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Gasum to Manage Wasaline’s Emissions Allowances
Finnish state-owned energy company Gasum has been selected by shipping company Wasaline to manage its EU Allowances (EUA) portfolio.The partnership will enable Wasaline to better predict and manage the costs of its emissions allowances, according to the company.The EU emissions trading system has included the maritime sector since the beginning of this year.Outsourcing their emissions trading and EUA…
QatarEnergy Selects Nakilat to Own and Operate 25 LNG Vessels
QatarEnergy has selected Qatar Gas Transport Company Limited (Nakilat) to be the owner and operator of up to 25 conventional-size LNG carriers pursuant to Time Charter Parties (TCP).The 25 vessels, each with a capacity of 174,000 cubic meters, will be owned 100% by Nakilat and chartered out to affiliates of QatarEnergy. They are scheduled for construction at South Korean shipyards.This constitutes…
Furetank Orders Two More Vessels
Furetank adds another two Vinga vessels to the order line. Upon delivery, Furetank’s fleet will consist entirely of environmentally proven, top standard vessels with an average age of two years, the company said."We did our homework. This development towards sustainability has been an amazing journey," said Furetank CEO Lars Höglund.The vessels are number 20 and 21 in the Vinga series of intermediate size product tankers and will be fully owned by Furetank Rederi AB.
Russia's Arctic LNG 2 Last Line is on Hold
The third and the last train of the Arctic LNG 2 project in Russia has been put on hold but the second train is likely to be installed, the head of stakeholder TotalEnergies' said.The liquefied natural gas (LNG) project in the Russian Arctic has faced challenges from U.S. sanctions imposed on the project last November over the conflict in Ukraine, and subsequent force majeures by shareholders.At the end of 2023 Arctic LNG 2 started tentative production at its first train…
Panama Canal Does Not Plan Transit Restrictions Before April
The Panama Canal sees no need for further vessel transit restrictions until at least April, when its authority will evaluate water levels at the end of the dry season, Deputy Administrator Ilya Espino told Reuters.A severe drought last year forced the canal to reduce the number of vessels allowed to pass per day. In December, rains in the last quarter of the year allowed the waterway to suspend further restrictions that would have been applied in January.In recent months…
New RoPax Vessel Delivered to Stena RoRo
Stena RoRo announced it has taken delivery of the 10th vessel in its E-Flexer series from the CMI Jinling, Weihai Shipyard. The vessel, named Ala'suinu, will be on a long charter agreement with the Canadian state-owned Marine Atlantic and operate a ferry line in eastern Canada between Newfoundland and Nova Scotia.“We are very excited to welcome the Ala’suinu to our service,” says Gary O'Brien, Chair, Board of Directors, Marine Atlantic.
Edda Wind Names Øverlie CFO
Norwegian offshore wind vessel owner Edda Wind announced it has appointed Hermann Hovland Øverlie as its new chief financial officer (CFO) following the resignation of Tom Johan Austrheim. Øverlie will join Edda Wind March 1, 2024.Øverlie is currently senior vice president of business development at Flex LNG and was previoulsy CFO at Amar Group. Øverlie has also extensive experience from financial/liquidity planning…
Japan’s First LNG-Fueled Capesize Bulk Carrier Delivered
An LNG-fueled capesize bulk carrier, ordered by NYK and to be deployed to transport iron ore and coal from Australia to Japan under a long-term consecutive voyage charter contract with JFE Steel Corporation (JFE), has been delivered.The naming ceremony for the vessel was held on January 30, 2024, at Japan Marine United Corporation's Tsu Shipyard in Mie Prefecture.The vessel is the first capesize LNG-fueled bulk carrier to be built at a shipyard in Japan…
NYK and JERA Agree Long-Term Charter for New LNG Carrier
NYK and JERA have signed a long-term charter contract for a new liquefied natural gas (LNG) carrier to be built in South Korea by Hyundai Samho Heavy Industries.The vessel will be delivered in 2027 and will be used to transport LNG for JERA. The contract is expected to contribute to the stable supply of LNG in partnership with JERA and strengthen and promote NYK’s LNG business as a core business of the company.The vessel will be equipped with a next-generation X-DF2.2 iCER dual-fuel…
DNV Confirms Energy Efficiency Gains for LNG Carries with DFE+ Propulsion
New Dual Fuel, Electric+ (DFE+) concept, developed by ABB and MAN Energy Solutions, has been recognized by DNV as a more energy efficient alternative to current conventional designs for liquefied natural gas (LNG) carriers.DNV has quantified the gains that owners of LNG carriers could expect to achieve using the new DFE+ solution and found that it could help LNG carriers boost energy efficiency by up to 7.5%…
Asia LNG Imports Are Robust, But Record Supply Keeps Spot Prices Muted
The spot price of liquefied natural gas (LNG) is continuing to meander at low levels amid ample supply from major exporters and signs that winter demand is easing in the top-importing regions of Asia and Europe.The spot price for LNG delivered to north Asia ended at $9.60 per million British thermal units (mmBtu) in the week to Feb. 2, up slightly from the seven-month low of $9.50 the previous week.Spot…
Alternative Fuel Newbuilding Orders Strong in January
According to the latest figures from DNV's AFI platform, it was another strong month for alternative fuel orders. This was led by methanol fueled ships, where 23 new orders were registered. Around 70% of these were in the container segment with the remainder mainly made up of vessels in the bulk and RoRo segments.LNG continues to feature strongly, with 10 more LNG fueled ships added to the database. Car carriers and tankers made up the bulk of these orders, followed by RoPax.
OSV Owners Reap the Rewards of Data Sharing
A ‘Connected Future’ seminar, organized by Inmarsat in collaboration with Maritime Reporter & Engineering News and moderated by Greg Trauthwein, encapsulated the critical roles technology and data sharing play in enabling more efficient and sustainable workboat operations, and in improving conditions for crew.Insights from leading Offshore Supply Vessel owners and operators capture the extent to which technology and data sharing are driving greater efficiency…
MOL to Supply FSRU for New Polish LNG Import Terminal
Mitsui O.S.K. Lines (MOL) has been selected by Gaz-System as the preferred shipowner to time charter out a floating storage and regasification unit (FSRU) for the planned LNG import terminal in the Gulf of Gdańsk in Poland.Polish gas transmission system operator Gaz-System is the project developer and operator behind the future LNG terminal.This is Poland's first such FSRU and is a strategically important…
Seatrium Secures Contract for LNG Carrier Repairs
Seatrium has secured a favored customer contract with TMS Cardiff Gas for the repair and upgrade of its LNG carriers. The contract includes the refit of 17 LNG carriers in Singapore, with responsibilities in joint planning, information and experience sharing.Alexandros Politis-Kalenteris, Deputy Chief Operating Officer, TMS Cardiff Gas, said, “The selection of Seatrium as our partner in Singapore aligns with our strategy to grow our LNG business in Asia.
Cradle-to-Grave LNG Carrier Study Spotlights Crucial Role of Alternative Fuels for GHG Reduction
Alternative fuels, green steel and renewable energy are fundamental to greenhouse gas (GHG) emissions reduction during the life cycle of a vessel, an industry-first cradle-to-grave study on a newbuild LNG carrier has revealed.Carried out by Lloyd’s Register, Knutsen, HD Korea Shipbuilding and Offshore Engineering (HD KSOE), and HD Hyundai Heavy Industries (HHI), the analysis has highlighted the environmental output at each stage of a vessel’s life.Namely…
Deltamarin Inks Design Deal for Stena RoRo’s 13th E-Flexer RoPax
Finland-based naval architecture and marine engineering firm Deltamarin informs it has signed a design contract with China Merchants Jinling Shipyard (Weihai) for the complete basic and detail design of a new RoPax vessel.The new RoPax is the 13th vessel in the Stena RoRo’s E-Flexer series and is the first to be delivered to the Mediterranean region. Corsica Linea will charter the vessel for operation on Marseille – Corsica route from Stena RoRo, with a purchase option.
CMA CGM Lines Up Methanol Retrofits
CMA CGM has lined up several of its existing containerships for conversion to dual-fuel methanol propulsion.The French ocean carrier has signed contracts with China State Shipbuilding Corporation’s (CSC) Qingdao Beihai Shipbuilding to carry out the conversions starting from mid-2025. The program will reportedly include one or two 9,300 TEU vessels but could grow to up to 10 ships if successful.CMA…
New Fortress Energy Gets US Clearance to Ship Altamira LNG
U.S. Customs and Border Protection has issued a ruling to New Fortress Energy, confirming that the transportation of LNG produced at the its FLNG facility located offshore Altamira in Mexico by non-U.S. qualified vessels would not violate the Jones Act.As a result of this ruling, NFE is now able to sell and deliver LNG produced at its FLNG facility located offshore Altamira, Mexico to U.S. locations…
World's Largest Cruise Ship Sets Sail, Bringing Concerns About Methane Emissions
The world's largest cruise ship is set for its maiden voyage on Saturday, but environmental groups are concerned that the liquefied natural gas-powered vessel - and other giant cruise liners to follow - will leak harmful methane into the atmosphere.Royal Caribbean International's Icon of the Seas sets sail from Miami with capacity for 8,000 passengers across 20 decks, taking advantage of the surging popularity of cruises.The ship is built to run on liquefied natural gas (LNG)…