North Asia News

18 Oct 2019

LR Grants Jiangnan AiP for VLGC Design

(Photo: Lloyd's Register)

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…

17 Oct 2019

LR Awards AiP to DSME for VLEC Design

From left to right: Odin Kwon, DSME Executive Vice President and CTO, with Mark Darley, LR’s North Asia President during the AiP ceremony at Gastech 2019 in Houston (Photo: LR)

Classification society Lloyd's Register said it has awarded Approval in Principle (AiP) to South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) for its 98,000-cubic meter very large ethane carrier (VLEC) design with new cryogenic material High Manganese Austenitic steel (High MnA) and sloshing-free tank, the first VLEC design to use this type of material.DSME’s 98,000 m3 VLEC design is made of DSME-patented ‘Type B’ tank so it can operate with partial loading due to a sloshing-free tank design making vessel operations flexible and efficient…

16 Oct 2019

Partners Developing LNG-fueled VLCC

© Carabay / Adobe Stock

Partners involved in a new joint development project (JDP) have set out to design a very large crude carrier (VLCC) that will run on liquefied natural gas (LNG) fuel.Lloyd's Register (LR), China Merchants Energy Shipping Co., Ltd. (CMES), CNOOC Gas and Power Group, Dalian Shipbuilding Industry Co., Ltd. (DSIC), and GazTransport and Technigaz SA (GTT) have teamed up to evaluate design options for an LNG-fueled VLCC that uses a prismatic GTT Mark III membrane LNG tank. The scope of the JDP includes reviewing solutions to minimize construction costs for LNG-fueled ships…

19 Aug 2019

World’s First: LR Digital Type Approval to HHI

Pic by LR, Hyundai Heavy Industries Co.

The world's largest shipbuilding company Hyundai Heavy Industries Co (HHI) has become the first to obtain a Lloyd’s Register (LR) approval for a digital component as it received green light to use the technology for its Integrated Smartship Solution (ISS).According to LR, digital type approval delivers an assurance system to provide confidence in the market for the supply of digital components and offers all the benefits of traditional type approval; reassurance on supply chain quality and robustness within the marine environment.

22 May 2019

KVH Appoints Loke VP Asia Pacific

Ken Loke (Photo: KVH Industries)

KVH Industries (Nasdaq: KVHI) said that Ken Loke has been named Vice President – Asia Pacific, to direct all initiatives for KVH in this  region. Loke has extensive experience in satellite and managed services with top companies active in the telecommunications and maritime industries. KVH provides connectivity solutions for the maritime market, including global mini-VSAT Broadbandsm services used by thousands of vessels worldwide.Prior to joining KVH, Loke held the positions of chief commercial officer and chief executive officer for Eutelsat – Asia Pacific…

03 May 2019

Global LNG Imports Up in Q1 by 11%

Pic: GasLog Ltd

Despite the liquefied natural gas (LNG) demand in the first quarter of 2019 being negatively impacted by warmer than usual weather in the Northern Hemisphere winter, global LNG imports during the period totalled 88 million tonnes (mt), compared to 79 mt in the first quarter of 2018, or an increase of 11%, GasLog said quoting Poten.In particular, China’s LNG imports totalled 15.3 mt, 24% higher than the first quarter of 2018.Europe’s LNG imports in the first quarter more than doubled to 22 mt…

26 Apr 2019

GasLog Predicts LNG Spot Rate Recovery

Pic: GasLog LNG carrier

GasLog Partners, which owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters, said that the longer-term outlook for natural gas demand continued to strengthen in the first quarter of 2019.Despite LNG demand in the first quarter of 2019 being negatively impacted by warmer than usual weather in the Northern Hemisphere winter, global LNG imports during the period totalled 88 million tonnes (mt), compared to 79 mt in the first quarter of 2018, or 11% growth, according to Poten.In particular, China’s LNG imports totalled 15.3 mt, 24% growth over Q1 2018.

11 Dec 2018

APL, Cheng Lie Navigation to Merge Intra-Asia Service

Image: Cheng Lie Navigation

The container transportation and shipping company American President Lines Ltd (APL) announced the proposed acquisition of the book of business of its sister company Cheng Lie Navigation (CNC), Taiwan's Intra-Asia carrier.With this, APL will consolidate all its Intra-Asia business under the CNC brand to be operated from Singapore, retaining both sales networks and all sales channels.“This strategic move will enable us to become the Intra-Asia Champion with the most comprehensive market connectivity in the Far East.

05 Dec 2018

Floating LNG in Asia Finds Buyers as Prices Plunge

Atypical LNG carrier enroute to berth. (File image / Adobestock / © Fotmart

Nine or more tankers on the way or discharged into Asia, while at least five still holding LNG off Singapore.Several liquefied natural gas (LNG) cargoes that had been stored on vessels in Asian waters are now heading towards buyers' terminals in China, Japan or South Korea as spot prices for the super-chilled fuel have plunged this week to multi-month lows.At least nine LNG tankers are now on their way or have already offloaded cargoes to buyers after floating off Singapore, Malaysian or South China waters for up to two months…

15 Nov 2018

Floating LNG Storage in Asian Waters Soars as Demand Falters

File Image (CREDIT DNV GL)

As many as 20 LNG tankers floating in Asian waters; most off Singapore. The last time tankers used for storage was in 2014.Tankers storing liquefied natural gas (LNG) in Asian waters have more than doubled in number since late October as traders have been caught off guard by warmer-than-expected temperatures that have capped demand and pulled down prices.Spot market demand ahead of winter has been slowed by the forecasts for warmer temperatures this year in North Asia, with onshore storage tanks filling up."People were expecting China to buy as much as last year in the spot market…

13 Nov 2018

Lloyd's Register Approves STX's LNG-fueled MR Tanker Design

Image: Lloyd's Register

Lloyd’s Register has granted an approval in principle to STX Offshore & Shipbuilding for a 50,000 dwt MR tanker design capable of using LNG as a fuel. This development is the result of close collaboration between STX and LR.STX incorporated an LNG-fuelled propulsion system into their existing conventional MR tanker design with technical assistance and support from LR, ensuring that the design is in compliance with the new IGF code as well as LR’s Gas Fuelled Rules, covering other…

12 Nov 2018

China Becomes Top Natural Gas Importer

© vladsv / Adobe Stock

China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors in Japan reduces its LNG imports.China's total natural gas imports over January to October this year via pipeline and as liquefied natural gas (LNG) were at 72.06 million tonnes, up a third from the same period last year, according to Reuters calculations based on General Administration of Customs data.Japan…

11 Oct 2018

US Oil Exports to Asia May Slide Further

© Anatoly Menzhiliy / Adobe Stock

Rising shipping rates have increased the costs of shipping oil from the United States to Asia and may further the restrict the flow of U.S. oil to the region later this year, multiple trade and shipping sources said on Thursday.Freight rates for tankers that carry crude oil have soared globally, buoyed by peak seasonal demand, weather disruptions and higher bunker fuel costs, the sources said.The cost of chartering a Very Large Crude Carrier (VLCC) capable of carrying 2 million barrels of crude from the U.S.

09 Aug 2018

ZIM Annouces New Asia - America Network with 2M

File Photo: ZIM Integrated Shipping Services Ltd

Zim Integrated Shipping Services (ZIM) has announced the new Strategic Partnership Agreement with the 2M alliance, details of the new improved Asia - U.S. East Coast – Asia network that are now available.Nissim Yochai, ZIM EVP Trans Pacific Trade, said: "The new alignment will enable ZIM customers to enjoy the best of both worlds: ZIM’s highly reputed personalized service, along with the best-in-market infrastructure and product.”The new upgraded network includes 5 services under the ZIM+2M cooperation…

01 Aug 2018

Container Terminal Utilisation Levels Set to Rise: Drewry

Image: Drewry Shipping Consultants Limited

The medium term outlook for global container port demand growth is positive thanks to strong underlying economic momentum across the world’s major economies. While there may be clouds on the horizon in the form of tariff and trade war fears, economic fundamentals are likely to win-out in the long run, according to the Global Container Terminal Operators Annual Review and Forecast 2018 by global shipping consultancy Drewry.Against this positive picture near term container port capacity expansion will remain relatively subdued following several years of under investment…

21 May 2018

US Exports to China to Rise amid Trade Talks, but Volumes are Capped

© donvictori0 / Adobe Stock

China has pledged to buy more U.S. goods to reduce America's huge trade deficit and help avoid exacerbating a trade war between the world's two biggest economies, with energy and commodities high on Washington's list of products for sale.The U.S. trade war with China is "on hold" after the governments agreed to drop tariff threats and work on a wider agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Washington is especially keen to sell more of the United States'…

22 Apr 2018

Vopak to Invest in Rotterdam Terminal

Image: Artist impression: Vopak

Vopak Rotterdam Botlek is investing in 63.000 cbm state-of-the-art stainless steel capacity (15 tanks) for the storage of Styrene and other hazardous chemicals. Styrene is a vital product used in manufacturing of a wide variety of consumer goods serving markets such as packaging, construction (for example isolation) and automotive. The new infrastructure will be fully insulated to allow for product temperature control and is designed to prevent any emissions to the environment.

20 Apr 2018

Panama Canal LNG Volume Soars as Global Demand Grows

On April 17, the Panama Canal transited three LNG vessels – Clean Ocean, Gaslog Gibraltar and Gaslog Hong Kong – in one day, marking a first for the waterway. (Photo: Panama Canal Authority)

The Panama Canal may carry five times as much liquefied natural gas (LNG) in 2020 as it did last year as production of the fuel expands in the United States and Asian import demand rises, the head of the canal's governing agency told Reuters.LNG volumes traversing the Canal could hit 30 million tonnes a year before the end of 2020, said Jorge Quijano, who leads the Panama Canal Authority, up from 6 million tonnes last year.Demand for LNG has risen significantly in the last three years as the increase of supply…

28 Mar 2018

Vitol Stores Gasoline Aboard Ships off Singapore

File Image (CREDIT: AdobeStock / (c) Leeylutung)

Vitol seen storing gasoline off Singapore as local onshore light distillates stocks at record levels. European trader Vitol is storing gasoline on tankers offshore Singapore, Asia's biggest oil trading centre, for the first time since 2016 amid oversupply and weak demand for the fuel, said four people that participate in the market on Wednesday. The sources said that Vitol was seen storing gasoline aboard more than one so-called Long-Range (LR) tanker. The company does not typically comment on its trading operations.

27 Mar 2018

LR Grants Approval in Principle for HHI’s LNG-fueled VLOC

South Korean shipbuilder Hyundai Heavy Industries (HHI) has received approval in principle (AiP) from Lloyd’s Register (LR) for a 250,000-deadweight-ton (dwt) class very large ore carrier (VLOC) fueled by liquefied natural gas (LNG). HHI, who has been focusing its efforts on LNG-fueled ships ahead of the International Maritime Organization’s (IMO) SOx emission limitations from 2020, set out on a joint development project (JDP) last year with LR, ship owner and operator ANANGEL and LNG supplier WOODSIDE to develop the LNG-fueled 250,000 dwt VLOC design optimized for the trade route from North West Australia to North Asia, based on the XDF engine.

22 Feb 2018

LNG Heats Up Again as Market Changes: Russell

File Image: A Depiction of Harvey Gulf's Q-LNG ATB bunkering vessel. When built, this vessel, partnering with Shell, will provide LNG to a raft of new LNG / Dual Fuel Cruise ships currently being built. CREDIT: Harvey Gulf

If you were looking for signs that the liquefied natural gas (LNG) merry-go-round is starting to spin a little faster, the announcement of a planned massive expansion in Papua New Guinea is ample evidence. Global majors Exxon Mobil and Total are considering plans to double LNG exports from Papua New Guinea to about 16 million tonnes per annum, their partner Oil Search said on Feb. 20. If approved, three new trains would be added to the existing Exxon-operated PNG LNG facility…

14 Feb 2018

Global Seaborne LPG Volumes Grow: Epic Gas

Photo: Epic Gas Ltd.

Global seaborne LPG volumes saw continued growth in 2017 reaching 91.9 million tonnes, 4.3% higher than the 88.1 million tonnes shipped in 2016, says Epic Gas. Epic Gas loaded 2.8 million tonnes in 2017 and was involved in 2,486 cargo operations in 266 different ports. LPG cargoes made up 80% of the cargoes lifted with the balance being petrochemical. At the year end, we had 4 vessels operating in the Americas, 18 in the Europe/Middle East/Africa (EMEA) belt and 19 in Asia. Propylene imports into China reached a record high of 3.1 million tonnes…

14 Feb 2018

Asia's Soaring Gas Demand Beckons New LNG Projects

File Image: A typical LNG Carrier (CREDIT: GAC)

Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic metres (bcm) a month.

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