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Monday, July 22, 2024

Gas Carriers News

03 Jul 2024

Keel Laid for Exmar LPG's First New LPG/Ammonia Carrier

(Photo: Exmar)

The keel has been laid for the first of six new 46,000m³ midsize liquefied petroleum gas (LPG)/ammonia carriers being built at HD Hyundai Mipo in South Korea for Exmar LPG, a joint venture between Exmar and Seapeak.The series' first newbuild is scheduled for delivery during the first quarter of next year, and the remaining vessels will be delivered through the end of 2026.The first two vessels in this series will be powered by LPG dual fuel engines, while the last four will be driven by ammonia—a world first.

28 Jun 2024

NYK and Astomos Energy Welcome Second LPG Dual-Fuel Vessel

(Credit: NYK)

NYK and Astomos Energy have named their second jointly owned large liquefied petroleum gas (LPG) carrier Gas Amethyst at the Sakaide Works of Kawasaki Heavy Industries.Following Gas Garnet vessel, which was delivered in March this year, Gas Amethyst is the second jointly owned LPG dual-fuel vessel to be delivered this year and the fourth LPG dual-fuel vessel for Astomos Energy.Gas Garnet is 229.90 meters long vessel, with a tank capacity of 86,953 m3.The vessel is equipped with a dual-fuel engine that can use heavy oil and LPG as fuel.

21 Jun 2024

Rare LNG Carrier Sails Through Red Sea Amid Houthi Attacks

© nikkytok / Adobe Stock

The first liquefied natural gas (LNG) tanker since January is sailing through the Red Sea, just days after Yemen-based Houthi militants sank their second vessel in attacks begun last November.The vessel, Asya Energy, passed Yemen, travelling through the Bab al-Mandab Strait on Tuesday, shiptracking data from LSEG and Kpler showed, the same week that the second ship believed to have been hit by the militants sank."Asya Energy is the first LNG tanker to sail through the Strait since January…

04 Jun 2024

GSI Aims to Build World’s Largest Ammonia Carrier

Nick Brown, LR CEO and Chen Ji, Chairman of GSI at the JDP ceremony during Posidonia 2024 (Photo: LR)

Guangzhou Shipyard International's (GSI) plan to build the world's largest ammonia carrier vessel has taken a step forward.The Chinese shipbuilder has signed a joint development project (JDP) agreement with classification society Lloyd’s Register (LR) for the design of very large ammonia carrier (VLAC) with a carrying capacity of 100,000 cubic meters (cbm)—larger than a series of 93,000-cbm VLACs currently being built at Hanwha Ocean's Geoje shipyard in South Korea for Greek shipping…

22 May 2024

Russia Planning New Sea Terminal for LPG Exports to Asia

© Wojciech Wrzesień / Adobe Stock

Russia will likely open its first liquefied petroleum gas (LPG) terminal on the Pacific Ocean coast with joint investments from China by the end of 2025, two industry sources said on Wednesday.Last week, Russian Direct Investment Fund (RDIF) struck an agreement with Chinese petrochemical company Haiwei to finance the marine terminal in Russia's Far East to ship LPG. It did not provide the timings for the project completion.The agreement, signed ahead of President Vladimir Putin's visit to China on May 16-17…

02 May 2024

Trafigura Orders Four Dual-Fuel Ammonia-Powered Vessels

© dechevm / Adobe Stock

Commodities trader Trafigura has placed an order to HD Hyundai Mipo Dockyard for the construction of four Medium Gas Carriers (MGC) that will be capable of using low-carbon ammonia as a propulsion fuel.The vessels will carry LPG or ammonia will be built at HD Hyundai Mipo Dockyard in Ulsan, South Korea.The first ship will be delivered in 2027. Each vessel, when delivered, will be equipped with a dual-fuel low-carbon ammonia engine, supporting Trafigura’s commitment to reduce the…

18 Apr 2024

Purus Picks Wärtsilä’s Cargo Handling and Fuel Supply Systems for Three New VLECs

(Credit: Wärtsilä)

Wärtsilä Gas Solutions, part of technology group Wärtsilä, will supply cargo handling and fuel supply systems for three new large sized ethane gas carrier (VLEC) vessels being built for Purus.The ships are under construction at the HD Hyundai Heavy Industries (HHI) yard in South Korea.In line with the Purus’ emphasis on achieving net zero carbon emissions for its fleet by 2030, the new vessels are designed to be as efficient as possible in all respects.The Wärtsilä cargo handling…

12 Apr 2024

Time Charter for Flex Endeavour Extended to 2032

Flex Endeavour (Photo: Flex LNG)

Flex LNG on Friday announce that the charterer of its liquefied natural gas (LNG) carrier Flex Endeavour has exercised an option to extend the firm period of the time charter by 500 days, from the third quarter 2030 to the first quarter of 2032. As announced on November 23, 2022, in connection with the extension of three ships, the charterer has one further option to extend the time charter period by one additional year to 2033.Øystein Kalleklev, CEO of Flex LNG Management AS…

02 Apr 2024

ECOLOG Gains 'Industry-first' Approval from ABS

© Brian Jackson / Adobe Stock

Classification society ABS announced it has awarded ECOLOG, a mid-stream Carbon Capture, Utilization and Sequestration (CCUS) service provider, with an industry first ISM Document of Compliance for the operation of liquified CO2 carriers on behalf of the Bermuda flag administration.ABS audited ECOLOG to verify compliance with the International Safety Management Code.ECOLOG plans to build and own CO2 terminals and a carrier fleet to service the emerging CCUS sector, connecting hard to abate emitters with cost competitive sequestration sites and carbon utilization facilities.“Carbon capture…

02 Apr 2024

GTT Awarded AIPs for Cargo Transfers Between VLECs

GTT, the technological expert in membrane containment systems used to transport and store liquefied gases, has obtained two new approvals in principle (AIP) from the classification societies ABS and Lloyd's Register for cargo transfer operations between very large ethane carriers (VLEC) equipped with the Mark III technology developed by GTT.These approvals confirm the relevance of GTT's containment systems on board VLECs, with tanks of up to 105,000 m3, as a safe and cost-effective solution for the transfer of liquefied ethane…

19 Mar 2024

Houthis Target Vessel in the Red Sea, Yemeni Military Source Says

© TebNad / Adobe Stock

Yemen's Houthis targeted a fuel tanker, Mado, in the Red Sea with naval missile and Israel's Eilat port and resort region with winged missiles, the group's military spokesperson Yahya Sarea said on Tuesday.Mado is a Marshall-Islands flagged liquefied petroleum gas (LPG) tanker heading to Singapore from Saudi Arabia, maritime shipping trackers showed. The Houthis described it as American, but Equasis's shipping database indicates that it is owned by Naftomar Shipping & Trading Co Ltd of Greece.

14 Mar 2024

NYK and Astomos Energy Christen New Jointly-Owned Dual-Fuel LPG Carrier

Gas Garnet vessel (Credit: NYK)

As their first jointly owned liquefied petroleum gas (LPG) carrier in 21 years, NYK and Astomos Energy have named the new vessel Gas Garnet.The companies held a naming ceremony at the Sakaide Works of Kawasaki Heavy Industries on March 1, 2024.The 86,953 m3 capacity vessel was christened Gas Garnet by Yoshihito Takahashi, senior executive officer of Astomos Energy. This is the first jointly owned LPG vessel by the companies after they shared ownership of Gas Capricorn from 2003.The vessel has a breadth of 37.2 meters…

05 Mar 2024

Predictive Tech Could Extend Tank Inspection Intervals on LNG Carriers

© Wojciech Wrzesień / Adobe Stock

Inspection intervals for liquefied natural gas (LNG) carrier membrane tanks could be safely extended thanks to monitoring technology and predictive maintenance, according to a study led by GTT Group, Lloyd’s Register and Shell International Trading and Shipping Company Limited.The International Gas Carriers (IGC) Code and IACS UR Z16 rules require LNG carrier cargo tanks to be inspected internally every five years. This joint study explored whether this interval could be extended…

08 Feb 2024

Wärtsilä Books Ammonia Fuel System Order for Two Exmar Gas Carriers

3D rendering of the Exmar LPG’s ammonia dual-fuel mid-size gas carrier (Credit: Exmar)

Wärtsilä Gas Solutions, part of technology group Wärtsilä, will deliver the fuel supply system for Exmar’s two new medium size gas carriers that will operate with ammonia fuel.The ships are being built at the Hyundai Mipo Dockyards (HMD) in Korea for ship owner Danish shipowner Exmar LPG, a joint venture between Exmar, a multi-disciplinary maritime and offshore solutions provider, and Seapeak, one of the largest independent owner-operators of liquefied natural gas vessels.These…

10 Jan 2024

Pertamina Aims to Add Six VLGCs in 2024

© faishalabdula / Adobe Stock

Pertamina International Shipping (PIS), a unit of Indonesian state energy company Pertamina, said on Wednesday it plans to add six new very large gas carriers (VLGC) in 2024 as it eyes fleet expansion focused on gas transport.The company this week launched two VLGCs, built by South Korea's Hyundai Samho Heavy Industries, and each vessel has a 91,000 cubic metres capacity, which PIS said is among the biggest in the world.The two vessels were designed to transport liquefied petroleum gas (LPG) as well as ammonia, PIS said in a statement."We plan to add six VLGCs in 2024, starting from the two VL

19 Dec 2023

Some LNG Carriers Avoiding the Red Sea as Attacks Increase

© Wojciech Wrzesień / Adobe Stock

Several liquefied natural gas (LNG) vessels have changed their courses in recent days to avoid the Red Sea region amid maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.The Red Sea is linked to the Mediterranean by the Suez Canal, creating the shortest shipping route between Europe and Asia, and is connected to the Gulf of Aden by the Bab-el-Mandeb strait between Yemen and Djibouti. About 12% of world shipping traffic transits the canal.But attacks in recent days on ships along the route have led companies such as oil major BP…

19 Dec 2023

Exmar Announces Leadership Change

Carl-Antoine Saverys will take over as CEO of Exmar from January 1, 2024 (Photo: Exmar)

Carl-Antoine Saverys has been named CEO of listed Belgian shipowner Exmar, the company announced Tuesday. Effective January 1, 2024, he will take over from Francis Mottrie who will stay on board as COO.After assuming various roles in the shipping industry, Carl-Antoine Saverys has held deputy roles within Exmar over the past six years, including the company’s infrastructure department and thereafter at the shipping department.Joining him at the executive top level are newly appointed CFO…

08 Dec 2023

US LNG Exports Through Panama Canal Shrink, Asia-Europe Spreads Widen

© Mariusz / Adobe Stock

The number of U.S. liquefied natural gas (LNG) vessels transiting the Panama Canal to Asia halved in November compared with a year ago as Asia prices for the gas this week traded at their steepest premium to European prices in nearly two years.A severe drought has cut vessel traffic through the canal, increasing costs for shippers that take alternative routes or pay extra fees for auctioned slots in Panama. Further restrictions on canal transits likely will put more cargoes on lengthier routes…

08 Dec 2023

Jonathan Quinn Named Managing Director of Avenir LNG

(Photo: Avenir)

Avenir announced Jonathan Quinn has been appointed to the role of Managing Director of Avenir LNG.Quinn was one of the founding management team members of Avenir when the company established in 2018, and in his previous role as Commercial Director has been responsible for our group commercial strategy and business development.Quinn has over 10 years experience in midstream infrastructure, shipping and trading and previously held business development and corporate strategy roles at Stolt-Nielsen Limited, prior to the establishment of Avenir.

07 Dec 2023

GTT Enters Strategic Cooperation Agreement with CSSC

(Photo: GTT)

French engineering firm GTT announced it has signed a strategic cooperation agreement with Chinese shipbuilding group China State Shipbuilding Corporation Limited (CSSC).The agreement provides for cooperation between GTT and 12 subsidiaries of the CSSC conglomerate, notably in ship design and construction, cryogenic containment technologies for liquefied natural gas (LNG) shipping, LNG as fuel and smart shipping solutions.As part of this agreement, GTT and CSSC aim to develop and market competitive LNG tank solutions with GTT technologies…

04 Dec 2023

Maersk Tankers, Mitsui Order Up to 10 Very Large Ammonia Carriers

(Photo: Maersk Tankers)

Maersk Tankers confirmed an order for up to 10 very large ammonia carriers (VLAC) has been placed with Hyundai Samho Heavy Industries in Korea. Mitsui & Co., Ltd. will join as a co-investor in the first four vessels. The vessels will be operated by Maersk Tankers.The 93,000 cbm newbuilds will be among the largest ammonia carriers in operation, capable of carrying a full cargo of ammonia. The first four firm VLACs are due to be delivered from late 2026 onwards, and the contract…

01 Dec 2023

Hahn & Co weighs sale of South Korea's SK Shipping

(File photo: SK Shipping Co)

South Korean private equity firm Hahn & Co is reviewing strategic options for its majority stake in SK Shipping Co, including a sale that could value the company at about $10 billion including debt, Bloomberg News reported on Thursday.Hahn & Co is working with financial advisers as it weighs a partial or full sale of its stake, the report said, citing people familiar with the matter, adding that it was considering other options like selling individual divisions of the Seoul-based shipping company.SK Shipping did not immediately respond to a Reuters request for comment, while Hahn & Co could no

23 Nov 2023

Hanwha Ocean Lands $500M Deal to Build Four Very Large Ammonia Carriers

A rendering of Hanwha Ocean’s very large ammonia carrier (VLAC) - Credit: Hanwha Ocean

Hanwha Ocean has secured an order worth approximately $500 million to construct four very large ammonia carriers (VLACs) for Greek shipping company Naftomar Shipping and Trading Co. Ltd. Inc (Naftomar). Each VLAC will be able to transport 93,000 cubic meters (cbm) of ammonia, a carbon-free fuel, making them the largest vessel of their class in the world, Hanwha Ocean. The vessels will be built at Hanwha’s Geoje shipyard and delivered to the shipowner starting in 2026.The VLACs will be outfitted with Hanwha Ocean’s latest technologies…