Liquid Petroleum Gas News

Lloyd’s Register (LR) and the Liberian International Ship & Corporate Registry (LISCR) have awarded design approval to HD Korea Shipbuilding & Offshore Engineering (HD KSOE) and Hyundai Mipo Dockyard (HMD) for the development of the world’s first 22,000cbm multi-gas carrier as part of a joint development project for LCO2 carrier design and development. The vessel will be capable of carrying liquified carbon dioxide (LCO2), liquid petroleum gas (LPG), ammonia (NH3) and vinyl chloride…

Finnish tech company Wärtsilä said it has won a contract to equip six new 93,000 cubic meter capacity liquid petroleum gas (LPG) carriers being built at the Jiangnan Shipyard in China for Singapore-based Petredec. The order with Wärtsilä was placed in March 2021.The newbuilds, to be among the largest of their type ever built, will be fitted with Wärtsilä’s cargo handling system and LPG fuel supply system (LFSS). The onboard Wärtsilä solutions will be supported with the company’s…

A liquefied petroleum gas (LPG) carrier struck a Washington State wharf in 2019 because the pilot approached with excessive speed and at too steep an angle, resulting from poor bridge resource management by the Puget Sound pilot and the ship’s bridge team, the National Transportation Safety Board said Thursday.The 741.5-foot partially loaded tanker Levant struck the Petrogas Ferndale Wharf in Puget Sound, near Ferndale, Wash., on December 15, 2019, causing more than $6.75 million in damage to the wharf and $1.5 million in damage to the vessel. The wharf’s south mooring dolphin, and the catwalk connecting it to the wharf, were destroyed and the Levant’s forward ballast tank was penetrated and flooded.

As marine operators and euipment manufacturers continue to explore alternative marine fuels as a means to help lower vessel emissions, technology group Wärtsilä said it has initiated combustion trials using ammonia.As part of the tests, ammonia was injected into a combustion research unit to better understand its properties. Based on initial results, the tests will be continued on both dual-fuel and spark-ignited gas engines. These will be followed by field tests in collaboration with ship owners from 2022…

Ship owners increasingly face complex investment decisions as they try to navigate the most efficient course to the low-carbon future. Ever since the IMO set the industry’s ambitious emission-reduction targets for 2030 and 2050, owners have been inundated with information about future fuels and technologies that may, or may not, ultimately lower the carbon footprints of their fleet.Some of the new technologies hold promise, but the day-to-day viability of too many of them remains unproven; the same can be said for many of the potential fuels.

Epic Gas, the liquid petroleum gas (LPG) shipping solutions company, announced that it has completed the acquisition of two of the four ships that it previously referenced in April 2019.The vessels, the Kahyasi and Kris Kin, , are all modern second-hand 11,000cbm Japanese-built pressurised LPG carriers that were built in 2015.The remaining ships, the Kingcraft and Kisber, also both 11,000cbm Japanese-built pressurized LPG carriers built in 2015, are due to complete in July and August.Two of the four vessels immediately enter a two-year time charter with a leading LPG commodity trading and shipping company, said a press release from the Oslo-listed company.The four vessels will sit alongside six sister vessels already in the Company fleet…

The Very Large Gas Carrier (VLGC) freight rates started to recover towards the end of the first quarter as U.S. consumption reverted to seasonally lower levels pushing U.S. LPG prices down, widening the geographical LPG price arbitrage between the U.S. and the Far East.According to BW LPG, the owner and operator of liquid petroleum gas (LPG) vessels,  the recovery in VLGC freight rates was further strengthened by two occasions of fog and a temporary closure of the Houston Ship Channel due to fire and chemical spills.For 2019 we are optimistic that average VLGC rates will improve from the 2018 average of US$17,300 per day to a level above our cash break-even levels.

The Houston Ship Channel reopened on Wednesday to two-way traffic after salvage crews removed two gasoline barges damaged in a weekend collision with a deep-draft vessel, officials said.About 11,280 barrels of gasoline spilled into the channel near Bayport, Texas, after a 755-foot (230-metre) tanker collided over the weekend with a Kirby Inland Marine tugboat towing two barges containing the fuel.The removal of the Kirby Corp-operated barges was completed by midday on Wednesday and two-way traffic resumed, according to Bayport Channel Collision Response, a group overseeing cleanup and salvage operations.Officials decided on Wednesday to tow away a capsized barge instead of draining its tanks of fuel, speeding up the reopening by at least two days.A U.S.

South Korea’s liquid petroleum gas (LPG) imports are expected to increase 9.5% in 2019 on account of the growth is due to stronger demand from the petrochemical sector.The recent policy change that will allow LPG-fueled vehicles in the private sector is another booster, said Drewry.South Korea’s LPG market was starting to look saturated with low demand, but as the government is reconsidering cleaner fuels, its demand is likely to shoot up.Drewry said that severe air pollution in the country caused mainly by vehicular emissions has forced the government to rethink its earlier strategy.Until February 2019 only commercial vehicles such as taxis, rental cars, vans and small buses in the country were allowed to use LPG as auto fuel.

The world’s biggest operator of liquid petroleum gas ships BW Group has purchased majority stake of Epic Gas and is looking to buy the remaining shares completing the takeover.BW, based in Norway and Singapore, is making the move after acquiring a 54.7% stake from existing owners, said a press release.With the acquisition of the majority stake BW has launched an unconditional tender for all the remaining shares in Epic Gas at a price of $1.60 per share, plus an additional $3.5m divided across all the shares acquired in the offer, to a maximum of $0.10 per share.Epic Gas is the largest commercial operator and second largest owner of small pressurized LPG carriers.

Baltic and International Maritime Council (BIMCO) will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.A press release from the largest of the international shipping associations representing shipowners said that it is planning to develop the new contracts in Asia in an effort to further increase the involvement of its Asian members. Both projects will be developed mainly by experts from the region and managed by BIMCO’s Shanghai office, assisted by head office staff in Copenhagen.“An alternative fuels contract and a voyage charter for LPG are two key projects which have global resonance…

The SMM 2018 scheduled to take place September 4-7, 2018, in Hamburg, Germany, is held every two years and is the traditional launching platform for a variety of commercial shipping and shipbuilding technologies. Five new marine technologies to look for in Hamburg include:Dredging TechCompany: HydrexBooth: B7.505Product: Dredging innovationHydrex will unveil a new concept developed to protect the marine environment from the spread of contaminated sediments during dredging operations.

Norway's BW LPG, the world's largest liquid petroleum gas shipper, raised its offer to buy rival Dorian LPG on Monday after its first advance was rebuffed.BW offered Dorian shareholders 2.12 BW LPG shares for each Dorian share, up from 2.05 BW LPG shares in an initial offer made on May 29.BW LPG said the offer represents a value of $8.67 per Dorian share.

Dorian LPG announced that its Board of Directors has unanimously declined an unsolicited, conditional proposal from Norway's BW LPG, the world's largest liquid petroleum gas shipper, to combine with Dorian in a stock-for-stock transaction. After a thorough review, conducted in consultation with its financial and legal advisors, the Board of Directors unanimously concluded that the proposal is not in the best interests of Dorian and its shareholders., said a press release from the company. Last month, BW LPG offered to buy competitor Dorian LPG in a $1.1 billion all-stock deal in an effort to boost its earnings in a weak market. The statement said that BW LPG's indication of interest fails to recognize the value of Dorian's 19 ECO-ships, comprising 86% of Dorian's fleet of 22 ships.

The world's largest liquid petroleum gas (LPG) shipper, Norway's BW LPG, is offering to buy competitor Dorian LPG in a $1.1 billion all-stock deal in an effort to boost its earnings in a weak market, it said in a statement on Tuesday.Dorian shareholders will receive 2.05 BW LPG shares for each Dorian share, equal to $7.86 per share, a premium of 13 percent from Friday's closing price, and based on BW LPG's share price on May 28.New York-listed Dorian LPG's equity is valued at about $441 million and including debt the transaction is valued at $1.1 billion.The deal is backed by shipping conglome

Modifications to the Panama Canal tolls structure have been approved by the Cabinet Council of the Republic of Panama. After a thorough analysis of the current utilization and productivity of the Neopanamax Locks, and after meetings with Panama Canal executives, customers and industry representatives in Europe, Asia and North America, the proposed tolls modifications were officially announced on June 1, 2017. This was followed by a formal consultation period to ensure all interested parties could provide feedback for consideration.

The owner of a fishing vessel has been sentenced to 15 months in prison after pleading guilty to two charges brought by the Maritime & Coastguard Agency (MCA) for the unsafe operation of a fishing vessel and failing to ensure that the gas cooker was properly maintained. Timothy Bowman-Davies from Milford Haven was sentenced to 15 months imprisonment at Leeds Crown Court on August 2, after two crew members on board his fishing vessel Eshcol died from carbon monoxide poisoning in 2014.

The Panama Canal Authority (ACP) today held a public hearing on its tolls structure modifications proposal. “The modified tolls will safeguard the Canal's competitiveness, charge a fair price for the value of the route and provide a competitive service to the global shipping industry,” said Panama Canal Administrator, Jorge L. Quijano. The hearing follows the conclusion of a 32-day formal consultation period for industry feedback. All comments received both in writing and at the hearing will now be evaluated and analyzed by the Board of Directors…

The Baltic Exchange is looking into launching freight indexes for grains and liquefied natural gas (LNG) as the London-run business targets new markets after its acquisition by Singapore Exchange last year, the Baltic's chief executive said. Founded in 1744 as a forum for chartering vessels, the Baltic Exchange now produces benchmark indexes for global shipping rates and owns a trading platform for the multi-billion dollar freight derivatives market. SGX's ownership of the Baltic has enabled the exchange to set its sights on developing new areas…

Less than nine months after the historic inauguration of the Expanded Canal, the Panama Canal has announced that it has welcomed its 1,000th Neopanamax vessel through the waterway, highlighting the importance of the route and customers’ continued faith in the safe, reliable and efficient service the Canal provides. On Sunday, March 19, the containership Mediterranean Shipping Company's MSC Anzu made the historic 1,000th transit through the Expanded Canal, heading northbound from the Atlantic to the Pacific Ocean.

Laugfs Maritime Services, the shipping division of Sri Lanka’s Laugfs Gas,  has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for USD 2.875 million, reports  Lanka Business Online quoting company sources. The 1998-built 3,500-cbm Lady Martine was bought from Ultragas at a price of $2.875m and will be renamed Gas Courage. It will be reflagged to Sri Lanka. Laugfs Maritime Services private limited operates with Board of Investments of Sri Lanka approval to carry out a business of sea cargo operation services. The new vessel will join the company’s two other LPG carriers, Gas Challenger and Gas Success. Laugfs Maritime Services purchased its second Liquid Petroleum gas carrier vessel "Gas Dorado" with a total investment of US$ 6.0 million in October 2015.

Less than six months after the inauguration of the Expanded Panama Canal, the waterway welcomed its 500th transit of a Neopanamax ship on Wednesday, highlighting the trust that Canal customers have placed in the route. Performing the 500th transit was the container vessel YM Unity, which first began its passage through the Cocoli Locks in the Pacific and then headed north towards the Agua Clara Locks. Built in 2006, the YM Unity (of the Yang Ming Marine Transport Corporation) measures 335.7 meters in length and 42.8 meters in beam and has a carrying capacity of 8,200 TEUs. The ship is traveling from Asia and will stop at Colon Container Terminal in Panama before heading to U.S. ports.

The Port of Ngqura is poised to play a vital role in ensuring the security of South Africa’s fuel supply, while creating a new petroleum trading hub for Southern Africa in anticipation of the relocation of existing liquid bulk facilities from Port Elizabeth. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Oiltanking Grindrod Calulo (Pty) Ltd (OTGC)to plan, fund, construct, own, maintain and operate a new liquid bulk handling facility at the Port of Ngqura. The project is one of the Section 56 initiatives that TNPA has identified to encourage private sector participation as a key element…