Ineos News

With its new CCS-strategy, the European Commission has outlined a common direction for the capture, utilization, and storage of CO2 in the EU. The strategy highlights Denmark as a pioneer in the field, and Danish Shipping predicts that Denmark could play a central role.The strategy, named the "Industrial Carbon Management Strategy," sets the framework for the ambition to build an internal market for CO2, benefiting both the climate and employment. All measures are aimed at achieving…

INEOS Forties Pipeline System (FPS) has selected Liebherr for the supply of a new Ram Luffing (RL) series offshore crane for its Unity Platform in the UK North Sea.After more than 30 years of service, the currently installed RL crane on the Unity Platform has run its course, and will be replaced by Liebherr’s RL 650 technology.The RL 650 crane, said to be particularly suitable for a Not Permanently Attended Installation (NPAI), will fulfil all material handling for the offshore platform…

ABS has awarded Jiangnan Shipyard approval in principle (AiP) for its BrilliancE II IMO Type B cryogenic liquefied gas containment system for very large ethane carriers (VLEC).The BrilliancE II advances the original BrilliancE system first seen in the ABS-classed VLEC Pacific Ineos Belstaff, which was launched at Jiangnan Shipyard in 2021.“Jiangnan is not content with repeating the previous design of VLEC for identical construction. BrilliancE II is the outcome of significant effects on the optimization of ship performance…

Japan's Mitsui O.S.K. Lines,(MOL) has signed a long-term agreement with INEOS Energy Trading, a subsidiary of UK-based INEOS Group Ltd., for the charter of two newbuild LNG carriers. This marks INEOS' entry into the LNG carrier market, and INEOS will use the vessel for the import of LNG into Germany from the United States. "These agreements are a significant milestone for INEOS Energy Trading following the long-term Sales and Purchase Agreement signed with Sempra for 1.4 mtpa of supply out of Port Arthur and the purchase of long-term regasification capacity in Brunsbuttel…

U.S. power and gas utility Sempra Energy said on Monday the first phase of its proposed Port Arthur liquefied natural gas (LNG) export terminal received the financial greenlight to move ahead with investment firm KKR & Co agreeing to a minority stake in the project.Though KKR's investment was not disclosed, an infrastructure fund managed by it will buy a 25% to 49% indirect, non-controlling interest in the project. Sempra Infrastructure Partners, the 70%-owned unit of Sempra, would target 20% to 30% of indirect ownership interest in the project…

Canadian headquartered shipowner Seapeak on Thursday announced it has completed its previously announced acquisition of Danish shipping company Evergas from France-based Jaccar Holdings.Evergas, previously comprising Greenship Gas Trust and Greenship Gas Manager, is one of the world’s leading seaborne transporters of petrochemical gases and natural gas liquids (NGL).The cash deal, worth approximately $700 million, was announced in October and will see Evergas rebrand and operate as a wholly-owned subsidiary of Seapeak. Through the acquisition, Seapeak will add two very large ethane carriers (VLEC) and eight multigas/liquefied natural gas (LNG) carriers to its fleet.Seapeak…

One of the world’s largest ethane carriers was named Pacific INEOS Grenadier during a ceremony held Tuesday in Houston.The 230-meter-long, 99,000 CBM very large ethane carrier (VLEC) and is the latest ship to join the INEOS fleet. It will be operated by Pacific Gas.Built in Jiangnan, China, the ship is fitted with Type B tanks, a new design for transporting liquified ethane that optimizes vessel capacity. The ship also has the potential to carry other products such as liquefied petroleum gas (LPG) and ethylene.At the ceremony…

Britain's INEOS Energy, part of INEOS Group, has signed an agreement with U.S. firm Sempra Infrastructure for the supply of 1.4 million tonnes per annum of liquefied natural gas (LNG) from North America for 20 years, it said on Wednesday.It marks INEOS's entry into the global LNG market, with the volumes intended both for trading and supplying of INEOS' own industrial needs in Europe.The LNG will be delivered free-on-board, from either the proposed Port Arthur LNG Phase 1 project or the Cameron LNG Phase 2 projects in the U.S.

Høglund Marine Solutions has delivered an automation and control system for the Pacific Ineos Belstaff, reported to be the world’s largest ethane carrier.Høglund esigned an integrated automation system with ship performance monitor and a customized control system.The technology was created to support Babcock LGE’s cargo handling system (CHS) and fuel gas supply system (FGSS) for the vessel, which is owned by Pacific Gas, the Chinese very large gas carrier.“Most of the groundwork was laid in early 2021 with an early design of an overarching integrated automation and power management system…

Ineos' new ethane carrier, said to be the world's largest and first with IMO type-B tanks, was named Pacific Ineos Belstaff at a ceremony in Houston.The 230-meter-long, 99,000-cubic-meter-capacity very large ethane carrier (VLEC) was built by China's Jiangnan Shipyard and will be operated by Pacific Gas, primarily for the transport of U.S. ethane to China and Europe. The ABS-classed ship, which is the first in the world to feature newly designed IMO type-B tanks that fit closely to the external shape of the vessel for optimized vessel capacity…

The world's first IMO Type B very large ethane carrier (VLEC), the Pacific Ineos Belstaff, has been launched at Jiangnan Shipyard in China.The first of an order of four of the largest VLECs ever commissioned, the ABS-Classed 99,000 cbm dual-fuel vessel is designed for long haul ethane transportation but can also handle other liquified gas cargoes such as liquefied petroleum gas (LPG) and ethylene.As a tradition, Jiangnan always gives a nickname to a newly developed ship. Jiangnan has assigned this novel VLEC as Bluebonnet, the state flower of Texas, the home state of ABS’ world headquarters.

Turkey-based Sanmar Shipyards delivered two line-handling pusher crafts to Scotland-based Targe Towing for operations at the Hound Point oil export terminal on the Firth of Forth.Targe has provided services for Ineos at Hound Point, Scotland’s largest oil export terminal, for almost 30 years and the main task of the new additions to its fleet will be line handling operations assisting the berthing of large crude oil tankers up to VLCC. They will also support pollution response…

Danish offshore drilling company Maersk Drilling has joined a consortium whose aim is to develop an offshore storage solution for CO2 captured in Danish onshore facilities.Maersk Drilling said Wednesday it was joining a new CO2 storage consortium formed by INEOS Oil & Gas Denmark and Wintershall Dea. "The consortium is maturing one of the most progressed carbon capture and storage projects inside Danish jurisdiction and targets the development of CO2 storage capacity offshore Denmark based on reusing discontinued offshore oil and gas fields for permanent CO2 storage…

UK-based chemicals company Ineos said Wednesday it has accepted delivery of three of four new gas barges that will be used to transport butane gas from the ARA region (Antwerp, Rotterdam, Amsterdam) to the Ineos ethylene cracker facility at Koln, Germany. In addition, they will provide INEOS Trading & Shipping with options to effectively trade butane in Europe.The new gas barges will become the largest operating on the River Rhine and are the first to be fully built to the new ADN gas barge 2019 standard.Hugh Carmichael…

The Port of Antwerp has seen significant growth for the seventh year in a row, with freight volume up 1.3% to 238 million tonnes. Although some segments are under pressure, the port says it is making progress both economically and in sustainability and mobility.Container freight, in particular, gained market share (up from 27.5% to 28.2%), while the dry bulk segment for its part saw its total volume expand by 3.4%.In breakbulk on the other hand, with steel as the main product, the consequences of turbulence in world were clearly felt, resulting in an overall contraction of 13%.In the liquid bulk segment too the volume was down, by 4.4%…

Freight rates eased further on Friday, especially for the largest oil tankers, promising some recovery for West African oil prices which had touched multi-year lows. VLCC freight costs eased more rapidly than smaller Suezmaxes, making it less advantageous to ship on the latter. Prices for Suezmaxes were estimated around world scale 190-200, with one European buyer estimating further relief to around 150 by the end of next week.Nigeria's NNPC cut its November official selling price for Bonny Light crude to dated Brent plus 58 cents per barrel and for Qua Iboe to plus 63 cents per barrel…

Danish gas ship owner Evergas announced that the worlds first Type-C 85,000m3 very large ethane carrier (VLEC) JS INEOS MARLIN was successfully delivered to INEOS Trading and Shipping.The vessel will carry ethane from US to China, said a press release from the company.The vessel has the largest Type-C tank ever made and Evergas has pushed the limit to 85000 CBM with a newly constructed Trilobe tank.The Dual-fuel Engine is over 16000 Kw from MAN Dual-fuel engines and MAN Alpha Propellers and is fueled by ethane, the vessel’s cargo.Guests at the ceremony included Godmother of the vessel Mrs. Aimee Ratcliffe, spouse of Sam Ratcliffe – INEOS and David Thompson, CEO Trading & Shipping – INEOS.

Europe’s largest petrochemicals company Ineos has chosen the Port of Antwerp as the location for a mega-investment of three billion euros ($3.4 billion).The British chemical company's investment will be the biggest in the European chemical industry in two decades.Belgium port will be the location for iIneos' project for an ethane gas cracker and world-scale PDH unit in Europe. The two new factories will employ a total of 500 people.Sir Jim Ratcliffe, CEO and Chairman of Ineos said: “Our investment in a gas cracker and world-scale PDH unit is the largest of its kind in Europe for more than a generation and is an important development for the European petrochemical industry.

UK-based offshore support firm Sentinel Marine has announced that it will create 80 new jobs by adding three multi-role ships to its fast-growing fleet.The Aberdeen-based firm is investing in the region of GBP36 million in the trio of new builds, which will come into service by the end of 2020.The offshore support vessel specialist said that the ships - Cromarty Sentinel, Trafalgar Sentinel and Viking Sentinel – are an enhanced version of the emergency response and rescue vessels (ERRV) which Sentinel Marine has introduced in the North Sea over the past four years.The ships are primarily used for the safety of offshore personnel, but their ability to perform secondary roles such as oil recovery…

With expected growth of 5.1% compared with last year, 2018 looks set to be a record year for the Port of Antwerp for the sixth time in a row."In 2019 the Port Authority will keep to the same course, further building a sustainable future for the port. In pursuit of this goal it is concentrating heavily on structural solutions to challenges such as mobility, the energy transition, digitisation and innovation," said a press release from the port authority.The expected total freight volume in 2018 comes to 235 million tonnes, a new record, with unparalleled growth in all types of cargo. The large expansion in container freight continues, reaching 130 million tonnes (up 5.8%) or 11 million TEU (up 5.5%).

Britain's richest man Jim Ratcliffe's oil and gas company Ineos Group Holdings is in exclusive talks with ConocoPhillips to buy North Sea oil and gas fields worth $3 billion from the U.S. energy company.Various news paper reports say that British petrochemicals company has confirmed it is negotiating to buy several North Sea oil fields from U.S. energy giant.The Sunday Times, which first reported the story, said that the period is said to be set to three months after the entity registered in Switzerland agreed to pay a "substantial" deposit.Accoding to the Financial Times, the potential deal, which has a price tag of more than $3 billion according to industry sources…

Throughput continues to register growth in the Port of Antwerp. After record semi-annual figures, the total throughput after nine months stands at 177,026,550 tonnes – a sharp 6% increase compared with the same period last year.A press release from the company said that with these results, the port seems to be on track for the sixth record year in a row. The recent wave of investments moreover confirms the port’s appeal and reaffirms its role as a world player.Container traffic registered robust growth yet again, up by 7.1%  (98,436,773 tonnes) compared with the first nine months of 2017. In terms of Twenty-foot Equivalent Units (TEUs)…

Belgian port Antwerp said that throughput continues to register growth in the port. After record semi-annual figures, the total throughput after nine months stands at 177,026,550 tonnes – a sharp 6% increase compared with the same period last year.With these results, the port seems to be on track for the sixth record year in a row. The recent wave of investments moreover confirms the port’s appeal and reaffirms its role as a world player.Maritime throughput continues to grow. Container traffic registered robust growth yet again, up by 7.1%  (98,436,773 tonnes) compared with the first nine months of 2017. In terms of Twenty-foot Equivalent Units (TEUs)…