MarineLink News Search
Search term • LNG
SK E&S and Woodside Collaborate on Hydrogen and Ammonia
Australia-based Woodside and South Koreaâs SK E&S have signed a non-binding Memorandum of Understanding to enable studies on the potential development of a lower-carbon hydrogen value chain, including hydrogen, ammonia and other related products.Under the agreement, Woodside and SK E&S plan to jointly explore opportunities relating to long-term ammonia and hydrogen offtake arrangements; equity participation in ammonia and hydrogen production projectsâŠ
Samsung Heavy Industries Gets $1.5B FLNG Order
Samsung Heavy Industries (SHI) has secured an engineering, procurement and construction (EPC) contract for a new floating LNG production unit worth $1.5 billion.SHI formed a consortium with Black & Veatch for the delivery of the new FLNG unit, subject to final investment decision for the project (FID) being developed by the 'North American client'.Undisclosed by SHI, the client is most likely Haisla Nation and Pembina Pipeline Corporation (Pembina)âŠ
US Was Top LNG Exporter in 2023 as Hit Record Levels
U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023.The U.S. was the stand out in global LNG supply growth in 2023, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group of the rise to 8.6 million metric tons leaving U.S.
Performance Shipping Orders Two LR2 Tankers
Greek shipowner Performance Shipping Inc. announced it has signed two shipbuilding contracts with China Shipbuilding Trading Co. Ltd. (CSTC) and Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS) for the construction of two 114,000 DWT LNG-ready LR2 Aframax product/crude oil tanker vessels.The newbuilds, expected to be delivered in January and April of 2026, were ordered at a purchase price of US$64,845,000 per vessel, net of third-party commission.
Germany Builds up LNG Import Terminals
German utility RWE on Jan. 1 handed over floating liquefied natural gas (LNG) infrastructure at Brunsbuettel on the North Sea to state-owned Deutsche Energy Terminal (DET) as agreed when first imports arrived 10 months ago, it said.DET is now the sole operational manager and markets the capacity of the Brunsbuettel Elbehafen LNG project.Germany's quest to increase LNG capacity for regasification on its shores has intensified as it seeks to end reliance on Russian pipeline gasâŠ
Great Ships of 2023: Icon of the Seas
âTurku is building the real big ships,â said Meyer Turku CEO Tim Meyer.Meyer is not exaggerating. The yardâs latest newbuild, Icon of the Seasâthe first ship of Royal Caribbeanâs Icon classâis 248,655 GT, making it the largest cruise ship ever constructed.In general, the cruise ships rolling out of the nearly 300-year-old Finnish shipyard have been steadily increasing in size since the Meyer Group took full ownership in 2015.
Workboat Power: Alternatives Join Diesel to Power Currentâand FutureâVessels
Analysts and commentators are quick to point out that fossil fuels will power maritime equipment, and indeed dominate the fueling marketplace, well into the future. However, they will do so alongside new fuels, and new technologies, that will be introduced to the maritime sector in the coming years. In its September, 2023 report âBeyond the Horizon: View of the Emerging Energy Value Chainsâ, the American Bureau of Shipping (ABS) explains thatâŠ
China Aims to Build More than Half the World's Cleaner-fuel Ships by 2025
China has set itself the goal of producing more than half of the world's ships powered by cleaner fuels by 2025, in guidelines published by the industry ministry on Thursday.It did not give any estimates of the number of ships involved.
"Green" Loan Secured for Low-Emission Cruise Ship
Fincantieri signed a "green" construction loan for a maximum amount of $461m with Intesa Sanpaolo (IMI Corporate & Investment Banking Division) and Cassa Depositi e Prestiti (CDP), the proceeds of which will be used to cover the financial needs linked to the construction of the Mein Schiff Relax, the first of two newly designed dual-fuel inTUItion class cruise ships (Liquid Natural Gas - LNG and Marine Gas Oil - MGO) that Fincantieri is building for TUI CruisesâŠ
SHI Stops Making Blocks for Russian Shipyard's LNG Carriers
Samsung Heavy Industries (SHI) said on Tuesday it has stopped making blocks and equipment for 10 out of 15 Arctic LNG carriers contracted with Zvezda.Samsung has been delivering blocks and equipment for five of them to Zvezda, the Russian shipyard that is assembling the carriers, after receiving South Korean government approval.Samsung is nearing the end of making the blocks and equipment for the five ships, a Samsung spokesperson said on Tuesday.For the remaining 10 ships, Samsung has stopped m
Foreign Shareholders Suspend Participation in Russia's Arctic LNG 2 Project
Foreign shareholders suspended participation in the Arctic LNG 2 project due to sanctions, renouncing their responsibilities for financing and for offtake contracts for the new Russian liquefied natural gas (LNG) plant, the daily Kommersant reported on Monday.The project, seen as a key element in Russia's drive to boost its LNG global market share to 20% by 2030 from 8%, was already facing difficulties due to U.S.
Lack of Arctic Tankers Puts Russia's LNG Development Dreams on Ice
Russia is hoping its shipments of liquefied natural gas (LNG) will offset a sharp fall in pipeline gas exports to Europe, but a shortage of gas tankers and sanctions hold back its plans, analysts and industry sources said.Russia wants to boost its share of the LNG market to 20% by 2030 from 8% now, but a force majeure declaration by top producer Novatek over LNG supplies from its future Arctic LNGâŠ
Capital Product Partners Move Forward with $3.1B Acquisition of 11 LNG Carriers
New York-listed shipowner Capital Product Partners L.P. (CPLP) has closed the umbrella agreement from November 2023, moving forward with the $3.1 billion acquisition of 11 newbuild LNG carrier vessels.CPLP entered into umbrella agreement with Capital Maritime & Trading Corp. and Capital GP on November 13, providing for the acquisition of 11 newbuild liquefied LNG carriers.Upon the closing of the umbrella agreement on ThursdayâŠ
New Fortress Energy Takes Delivery of Energos Celsius FSRU
Seatrium has delivered a floating storage and regasification unit (FSRU) Energos Celsius to New Fortress Energy (NFE), one of the worldâs leading LNG project developers.Energos Celsius is owned by Energos Infrastructure, a global marine infrastructure platform backed by Apollo funds and NFE, and the vessel is on long-term charter to NFE in Brazil.The FSRU was completed on time and within budget, and has departed the Seatrium shipyard for Brazil.It will subsequently be deployed at NFEâs completed
MOL Gets ClassNK Blessing for Ammonia FSRU Design
Mitsui O.S.K. Lines (MOL) has been awarded an approval in principle (AiP) by ClassNK for a design of Floating Storage and Regasification Unit (FSRU) for ammonia.The ammonia FSRU has been jointly developed by MOL and MHI Groupâs Mitsubishi Shipbuilding.Obtains AiP for Ammonia FSRU Design - A Step Toward Safe Utilization of Ammonia for DecarbonizingThe AiP gives MOL further assurances in its design and development of ammonia FSRUâŠ
As Shipping Preps to Meet Carbon Targets, Will fuels be Available?
âThe International Maritime Organizationâs (IMO) targets for the use of zero or near-zero fuels in 2030 can be met using sustainable biofuels. Many different sectors will compete for those fuels, so shipping is focusing on transitioning to alternative green and blue fuels. Today, only 1% of bulk, container, and tanker ships are prepared for using these fuels and fuel availability is low,â says Niels RasmussenâŠ
WinGD Adds Mitsui E&S Tamano Factory to Engine Building Network
WinGD has concluded an agreement with Mitsui E&S Diesel United (MESDU), part of the Mitsui Engineering & Shipbuilding group, that will see WinGD engines being built at its main Tamano works for the first time.The agreement adds considerable engine building capacity and enables WinGD to meet growing demand in a leading shipbuilding market with a reputation for delivering sophisticated, high-quality vessels.WinGD engines have previously been built only at the companyâs Aioi FactoryâŠ
NYK to Install Energy-Saving Technology on LNG-fueled Car Carriers
Japanese shipping company NYK has unveiled plans to install a Variable Compression Ratio (VCR) system on LNG-fueled car carriers in an effort to reduce greenhouse gas emissions and cut fuel costs.NYK said it will include a VCR system on LNG-fueled car carriers to be built by Shin Kurushima Dockyard, with the first vessel scheduled for delivery in 2026.The system is said to be able to adjust the airâŠ
Some LNG Carriers Avoiding the Red Sea as Attacks Increase
Several liquefied natural gas (LNG) vessels have changed their courses in recent days to avoid the Red Sea region amid maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.The Red Sea is linked to the Mediterranean by the Suez Canal, creating the shortest shipping route between Europe and Asia, and is connected to the Gulf of Aden by the Bab-el-Mandeb strait between Yemen and Djibouti.
How Could Red Sea Attacks Affect Oil and Gas Shipping?
Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world's main East-West trade route, following attacks launched by Yemen's Houthi group on commercial ships at the southern end of the Red Sea.The attacks raised the specter of another bout of disruption to international commerce following the upheaval of the COVID pandemic, and prompted a U.S.-led internationalâŠ