EIB Fund Greek LNG Bunkering Vessel Construction
European Investment Bank (EIB) and Public Gas Corporation of Greece (DEPA) have signed an agreement to finance with up to 20 million euros the construction of a new liquid natural gas (LNG) bunkering vessel for maritime use in Greece which will be based in Piraeus. EIB said that the first vessel of its kind in Greece and the Eastern Mediterranean will have a capacity of 3,000 cubic meters and will be supplied with LNG at Revithoussa LNG terminal.The bunker tanker will refuel its LNG at Revithoussa LNG terminal and will carry out bunkering both in Piraeus and other Greek ports…
Alfa Laval Joins 'Getting to Zero Coalition'
Sweden's Alfa Laval has joined the Getting to Zero Coalition, a coordinated effort to fight climate change by introducing zero-emission vessels by the year 2030.Alfa Laval is committed to reaching this vital goal, which is key to decarbonizing the global shipping industry and reaching the International Maritime Organization (IMO) target of cutting vessel-related greenhouse gas emissions by at least 50% by 2050.The ‘Getting to Zero Coalition’ was announced on September 23, 2019…
Gazprom Neft, USC Join for LNG Project
Russian oil producer Gazprom Neft, Gazprom gas-engine fuel, and the United Shipbuilding Corporation (USC) have concluded a tripartite cooperation and strategic partnership agreement on developing a liquid natural gas (LNG) fleet and related infrastructure.The memorandum was signed by Gazpromneft Marine Bunker Acting CEO Alexei Medvedev, Gazprom gas-engine fuel, Director General Oleg Melekhin, and USC President Alexey Rakhmanov.The agreement envisages the parties cooperating in research and development activities directed at creating production capacity both for building vessels running on LNG…
UPM to Charter 7 LNG-fueled Newbuilds
Helsinki-headquartered UPM Logistics says that it has entered into a long-term charter agreement with the Finnish Bore Ltd and the Dutch Wijnne Barends, both affiliates of the Dutch Spliethoff Group.Together, the companies will design and build seven state-of-the-art vessels for sustainable sea transportation for UPM in Europe.“This arrangement is a consistent step in UPM’s logistics strategy. It will safeguard a sustainable, competitive and reliable shipping solution for our businesses and customers on long term…
Global LNG Trade Continues to Increase
Höegh LNG Partners, a provider of floating liquid natural gas (LNG) services under long-term contracts, said that with new LNG production facilities in the US and around the world coming on stream, global LNG trade continues to increase.This, together with competitive LNG pricing and environmental arguments, are driving interest in FSRUs world-wide, said the company which owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals.
Brittany Ferries Extends Contract with Portsmouth
U.K.'s Portsmouth International Port's relationship with major European ferry operator, Brittany Ferries, has been strengthened following the announcement of an additional five years to a joint long-term agreement.This means Brittany Ferries is committed to Portsmouth until the end of 2031, during which time a further three ships will join the current fleet serving routes from the city. Alongside the Honfleur, Brittany Ferries' state-of-the-art environmentally friendly ship powered by Liquid Natural Gas (LNG)…
Seaspan Orders Two LNG Battery Hybrids
Canada's Seaspan Ferries will add two new Liquid Natural Gas (LNG) - battery hybrid ferries to its fleet in 2021.The vessels will be constructed by Damen Shipyards Gorinchem B.V. at their Mangalia Shipyard in Romania, said a press release from the marine transportation services provider.With construction scheduled to begin in 2019, the vessels are expected to go into operation in 2021. They will join the Seaspan Swift and the Seaspan Reliant, the company’s first hybrid ferries…
Saudi Aramco to Buy LNG from US
Saudi Arabia’s state owned oil company Saudi Aramco will buy 5 million tons of liquid natural gas per year(LNG) from the U.S. company Sempra Energy, based in San Diego under a 20 year agreement.The heads of agreement (HOA) between the companies anticipates the negotiation and finalization of a definitive 20-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for five million tonnes per annum (Mtpa) of LNG offtake from Phase 1 of the Port Arthur LNG export-project under development.
Senator Cassidy: No Jones Act Waiver
A Republican U.S. senator on Wednesday said President Donald Trump will not waive rules requiring that only U.S.-flagged ships move natural gas from American ports to Puerto Rico and the U.S. Northeast.The nearly 100-year-old Jones Act mandates the use of U.S.-flagged vessels to transport merchandise between U.S. coasts. Republican senators said the administration was seriously considering waiving the requirements for 10 years. Bloomberg News reported last week that Trump was leaning in favor of some kind of waiver.Senator Bill Cassidy, a Louisiana Republican, told reporters on a conference call that Trump told Republican lawmakers he would not support a waiver.
Keel Laying for Ohana Class Containerships
The ceremonial keel laying for M/V George III and the cutting of the first steel plates for M/V Janet Marie - two Liquefied Natural Gas (LNG) fueled containerships was held t at Brownsville, TX-based Keppel AmFELS.Upon completion, both 774-foot U.S. Jones Act vessels will join Pasha Hawaii’s fleet, serving the Hawaii/Mainland trade lane.Delivery of the ‘Ohana Class vessels—named in honor of the late parents of The Pasha Group President and CEO George Pasha, IV—is expected in 2020.“Construction of the new vessels continues to progress on schedule,” said George Pasha, IV.
Trump to Meet with GOP Senators on Jones Act
President Donald Trump is set to meet with Republican senators on Wednesday over a proposal to waive rules that only U.S.-flagged ships can move natural gas from American ports to Puerto Rico and the U.S. Northeast.The nearly 100-year-old Jones Act mandates the use of U.S.-flagged vessels to transport merchandise between U.S. coasts. Bloomberg News reported last week the administration was seriously considering waiving the requirements for some energy shipments and that Trump…
LNG Only Fills Niches in Europe
Although LNG (Liquid Natural Gas) provides a solid supplement to European gas supplies, the EU is and will remain a pipeline market – for good reasons, said Wintershall's new position paper.The report from Germany's largest crude oil and natural gas producer on the importance of liquid gas for Europe said that the liquefaction is highly energy-intensive – the energy consumption corresponds to about 13% of the gas transported.With an energy loss of less than five percent, pipelines are much more energy-efficient. Another argument for pipeline gas lay in its lower costs.
Thun's Green Tanker on Preem Lease
Swedish coastal shipping company Thun Tankers to name the new, environmentally adapted tanker “Thun Evolve” in Groningen, Holland today (Saturday).The tanker will be long-term leased by Preem for deliveries to the company’s depots and customers in Sweden, Norway and Denmark, said the shipping company. The ship will be delivered to Preem at the end of March.The vessel, built in the Netherlands, is a welcome addition to the company's commitment to safer, efficient and sustainable maritime transport…
Guangzhou Launches World's First Icebreaking LNG Tanker
The world's first liquid natural gas (LNG) carrier tanker was named 'Boris Sokolov' and delivered by Guangzhou Shipyard International in Guangzhou City.According to Chinese state media, the Arctic condensate tanker carrier designed to traverse the world's icy northern polar region.With a load capacity of 44,550 tons, the vessel, which is built for for Dynacom of Greece, can sail in the Arctic region without icebreaker-piloting, it said. The vessel is mainly used for transporting condensate oil for the Yamal LNG project in northwest Siberia…
BIMCO Eyes Asia with New Gas Contracts
Baltic and International Maritime Council (BIMCO) will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.A press release from the largest of the international shipping associations representing shipowners said that it is planning to develop the new contracts in Asia in an effort to further increase the involvement of its Asian members. Both projects will be developed mainly by experts from the region and managed by BIMCO’s Shanghai office…
Braemar Shipping Services Adds New LNGC 'LNG Schneeweisschen'
Braemar Shipping Services announced the successful delivery of the 180,000m3 Liquid Natural Gas Carrier (LNGC) called “LNG Schneeweisschen” from Daewoo Shipbuilding & Marine Engineering (DSME), South Korea, as part of the ongoing LNGC newbuilding project between Uniper Global Commodities SE (Uniper) and Braemar.The international provider of broking, financial, consultancy, technical and logistics services to the shipping, marine, energy, offshore and insurance industries said that the vessel has been built for Japan based owners…
LNG is the Bridge to ‘Zero Emissions’ Shipping
The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now little more than one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap, already in effect since 2015 in coastal Emissions Control Areas (ECAs) in Europe and North America…
Wärtsilä: Maintenance Pact for Viking Grace
Wärtsilä and Viking Line signed an Optimized Maintenance agreement for the Wärtsilä LNGPac system onboard passenger ferry Viking Grace, significant in that it is the first Optimized Maintenance agreement ever made for Wärtsilä LNGPac, a complete gas handling system for ships fueled by liquefied natural gas (LNG). Viking Grace was the first passenger ferry to useLNG as a fuel source. The agreement also includes Condition Based Maintenance (CBM) and online support for the Wärtsilä LNGPac system.
TechnipFMC Grabs BP FPSO Design Contract
UK-based TechnipFMC has been awarded a front-end engineering design (FEED) contract by BP for the floating production storage and offloading (FPSO) unit for the Tortue/Ahmeyim Field Development, a major LNG (liquefied natural gas) project located offshore on the maritime border of Mauritania and Senegal. The agreement between the two companies provides a mechanism to allow a transition of the contract to an Engineering, Procurement, Construction and Installation (EPCI) contract at a later stage.
Emissions Regulations: 'It's Not Easy Being Green'
Nor is it getting any easier to understand when, how and why to comply. Whether your marine operation is a major corporation or a family “mom and pop” company, the type of fuel you now burn or for that matter what emanates from your stack each day after the burn has now become a major source of confusion. As Kermit the Frog once said, we will now know what its like to be green. Some believe the discussion is a new subject. It is not. Those of us that work the oceans, rivers and sounds for a living always had a concern of how much fuel we burn and what the quality of that fuel was.
BP Selects McDermott, BHGE for Subsea Contracts
McDermott International and Baker Hughes (BHGE), a GE company announced the selection of front-end engineering design (FEED) studies in advance of a substantial engineering, procurement, construction and installation (EPCI) contract for BP’s Tortue/Ahmeyim Field Development, a major gas project located on the maritime border of Mauritania and Senegal. During this initial engineering phase, McDermott will work on defining the subsea umbilicals, risers and flowlines (SURF) scope for the project, while BHGE will focus on the subsea production system (SPS) scope.
MISC Profit Plunges
Malaysia International Shipping Corporation Berhad (MISC)'s net profit plunged 87.1% to RM 68.2 million (USD 17.36 mln) for the fourth quarter ended December 31, 2017 compared with RM 529.8 million (USD 134.88 mln) in the previous corresponding period. MISC said the oversupply of tonnage and cut in global oil production by OPEC in 2017 will continue to weigh on the petroleum shipping segment in 2018. However, a smaller order book for tankers and robust oil demand projections amidst declining global crude inventory will help improve tanker supply-demand balance.
LNG Market to Reach USD 20.6 bln by 2025
The global liquid natural gas (LNG) market is expected to reach USD 20.6 billion by 2025, growing at a CAGR of 12.7%, Research and Markets reported. Rising focus on development and expanding gas pipeline infrastructure and growing demand for natural gas from downstream sectors is a crucial driving factor for the industry. Decreasing LNG prices along with execution of favorable government rules and regulations, which are attracting FDIs & tax schemes are also conducive to industry growth.