FSRU Suppliers Shift from Emerging Markets, Cut Back New Orders
Political instability and low credit ratings in emerging economies are putting some shipowners off ordering new floating storage and regasification units (FSRUs), as they shift focus to more mature gas markets.Liquefied natural gas (LNG) demand from emerging markets in Asia, Africa and South America was expected to be boosted by FSRU technologies that are less expensive and time-consuming than onshore import terminals.But a boom in speculative FSRU orders from shipowners led to an oversupply of units this year as import projects across the world were delayed or cancelled…
Oldendorff Inks Transhipment Deal in Vietnam
Oldendorff Carriers said it has signed an integrated coal transport and transhipment agreement for a new power station project to be built in the North of Vietnam at Nghi Son. The customer is a consortium between Marubeni Corp of Japan and Korea Electric Power Corporation (Kepco) named Nghi Son 2 Power Limited Liability Company (NS2PC).The agreement is expected to include the transportation of about 100 million metric tons of coal over 25 years. Oldendorff Carriers signed the 25-year agreement with NS2PC…
Hoegh LNG to Supply FLNG Terminal to Australian Import Project
Norway's Hoegh LNG has won a tender to supply a floating LNG import terminal for a consortium aiming to import liquefied natural gas to Australia's east coast from 2020 in a push to boost local supply.Australian Industrial Energy, a consortium that includes Japan's JERA and Marubeni Corp, said on Monday it signed an agreement giving it the right to lease one of Hoegh LNG's floating storage and regasification units (FSRU), to be docked at Port Kembla.The project needs approvals from the state of New South Wales, which is evaluating the proposal on a fast track as "critical state significant inf
New LNG Import Terminal Planned at Port Kembla
A consortium including Japan's JERA Co and Marubeni Corp aiming to ship liquefied natural gas (LNG) to Australia's east coast has chosen a site south of Sydney at Port Kembla for an import terminal, it said on Monday.The project will allow access to a new gas supply for local industries in New South Wales state by 2020, the consortium, Australian Industrial Energy (AIE), said in a statement.AIE also includes iron ore magnate Andrew Forrest's Squadron Energy. Top global LNG buyer…
Peru Resumes LNG Exports after Pipeline Rupture
Peru has exported its first shipment of liquefied natural gas (LNG) in three weeks after a pipeline rupture in the jungle disrupted production, the state energy agency Perupetro said on Tuesday. The ship Barcelona Knutsen departed Peru for South Korea on Monday with 170,999 cubic meters (6,038,772 cubic feet) of fuel from the Pampa Melchorita plant, which is operated by the consortium Peru LNG, Perupetro said in a report. U.S.-based Hunt Oil has a 40 percent stake in Peru LNG. Royal Dutch Shell Plc, Japan's Marubeni Corp and other companies have smaller stakes in the consortium.
Novatek Inks Agreements with Japanese Companies on Gas
Novatek, Russia's second biggest gas producer, said on Friday it had signed agreements with Japan's Mitsui & Co, Mitsubishi Corp and Marubeni Corp to cooperate in liquefied natural gas and other energy sectors. Japan, lacking fuel resources, is the world's largest importer of the gas while Russia wants to boost its global LNG market share, currently less than 5 percent. Novatek's Chief Executive Leonid Mikhelson said the agreements focused on potential gas production, gas liquefaction and liquefied natural gas transport. Novatek is interested in LNG trading with the three Japanese trading companies, he said. Marubeni said in a statement that it would explore opportunities to develop upstream and midstream areas for the Arctic LNG-2 project which Novatek is newly implementing…
Gavilon to Expand Grains Operations in Brazil
U.S.-based grain merchant Gavilon Group LLC said on Thursday it plans to invest $300 million in Brazil to nearly double the amount of grain it handles in the South American country. Gavilon expects to import or export 6.3 million tonnes of grain in 2015, up from 3.3 million tonnes of grain this year, the company said in a statement. A press representative said the short-term investments would be made mostly in acquisitions of other companies and logistics, especially ports, but declined to give details. Omaha-based Gavilon, owned by Japanese trading house Marubeni Corp, exports and imports wheat, soybeans, and corn in Brazil. Brazil…
Barge Shipments of Brazil Soy Bound for US Midwest Crushers
Deep discounts for Brazilian soybeans are creating an unexpected new market with U.S. processors and animal producers far upstream in the heart of the Midwest farm belt where the beans will be shipped on barges. While light soybean imports by U.S. users along the Gulf and East Coast are not uncommon, it has been nearly two decades since South American supplies were unloaded at the Louisiana Gulf and towed up the Mississippi River to inland processors. The current trend reverses the usual flow of barge traffic and sees ports around New Orleans which usually load ocean-going ships with beans switching to unloading arrivals onto barges.
Brazilian Soybeans Sold to China Bound for US
Two Brazilian soybean cargoes sold by Japan's Marubeni Corp that were initially sold to China have been switched to the United States, according to port and shipping data updated on Tuesday, the latest of several U.S. import shipments expected this season. The vessels containing a total of 125,000 tonnes of the oilseed are scheduled to reach the United States next month. Importers in China, the world's top soybean buyer, have already defaulted on at least 500,000 tonnes of U.S. and Brazilian soybean cargoes worth around $300 million amid slowing demand and tightening credit in China. At least one of the cargoes was sold by Marubeni. Some cargoes initially purchased by Chinese importers have found new destinations in the United States and Europe.
Floating Windmills in Japan Help Wind Down Nuclear Power
Japan is preparing to bolt turbines onto barges and build the world’s largest commercial power plant using floating windmills, tackling the engineering challenges of an unproven technology to cut its reliance on atomic energy. Marubeni Corp., Mitsubishi Heavy Industries Ltd. and Nippon Steel Corp. are among developers erecting a 16-megawatt pilot plant off the coast of Fukushima, site of the nuclear accident which pushed the government to pursue cleaner energy. The project may be expanded to 1,000 megawatts, the trade ministry said, larger than any wind farm fixed to the seabed or on land. “Japan is surrounded by deep oceans, and this poses challenges to offshore wind turbines attached to the bottom of the sea…
Wind Power Seen Surging as Custom Barges Cut Cost
Offshore wind-power producers from Dong Energy A/S to RWE AG are building custom ships at record rates to reduce the cost of the technology which is three times as pricey as electricity from coal plants. As many as 20 vessels, some with movable legs which reach the seafloor, will come onto the market in the next few years, reducing chartering costs of as much as 200,000 euros ($261,000) a day, said Marc Seidel, an offshore engineer at Suzlon Energy Ltd., which supplies turbines to Germany’s RWE. A lack of specialized installation ships has forced companies to hire barges designed for oil exploration, holding up work at projects such as EON AG’s Robin Rigg wind farm off Scotland’s western coast.