Russia's Arctic LNG 2 Last Line is on Hold
The third and the last train of the Arctic LNG 2 project in Russia has been put on hold but the second train is likely to be installed, the head of stakeholder TotalEnergies' said.The liquefied natural gas (LNG) project in the Russian Arctic has faced challenges from U.S. sanctions imposed on the project last November over the conflict in Ukraine, and subsequent force majeures by shareholders.At the end of 2023 Arctic LNG 2 started tentative production at its first train, which is yet to deliver a first cargo.
Foreign Shareholders Suspend Participation in Russia's Arctic LNG 2 Project
Foreign shareholders suspended participation in the Arctic LNG 2 project due to sanctions, renouncing their responsibilities for financing and for offtake contracts for the new Russian liquefied natural gas (LNG) plant, the daily Kommersant reported on Monday.The project, seen as a key element in Russia's drive to boost its LNG global market share to 20% by 2030 from 8%, was already facing difficulties due to U.S. sanctions over the conflict in Ukraine and a lack of gas carriers.China's state oil majors CNOOC and China National Petroleum Corp (CNPC) each have a 10% stake in the projectā¦
CSL, Algoma Order Four Self-unloading Bulkers
The CSL Group and Algoma Central Corporation Order a New Generation of Kamsarmax-Based Ocean Belt Self-Unloading ShipsThe CSL Group and Algoma Central Corporation, who together form the CSL International Pool, on Friday announced a newbuild order with Jiangsu Yangzi-Mitsui Shipbuilding Co., Ltd., to construct four new methanol-ready Kamsarmax-based ocean belt self-unloading vessels. These new ships will replace the poolās oldest vessels and become the model for its next generation of ocean self-unloaders.Two of the four jointly designedā¦
ABS Names Lennon VP for Offshore Wind
ABS has appointed Greg Lennon Vice President of Global Offshore Wind.āGreg is a leader who will build on the numerous successes of our offshore wind team and accelerate our continued support of the burgeoning industry here in the U.S. and globally. He will position us to be ready and able to support the Presidentās ambition to install 30GWs of offshore wind by 2030 and to work with our global partners to deliver over 150GWs targeted for 2030 around the world,ā said Peter Fitzpatrickā¦
GAIL Scraps $7-bn LNG Tender
Indian state-owned energy firm GAIL India Ltd has scrapped a USD 7 billion tender for hiring newly built ships to ferry LNG from US after bidders did not agree to 'Make-in-India' terms, says a report by PTI. Gail will now hire the ships from the global spot or current market to transport LNG. Gail, which was forced by the oil ministry to add the āMake-in-Indiaā condition to its tender, will now hire the ships from the global spot or current market to transport LNG, a senior official with knowledge of the matter said. Two Japanese biddersāa consortium of Mitsui OSK Lines (MOL)-Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui and Co.
MHI, Hakata Collaborate for Container Carrier Development
Mitsubishi Heavy Industries, Ltd. (MHI) and Hakata Shipbuilding Co., Ltd., of Imabari, Ehime Prefecture, have agreed to collaborate in the joint development of a 1,000 TEU (twenty-foot equivalent unit) container carrier. The two companies have received the first order for the carrier, for two vessels to be used for time chartering by Korea Marine Transport Co., Ltd. (KMTC) of Korea. Going forward the two companies intend to establish a framework advantageous for competing in the international feeder container ship market as a way of expanding their businesses. Under the collaborative agreement, MHI will be responsible for hull form development and conceptual design of the container carrierā¦
ABS Adds to Membership
At the recent ABS Council meeting in N.Y., 40 prominent members of the shipping and offshore industries were elected as new members of the international classification society. The ABS Council also elected two new members to the societyās Technical Committee. āABS governance is vested in a membership comprised of distinguished individuals drawn from the international shipping, shipbuilding and offshore industries, from academia, the insurance sector and other related disciplines,ā said ABS Chairman and CEO Robert D. Somerville. Akimitsu Ashida, President, Mitsui O.S.K. Lines, Ltd. Noel L. Captain Ali M. Belhag, Chairman, GNMTC ā General National Maritime Transport Co. Joseph L. Takatoshi Funada, President, Funada Kaiun Co., Ltd. Kevin M.
MAN Diesel Renews Low-Speed Cooperations
MAN Diesel has renewed its low-speed license agreements with its Chinese partners. Furthermore the company, which forms the Diesel engine division of the MAN Group, signed a license agreement for a ten year period with the newly established joint venture CSSC-Mitsui Diesel Co, Ltd, known as CMD. The joint venture is owned by the largest Chinese and Japanese low-speed engine builders, Hudong and Mitsui, with the additional participation of CSSC. The renewal of the CSIC/CSOC ā MAN Diesel licence agreement with the engine builders Dalian Marine Diesel and Yichang Marine Diesel took place in Beijing, while the licence agreement with CSSC/CSTC and the engine builders Hudong Heavy Machinery and CSSC-Mitsui (CMD) was signed in Shanghai. The Chairman of MAN Dieselās Executive Board, Dr.
