Today, the Panama Canal marked another milestone with the transit of the first-ever liquefied natural gas (LNG) carrier through its expanded locks. Shell-chartered Maran Gas Apollonia—measuring 289 meters in length and 45 meters in beam—arrived Monday from the Sabine Pass LNG Terminal on the U.S. Gulf Coast, signaling the arrival of the highly-anticipated segment to the waterway. “The transit of the first LNG vessel through the new Panama Canal locks is a milestone in the waterway’s history,” said Panama Canal Administrator and CEO Jorge L. Quijano. “LNG trade will greatly benefit from the Expansion, and we look forward to welcoming even more LNG vessels through our great waterway. This transit marks the beginning of a new era that will result in cleaner and lower cost energy for the world.” The Expanded Canal can accommodate 90 percent of the world’s LNG tankers, which will have a major impact on global LNG flows and offer numerous benefits to shippers. For example, with the United States poised to become one of the world’s top LNG exporters in the next five years, the Canal will allow vessels departing the U.S. East and Gulf Coast for Asia to enjoy significant reductions in voyage times (up to 22.8 days roundtrip), making U.S. gas deliveries to major Asian importers very competitive. Vessels departing the U.S
Höegh LNG and Mitsui OSK Lines, Ltd. (MOL) confirm the signing of long term time charter parties for two Shuttle and Regasification Vessels (SRV) with SUEZ LNG Trading SA. These vessels are specifically designed to service an offshore natural gas import terminal to be built in Massachusetts Bay offshore the city of Boston on the US East Coast. The vessels will be delivered in 2009 and 2010. The SUEZ owned Neptune LNG LLC received the final license issued by MARAD for the construction of the
Cheniere's North American LNG Gateway Program with issuance of a Request for Proposals to sell to Cheniere up to 200 cargoes per year of liquefied natural gas (LNG) for the years 2008 - 2010. Cheniere's North American LNG Gateway(TM) program will provide global LNG suppliers a direct platform to nominate cargoes into Cheniere's LNG receiving terminals starting with the Sabine Pass LNG Receiving Terminal, which is currently under construction in Louisiana
World LNG demand is forecast to rise from 158 billion cubic meter (bcm) to 269 bcm by 2010 and to 428.5 bcm by 2020. This growth represents an average annual trade growth of 7.6% over the near-term, with a slowing to 5.4% through to 2015 and 4.9% up to 2020. Such trade growth will necessitate an increased vessel building program. Currently there are 59 vessels on order, but to match the expected development of trade volumes an additional 33 vessels are required through to 2010
With two major LNG conferences taking place this week on opposite sides of the world - the third annual LNG Global Congress in London and the World LNG Series Asia Pacific Summit in Singapore - AtoBviaC, the specialist maritime route provider, has carried out a thorough review of all LNG trades to ensure that key ports and vessel manoeuvres in this important sector remain covered. LNG vessels are some of the most expensive in the industry
European oil major Total has agreed to supply 500,000 tonnes a year of liquefied natural gas (LNG) for 10 years to China's privately-run ENN Group, Total said on Thursday. The supplies of the super-chilled natural gas will start in 2018 upon completion of ENN's planned receiving facility near the eastern coastal city of Zhoushan, Total said in a statement on its website. Beijing is freeing up the nation's LNG trade as part of broad reforms that allow private companies to invest in oil
Amarcon and GTT will develop technology that enhances the quality of sloshing measurement and prediction. Amarcon, a member of the ABB group, today announced it has signed an agreement with GTT (Gaztransport & Technigaz) on mutual development of forecasting and advice software system onboard LNG carriers. The deal was closed during the Gastech exhibition in London. GTT (Gaztransport & Technigaz) is a French engineering company formed in 1994 by the merger of the two major players
International classification society Bureau Veritas is classing the world’s largest bilobe gas tanks. They are nearing completion at China’s Sinopacific yard and will be installed in a series of four 27,500 cu m semi-refrigerated LNG/Ethylene carriers building for Denmark’s Evergas. Each of the IMO Type C bilobe tanks has a capacity of 9,686 cu m. Two of the tanks in each vessel will be supplemented by a third conical Type C cargo tank and a smaller LNG fuel tank on the
Asian spot liquefied natural gas prices ended their 2-month rally this week, interrupted by weak demand in Japan and South Korea as falling crude oil prices push importers to turn to oil-linked long-term LNG supplies. Spot LNG prices for November delivery lost ground to $14.60 per million British thermal units (mmBtu), versus $15 per mmBtu last week, amid still scarce demand from end-users in Asia. Most LNG trade takes place via 20-year supply deals offered by major oil companies and
There are a number of exciting LNG liquefaction prospects around the world in 2016, both under construction and prospective. The question is whether the demand of East Asia is strong enough to support the economics of an abundant supply of liquefaction opportunities. A report by Visiongain tackles that question, forecasting the feasibility and likelihood of further liquefaction and regasification investment around the world.
United European Car Carriers (UECC), owned equally by NYK and Wallenius Lines, held a naming ceremony on November 21 at the Port of Zeebrugge, Belgium, for Auto Eco, the world’s first LNG-fueled pure car and truck carrier (PCTC). Auto Eco had been delivered to UECC on September 29.
United European Car Carriers (UECC), daughter company of Nippon Yusen Kabushiki Kaisha (NYK) and Wallenius Lines, signed a contract in 2014 for the construction of two dual fuel LNG Pure Car and Truck Carriers. The first vessel, de ms AUTO ECO
Höegh LNG Holdings Ltd. has signed a Letter of Intent ("LOI") for one firm and three optional FSRUs at Samsung Heavy Industries (SHI) in South Korea. The 170,000 m3 FSRUs have regasification capacity of 750 MMScf/day and full trading capabilities
Norway’s floating liquefied natural gas company Höegh LNG has signed a Letter of Intent (LOI) for one firm and three optional floating storage and regasification units (FSRUs) at South Korea’s Samsung Heavy Industries (SHI).
Highlighting the economic impact under the Jones Act of its $500 million investment in the trade between the U.S. mainland and Puerto Rico, Crowley Maritime Corporation’s liner services group reached new milestones in its construction of two new
Indian Oil Corporation has launched a tender seeking to buy two liquefied natural gas (LNG) cargoes for December delivery which is due to close on Oct. 25, trade sources said. IOC is to take receipt of the volumes on Dec. 6 and Dec. 21.
Egypt launched the world's biggest tender for liquefied natural gas (LNG) as officials from top energy companies and trading houses converged on Cairo undeterred by new rules that could force them to wait for as long as six months to get paid.
Asian spot liquefied natural gas (LNG) prices rose this week as strong expected demand from South Korea added to appetite from India and Taiwan, while supply from the United States was slow to return from maintenance. The price of LNG for December delivery was $6
Dynagas LNG Partners LP has entered into a new long term time charter agreement with Gazprom Marketing & Trading Singapore Pte Ltd. for the employment of the 2007 built 150,000 cubic meter steam turbine LNG carrier Clean Energy.
If Asian buyers continue to divert their contracted supply from the US towards Europe and Latin America, it will reduce demand for LNG vessels in the long term by cutting down on long-haul trade, according to the latest edition of the LNG Forecaster report published by global shipping
Asian spot liquefied natural gas (LNG) prices rose this week on the back of rallying gas benchmarks in Europe and a production outage in Angola. The price of LNG for December delivery was $7.20 per million British thermal units (mmBtu), up around 25 cents from a week earlier
Nakilat has assumed full ship management and operations of Q-Max LNG carrier Mekaines from STASCo (Shell Trading and Shipping Company Ltd.) with effect from November 7, 2016, as part of the planned and phased transition announced on October 19, 2016.
Japan's Fair Trade Commission (JFTC) has ordered the country's liquefied natural gas (LNG) buyers to provide details on contract requirements that prevent them from reselling the fuel to third parties, according to a source with direct knowledge of the inquiry.
Honolulu-based Pasha Hawaii said the company narrowed its selection to two U.S. shipyards for the construction of two new Liquefied Natural Gas (LNG) fueled containerships, with the option to order two additional vessels. Contract specifications are expected to be finalized by the end of the month
cut Umm Slal_edited (greg d:) Nakilat has assumed full ship management and operations of Q-Max LNG carrier Umm Slal from STASCo (Shell Trading and Shipping Company Ltd.) effective November 23, 2016, as part of the planned transition announced last month.