Epic Gas Buys 11,000 CBM Vessel
Epic Gas Shipping Company, which owns and operates a fleet of fully pressurized gas carriers, has announced the acquisition of 2015-built 11,000 cbm LPG carrier Epic Sicily.The Singapore-based LPG carrier operator said that the vessel, Epic Sicily, is built by the Sasaki Shipbuilding Co. Ltd. of Japan in 2015.The vessel has been on bareboat charter-in since Feb 2015 and Epic Gas is now exercising the purchase option under the charter contract. Finance of 60% of the acquisition cost comes from Epic Gas’s recently closed refinancing…
Babcock Wins Multiple Orders
UK-based engineering services company Babcock said that its liquefied gas equipment (LGE) arm has netted 26 orders in the LNG and liquefied petroleum gas (LPG) carrier markets so far this year.Having won 16 contracts in the LPG carrier market, plus a further 10 ecoSMRT contracts for LNG carriers so far in 2019, the company continues to thrive in challenging market conditions.Now contracted to deliver LPG Fuel Gas Supply System (ecoFGSS) on six LPG carriers in a range of sizes, including the world’s first new-build system, Babcock’s LGE business dominates the sector whilst maintaining LPG and L
Asian LPG Market to Cross $109Bln by 2024
The Asian liquefied petroleum gas (LPG) market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, as increasing demand for LPG as a fuel for power generation in remote and off-grid locations in comparison to its less environment-friendly alternatives like coal, diesel and fuel oil.Increasing demand for LPG used to run vehicles (Autogas) is being witnessed as it is a comparatively cheaper automotive fuel and can be used in vast applications related to transportation…
ExxonMobil Talks With Teekay Ahead of IMO 2020
The International Maritime Organization (IMO) has mandated a global 0.50% cap on the maximum level of sulphur in marine fuel. This new cap represents a significant reduction – down from the current 3.50% limit – and presents the marine industry with compliance challenges.Starting from January 1, 2020, vessel operators will need to use a compliant fuel, or have a scrubber fitted if they wish to continue burning high-sulphur fuel oil. This ruling does not affect Emission Control Areas (ECAs), where a 0.10% sulphur fuel is still required.ExxonMobil anticipates that the vast majority of the industry will choose a low-sulphur fuel to meet the new IMO 2020 cap. However, there is no single route to compliance.
VLGC for Astomos Energy Named
A naming ceremony was held in Kumamoto Prefecture at the Ariake Shipyard of Japan Marine United Corporation for a new VLGC (very large gas carrier) that NYK will charter under a long-term contract to Astomos Energy Corporation, pre-eminent liquefied petroleum gas (LPG) company.The ship was named “Lily Promenade” by Kazuhisa Otsuka, senior operating officer of Astomos Energy Corporation, and the ceremonial rope holding the vessel in place was cut by Mariko Kurokawa of Astomos.
Nakilat Posts 10.5% Surge in 9 Month's Net Profit
Qatari shipping and maritime company Qatar Gas Transport Company (Nakilat) reported a 10.5% year-on-year increase in net profit to QR728mn (USD 200 million) in the first nine months of this year.Nakilat, which has the largest LNG shipping fleet in the world, comprising 69 vessels, said in a press note that its positive financial performance can be primarily attributed to better operational performance in managing its liquefied natural gas (LNG) and liquefied petroleum gas (LPG)…
LR Grants Jiangnan AiP for VLGC Design
Classification society Lloyd's Register has awarded Chinese shipbuilder Jiangnan Shipyard (Group) Co., Ltd with Approval in Principle (AiP) for its 91,000-cubic-meter very large gas carrier (VLGC).The design, named “Panda 91T”, includes an liquefied petroleum gas (LPG) dual-fueled main engine and relevant fuel gas system, as well as an optional air lubrication system and the Energy Efficiency Design Index (EEDI) is approximately 40% lower than the base value, improving the efficiency…
Ocean Yield Buys Ethylene Gas Carrier
Norwegian shipowner Ocean Yield ASA has agreed to acquire Navigator Aurora, a 37,300 cbm ethylene gas carrier owned by Navigator Gas.According to agreement, the ship will be purchased for a total consideration of USD 69.75 million net of a seller’s credit, with a 13-year bareboat charter to a company 100% owned and guaranteed by Navigator Holdings - Navigator Gas.The vessel is expected to be delivered to the Company during October 2019. Navigator Gas has certain options to acquire the vessel during the charter period.
Hammerfest LNG Ships 1000th LNG Cargo
Norwegian energy company Equinor reached a milestone at its Hammerfest LNG facility on Melkøya Island, “the Snøhvit plant”, by loading the 1000th cargo of the chilled fuel.The cargo consists of 140 500 cubic metres of liquefied natural gas (LNG). Total sales value of all the LNG cargos since the field came on stream is in the range of NOK 130-150 billion. In addition, we have the value of liquefied petroleum gas (LPG) and condensate.Arctic Discoverer is the name of the tanker that will carry cargo number 1000 from the Hammerfest LNG plant.
Panama Canal Reports Record FY 2019 Tonnage
The Panama Canal has closed the 2019 fiscal year (FY19) with a record tonnage of 469 million Panama Canal tons (PC/UMS), a 6.2 percent increase compared to FY2018.With this figure, the waterway exceeds the 450.7 million PC/UMS tons projection for FY2019, as well as the record tonnage of 442 million PC/UMS tons registered in the previous fiscal year. These record-setting results reflect the Canal workforce's commitment to efficiency and ongoing investments in infrastructure, which will allow the waterway to meet the growing demand and offer a reliable and safe service to customers.
COSCO Tankers Disable AIS as Sanctions Bite
About one-third of the oil tankers owned by COSCO Shipping Tanker (Dalian) have shut off their ship-tracking transponders since the United States imposed sanctions on the company for allegedly shipping Iranian crude, shipping data showed.From Sept. 30 to Oct. 7, a total of 14 COSCO Dalian ships, six of which carry some oil, stopped sending location data from their automatic identification system (AIS), ship tracking data on Refinitiv Eikon showed. The U.S. imposed the sanctions on Sept.
Nakilat Acquires Four Q-Flex LNG Carriers
Nakilat has acquired the full ownership of four Q-Flex liquefied natural gas (LNG) carriers from its joint-venture partner International Seaways, following execution of a sale and purchase agreement for the acquisition of the remaining 49.9% ownership interest in these vessels from INSW. This brings the total number of vessels wholly-owned by Nakilat from 25 to 29 LNG vessels, out of its overall fleet of 74 LNG and liquefied petroleum gas (LPG) vessels.With a cargo carrying capacity of 217…
"Green" Ammonia's Future as a Marine Fuel
Ammonia, the same pungent solution used in fertilizers and cleaning agents, may one day be the key to transporting renewable energy around the world. There are currently a number of government and corporate projects assessing the feasibility of converting excess renewable energy from sources like wind, solar, tidal and nuclear into ammonia and then back into usable energy.In its purist form, ammonia or NH3 is composed of one nitrogen and three hydrogen atoms making it an ideal candidate to chemically bind excess renewable energy.
Epic Gas Refinances Two LPG Tankers
Singapore-based gas carrier owner and operator Epic Gas has completed the refinancing of two 2010-built liquefied petroleum gas (LPG) tankers.The two ships – the Epic Bali and Epic Borneo (each 2010 built, 7200 cbm) - were both in a finance lease structure and Epic Gas exercised a purchase option to refinance the vessels through a sale and lease back transaction with a Japanese ship owner, a press release from the fully pressurized gas carriers providing seaborne services for the transportation of LPG and petrochemicals.The bareboat charter back term is 10 years…
Hyundai Samho Wins Orders for 5 Ships
South Korean shipbuilder Hyundai Samho Heavy Industries, a unit of Hyundai Heavy Industries (HHI), received orders for the construction of five vessels.According to Yonhap, the orders include two liquefied petroleum gas (LPG) carriers and three petrochemical carriers - for some 410 billion won ($337 million) combined.Hyundai Samho will build two LPG carriers with a cargo capacity of 84,000 cubic meters (2.97 million cubic feet) by November 2021 for 197.3 billion won, for an unidentified…
StealthGas Adds Vessels, Wins Charters
StealthGas Inc, the world's largest owner of liquefied petroleum gas (LPG) pressurized carriers in the strategic 3,000-8,000cbm segment, has expanding its fleet with two acquisitions. The company has also made six chartering arrangements.The Greek shipping transportation company announced that it has entered into a new LPG sub segment through the acquisition of a secondhand (2007 built) 38,000 cbm fully refrigerated vessel. This vessel was acquired with its JV partner.The company also announced its entrance into a second new LPG sub segment…
Flowserve Inks Deal for Prelude FLNG
Flowserve Corporation (FLS), a provider of flow control products and services for the global infrastructure markets, has entered into a five-year contract with Shell Australia to provide general maintenance services for Shell’s Prelude Floating Liquified Natural Gas (FLNG) facility, which is producing natural gas from an offshore field in Western Australia.A press release from the American multinational corporation said that it will support Prelude from its recently refurbished Quick Response Center (QRC) in Darwin…
U.S. LPG Exports Grow by 22%: Dorian LPG
U.S. liquefied petroleum gas (LPG) exports have grown year-over-year by 22% to 22.5 million tons year-to-date (YTD) and Middle East exports have grown on the same basis 3.5% to 22.6 million tons, said Dorian LPG.For the first time, U.S. and Middle East volumes were equal, said the owner and operator of modern very large gas carriers (VLGCs)."Our expectation is that the U.S. exports will grow faster than those from the Middle East. U.S. propane inventories continue to push towards the higher-end of their 5-year range…
Anthony Veder Boosts Gas Pool Fleet
Anthony Veder, which operate gas tankers in all the segments of gas shipping, from LPG shipping to LNG shipping and from CO2 shipping to ethylene shipping, will take over the commercial management of five gas carriers of Chicago-based GATX Corp.The vessels will start trading in Anthony Veder’s gas pool in June, the Rotterdam-based shipowner said in a press note.With this transaction Anthony Veder further strengthens its position as liquified gas shipping company to a fleet of 38 ethylene, LPG and LNG carriers, it said.The gas carriers previously were part of the Norgas pool and will be renamed starting with Coral, the release noted.Three out of five vessels will transport liquefied petroleum gas and petrochemical gasses such as ethylene.
KOTC Renews Marine Lubes Deal with Lukoil
Dubai-based subsidiary of Lukoil, Lukoil Marine Lubricants has reached a renewal agreement with Kuwait Oil Tanker Company (KOTC), a unit of of Kuwait Petroleum Corporation (KPC), for the supply of marine lubricants.For the past three years, Lukoil has supplied KOTC’s full fleet of tanker vessels with its specialized product of marine lubricants. The new deal between the two companies will help to build upon the existing foundation of an already solid business working relationship.As per the contract terms…
U.S. LPG Gas Exports Up in Q1
North American liquefied petroleum gas (LPG) export capacity is forecast to grow considerably over the next two years, said Dorian LPG.According to the LPG shipping company, bolstered by additional volumes out of Marcus Hook in the northeast U.S. due to the startup of the Mariner East 2 pipeline, U.S. exports reached their highest levels for the first calendar quarter of 2019 in January with over 3 million metric tons of LPG exported during the month.However, significant reductions in U.S.
Shipping of First LNG Cargo from Prelude is "Imminent" - Royal Dutch Shell
Shipping of the first liquefied natural gas (LNG) cargo from the long-awaited Prelude floating production project in Australia is "imminent", Royal Dutch Shell said on Tuesday.Prelude - the world's biggest floating LNG production unit and the biggest maritime vessel ever built - is expected to have an annual LNG production capacity of 3.6 million tonnes.It will also produce 1.3 million tonnes a year of condensate and 400,000 tonnes a year of liquefied petroleum gas (LPG). (Reuters, Reporting by Ekaterina Kravtsova; Editing by Jan Harvey)
USCG & Liquefied Gas Cargoes as Marine Fuel
The establishment of air emissions regulations in the form of Emission Control Areas (ECA) and the approaching IMO 2020 sulfur cap have driven the search for economically, commercially, and environmentally acceptable marine fuels. With advancements in technologies and the significant growth of U.S. liquefied gas export markets, Coast Guard examiners are seeing a new trend on vessels carrying liquefied petroleum gas (LPG) and ethane; these vessels are using their cargoes as fuel…