converted to FSRU Toscana.
LNG New Technologies was established in 2011 by a team of former I.M.Skaugen employees and affiliates, including David Wu, Bård & Andreas Norberg and Kjetil Sjølie Strand. They had all been heavily involved with design and construction of various types gas carriers in China including LPG carriers, ethylene carriers and the mentioned Multigas small scale LNG carriers. The Multigas carriers were based on a series of ethylene carriers built in China around year 2000. These ships were designed in cooperation with Carl Bro of Denmark where Peter S. Bendtsen was the project manager, and classified by DNV where Jørn M. Jonas was the class’ project manager.
From early 2000 Capt. Norberg and Mr. Strand were heading the development of small scale LNG carriers and related solutions for Norwegian shipowner I.M.Skaugen which resulted in the mini LNG reliquefaction system and the Mulitgas carriers based on independent tank type C. Over the years they saw a need for larger LNG carriers to serve the growing local and regional trades of LNG. There was a need for vessels larger than what the type C tanks economically could offer, but still smaller than the conventional membrane and Moss type LNG carriers. Thus, the idea of developing a new simple and efficient containment system for LNG evolved. This was the sole purpose of the establishment of LNG New Technologies.
Shortly after its inception LNG New Technologies formed an alliance with MGI to jointly develop the LNT A-BOX containment. A couple of years later MGI merged with Thermo Services to join their forces within various types on insulation systems and MGI Thermo was established. Due to the close cooperation with regards to the LNT A-BOX containment system, LNG New Technologies acquired a stake in MGI Thermo. In 2017 the partners decided to merge LNG New Technologies and MGI Thermo, and LNT Marine was established to form a one-stop-shop for LNG containment, LNG fuel tank systems and other refrigerated cargo.
Most of our business is already related to the LNG markets and these sectors are set to grow rapidly in the coming years. Thus, the LNG market is expected to be the main focus area of the company going forward, with continued focus on innovation and proprietary technologies differentiating ourselves from competitors and creating competitive advantages.