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Sumitomo Corp News

17 Jan 2024

US Lists Houthis as Terrorists, Business Fears Lengthy Red Sea Disruption

© aerial-drone / Adobe Stock

The United States on Wednesday returned the Yemen-based Houthi rebels to a list of terrorist groups, while business chiefs warned that disruption to shipping in the Red Sea caused by their attacks could affect supply chains for months.Attacks by the Iran-allied Houthi militia on ships in the region since November have slowed trade between Asia and Europe and alarmed major powers - an escalation of Israel's more than three-month-old war with Palestinian Hamas militants in Gaza.The Houthis say they are acting in solidarity with Palestinians and have threatened to expand attacks to include U.S.

13 Dec 2023

Three Winners for Japan's 2nd Offshore Wind Power Tender

Copyright pixardi/AdobeStock

Japan's industry and land ministries on Wednesday picked three consortia, including one featuring Germany's RWE and its partners, to operate offshore wind farms in the second round of a public auction. They said they would award a fourth wind farm that was part of the tender at a later date.The results of the second major round under a new law to promote wind power were closely watched by energy companies at home and abroad, after the first round was dominated by Mitsubishi Corp.Japan's…

20 Jan 2022

Suiso Frontier: World's First Hydrogen Tanker to Ship Test Cargo from Australia to Japan

The Suiso Frontier. Photo courtesy of HySTRA (File photo)

Japanese-Australian venture producing hydrogen from brown coal is set to ship its maiden cargo on the world's first liquid hydrogen carrier from near Melbourne to Kobe on Friday, in a test delayed by nearly a year because of the COVID-19 pandemic.The Suiso Frontier, built by Japan's Kawasaki Heavy Industries (KHI), arrived on Friday from Kobe, in southern Japan, following a longer trip than the expected 16 days as the owners sought to avoid bad weather and rough seas, said a spokesperson for the venture…

24 Dec 2021

Video: World's First Hydrogen Carrier Suiso Frontier Departs Japan for Australia

(Photo: Kawasaki Heavy Industries)

The world's first liquefied hydrogen carrier left Japan on Friday to pick up its first cargo in Australia, with a return to Japan expected around late February, Kawasaki Heavy Industries Ltd said.The A$500 million ($362 million) pilot project, led by Japan's Kawasaki and backed by the Japanese and Australian governments, was originally scheduled to ship its first cargo of hydrogen extracted from brown coal in Australia in the spring.But it was delayed to the second half of Kawasaki's financial year, which runs from October to March, due to the COVID-19 pandemic."It depends on the weather, but

03 Dec 2021

World's First Liquefied Hydrogen Carrier May Leave Japan this Month

The world's first liquefied hydrogen carrier could leave Japan for Australia to pick up its first cargo of hydrogen late this month though the return date has yet to be set due to COVID-19, Japan's Kawasaki Heavy Industries Ltd said on Friday.The A$500 million ($353 million) pilot project, led by Kawasaki and backed by the Japanese and Australian governments, was originally scheduled to ship its first cargo of hydrogen extracted from brown coal in Australia in spring.

15 Sep 2021

Maryland Cove Point LNG Export Plant to Start Work Next Week

(Acroterion / CC BY-SA 3.0)

Berkshire Hathaway Energy's Cove Point liquefied natural gas (LNG) export plant in Maryland will shut for about three weeks of maintenance starting around Sept. 20, according to pipeline data and analysts.Officials at Berkshire Hathaway Energy on Wednesday confirmed the pipeline and compressor station maintenance will start on Sept. 20 but would not confirm the shutdown of the liquefaction plant until about the day before an outage.Traders noted the reduction in gas flows to LNG export plants should weigh on U.S.

07 May 2020

Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts

Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide have ground to a halt as virus containment measures have taken their toll, slashing gas demand for power generation, heating, cooking, vehicles and chemical manufacture. The world's biggest LNG markets - Japan, China, South Korea, and India - are all seeing a drop in demand. Asia's spot LNG prices dropped to $1.85 per million British thermal units (mmBtu) last week, the lowest ever, as cargoes have flooded the market. "At prices in the $2/mmBtu range ... some producers are getting close to not recovering cash costs of their operations.

16 Apr 2018

First Cove Point LNG Lifting Departs Maryland

The first contractual liquefied natural gas (LNG) cargo from Dominion Energy Inc's newly constructed Cove Point LNG export plant in Maryland in the United States left the facility on Monday, Thomson Reuters Eikon ship tracking data showed. The cargo is expected to act as a drag on spot LNG prices <LNG-AS> as it coincides with the resumption of exports of the fuel from the Papua New Guinea LNG plant, which had been shut following a powerful earthquake. The 160,000-cubic metre LNG tanker Adam LNG left Cove Point on Monday with a draft of 91 percent, suggesting it was full, according to the data. Its destination was not immediately clear. The facility has exported two commissioning or test cargoes already, which were sold to Royal Dutch Shell.

02 Mar 2018

First LNG Export Cargo Departs Cove Point LNG

The Gemmata liquefied natural gas tanker left Dominion Energy Inc's Cove Point LNG export facility in Maryland early Friday, likely carrying the first export cargo from the facility that was expected to enter service in March, according to Reuters shipping data and energy traders. Officials at Dominion were not immediately available for comment. When the Gemmata docked at Cove Point earlier this week, analysts said it would likely be the first vessel to pick up fuel from the facility since the tanker came from Spain - a non-LNG exporting country - with less than a full cargo. Dominion has spent about $4 billion to add export facilities at Cove Point, long an LNG import terminal on the Chesapeake Bay.

26 Feb 2018

EU Mergers and Acquisitions

© mybaitshop/Adobe Stock

The following are mergers under review by the European Commission that could be of interest to the global maritime and energy communities. -- Austrian company Borealis, Canada's Nova Chemicals and French oil and gas major Total to set up a joint venture (notified Feb. -- British turnaround specialist Melrose Industries to acquire British engineering company GKN (notified Feb. -- German steel company ELG Haniel and and Spanish peer Iberinox 88 SA to set up a joint venture (notified Feb.

26 Feb 2018

Vessel Docks at Maryland Cove Point LNG Terminal

Gemmata could be the first vessel to pick up fuel from the facility since the tanker came from Spain - a non-LNG exporting country - with less than a full cargo, according to the shipping data. In addition to Gemmata, another vessel, the Methane Spirit, is also headed for Cove Point, according to the shipping data. Methane Spirit is located near Singapore and is expected to reach Cove Point around March 31. Once it enters service, Cove Point will be the second big LNG export terminal in the lower 48 U.S. Cove Point is designed to liquefy about 0.75 billion cubic feet per day (bcfd) of gas. One bcfd can power about 5 million homes. In December, Dominion said Royal Dutch Shell Plc would take the initial LNG cargoes from Cove Point.

15 Feb 2018

Cove Point LNG Terminal's First Export Imminent

Methane Spirit, a liquefied natural gas tanker, said on Thursday it would arrive at Dominion Energy Inc's Cove Point LNG export facility in Maryland around March 31, according to Reuters shipping data. If correct, that could be the first vessel to pick up a cargo from the LNG facility, which Virginia-based Dominion said it expects to enter service in March. Dominion said it planned to spend $4 billion to add export facilities at Cove Point, long an LNG import terminal on the Chesapeake Bay. The Methane Spirit is currently off the coast of Japan where it was expected to drop off a cargo from Australia, according to the shipping data. Once it enters service, Cove Point will be the second big LNG export terminal in the lower 48 U.S.

06 Apr 2016

Bulkers Squeezed Out

Source: VesselsValue.com

Behind the news of the multiple VLOCs being ordered to service the Brazil-China iron ore trade lies the reality that just two non-VLOC bulker contracts were placed in the first quarter of 2016, says Craig Jallal, VesselsValue's Senior Data Editor. The two non-VLOC orders of Q1 2016, which came from U-Ming Marine Transport, who signed a contract with Sumitomo Corp. and Oshima shipbuilding on February 15 for two 81,500 DWT Panamax bulkers, represent a stark contrast to the 78 non-VLOCs ordered one year ago in Q1 2015.

08 Jan 2014

Taiwan's Evergreen Plans Mega-Containership Fleet Upgrade

Evergreen Line vessel: Photo courtesy Evergreen Lines

Evergreen Marine Corp, Taiwan's largest container shipping company, plans to charter seven new vessels with capacity of 14,000 twenty-foot equivalent units (TEU) to upgrade its fleet at lower unit costs, while disposing of smaller and older vessels, reports the Taipei Times, . The seven vessels — owned by Sumitomo Corp, a leading integrated trading company in Japan — are scheduled to be delivered to Evergreen in 2016 and 2017, with a 10-year term of tenancy. Evergreen launched a plan last year to introduce more large vessels…

31 Jul 2013

Offshore Wind Sees New Capital Investments

stock photo

With the support of technical due diligence advice from GL Garrad Hassan, Sumitomo Corporation and its subsidiary Sumitomo Corporation Europe last week agreed to invest significant amount of equity in two Belgian offshore projects. The Belwind 1 operational wind farm and Northwind project together account for 127 wind turbines and 381 MW of generating capacity with total project cost of about €1,550 million. The investment by Sumitomo is further evidence that offshore wind is attracting new sources of equity capital. Sumitomo agreed to take 39% of Belwind 1 and 33% of Northwind.

20 Feb 2011

KPI Bridge Oil Appoints New Bunker Broker & Trader

Photo courtesy KPI Bridge Oil Group

KPI Bridge Oil appointed Nick Fuca as Bunker Broker and Trader in its New York office. Fuca has been part of the bunker industry for 27. He started out in 1984 when he joined Sumitomo Corp of America. In 1989 he joined Asamar, Inc/Fratelli Cosulich where he spent the next 22 years of his career.