Avenir LNG Orders Two LNG Bunker and Supply Vessels from Chinese Shipyard
UK-based small-scale liquefied natural gas (LNG) supplier Avenir LNG has entered into a shipbuilding contract with Nantong CIMC Sinopacific Offshore & Engineering in China, a subsidiary of CIMC Enric, for two new LNG bunker and supply vessels.The two 20,000 cbm LNG bunker and supply vessels are scheduled to be delivered in the fourth quarter of 2026 and the first quarter of 2027.The newbuildings will feature new Type C tank designs, lower boil off rates, the latest engine technologies…
Maersk Lines Up More Green Methanol Fuel Supply in the US
Danish shipping giant A.P. Moller - Maersk announced it is partnering with U.S.-based SunGas Renewables to secure a supply of green methanol to fuel its next generation of cleaner burning containerships.Under a recently signed letter of intent (LOI), SunGas Renewables, a spin-out of GTI Energy, will produce green methanol from multiple facilities that it will develop in the U.S. from which Maersk intends to offtake methanol. Slated to begin operations in 2026, the first facility is expected to produce approximately 390…
Maersk Inks Green Methanol Supply Deal with US-based Carbon Sink
Danish shipping giant A.P. Moller - Maersk announced it is partnering with U.S.-based Carbon Sink to secure a supply of green methanol for its next generation of cleaner burning containerships.Under a recently signed letter of intent (LOI), Carbon Sink will develop green methanol production facilities in the United States. The first facility will be co-located with the Red River Energy existing bioethanol plant in Rosholt, S.D. and will have a production capacity of approximately 100,000 tonnes per year from 2027.
LNG Storage Tank Market to Reach $17.5Bn by 2025
LNG storage tank market is expected to grow from USD 12.5 billion in 2020 to USD 17.5 billion by 2025, at a CAGR of 7.0%, during the forecast period.The major factors driving the LNG storage tank market include increasing demand for LNG from various end-use industries, such as steel, power, and energy. Furthermore, the growing trade of LNG will also drive the demand, said a report by MarketsandMarkets.APAC is projected to be the leading LNG Storage Tank Market during the forecast period. The growth in the APAC region can be attributed to the rising demand for LNG from various end-use industries including energy, power and steel.The presence of a robust industrial base…
CIMC Shelves Sinopacific Acquisition
CIMC Enric, an affiliate company of China International Marine Containers (CIMC), has announced that it has terminated the acquisitions of Sinopacific Offshore & Engineering (SOE), the offshore unit of Sinopacific Shipbuilding. CIMC Enric said the Board decided not to proceed with the proposed acquisition of the entire equity interest of SinoPacific Offshore & Engineering Co., Ltd. as certain conditions precedent have not been fulfilled or waived. Last year, CIMC has struck a deal with Evergreen Holding and its subsidiaries to acquire Nantong SOE for at least CNY700 million (USD109 million) in cash and shares. In the meantime, the Board is considering various alternatives in protecting the rights and values of the Group's interests in the target company…
Evergas Acquires 4th multigas LNG vessel
Evergas’ latest addition to its fleet, the 4 th ‘dragon class’ 27.500 cbm multigas LNG carrier in a series of eight was successfully named today the 28th of January, at a ceremony at the Sinopacific Offshore & Engineering (SOE) shipyard in Qidong, China. The state-of-the-art carrier was named JS INEOS INSPIRATION. The vessel bear a distinct dragon symbolizing its Chinese and Western heritage. The dragon chosen to sail and protect JS INEOS INSPIRATION is the King of Earth, reflecting patience, thoughtfulness and stability for the future ahead. The ‘Dragon’ class vessels are the largest, most flexible and advanced multigas carriers built to date.
Wärtsilä's Propulsion For First CNG Carrier
The world's first ever carrier vessel for compressed natural gas (CNG) is to be powered by an integrated Wärtsilä propulsion system, chosen for its energy efficiency and environmental sustainability. The vessel is being built at the Jiangsu Hantong shipyard in China ordered by CIMC ENRIC and designed by CIMC ORIC for end user Perusahaan Listrik Negara (PLN), the Indonesian state owned energy company. The order with Wärtsilä was placed during the fourth quarter, 2014. The new vessel will feature a 9-cylinder Wärtsilä 34DF dual-fuel main engine operating primarily on gas. Wärtsilä will also supply the controlled pitch propeller and gearbox, all of which will be fully integrated so as to optimise the propulsion efficiency.
