Global Shipyards Launch Alliance to Accelerate Maritime Sustainability

Drydocks World has joined forces with four other leading shipyards across Europe and Asia to establish the Global Green Shipyard Alliance (GGSA), a new coalition focused on promoting clean technologies and environmental, social, and governance (ESG) standards in the maritime sector. The alliance brings together Drydocks World (UAE), Astilleros Shipyard Group (Spain), BREDO Dry Docks

LNG exports grow at slowest pace since 2015

Global liquefied natural gas exports grew at the slowest pace since 2015, threatening to keep prices elevated until new supply comes online to meet rising demand. Annual LNG shipments are set to rise 0.4% to roughly 414 million tons this year. Delays to US projects and sanctions against Russia’s newest facility curbed new supply into the market.

Saudi Arabia may cut Asia’s January crude prices

Top oil exporter Saudi Arabia is expected to slash crude prices for Asian buyers in January to the lowest in years, largely tracking a slump in Middle East benchmark prices last month, traders said. The January official selling price (OSP) for flagship Arab Light may fall by 70 to 90 cents a barrel from December

At the expense of Russia, Saudi Arabia increases its share of crude oil in Asia

In November, Russia gave up some of its barrels of crude oil, which could be a precursor to a change in market dynamics, while Saudi Arabia regained market share of Asia’s imports. According to data published by LSEG Oil Research, Asia’s imports from Saudi Arabia, the largest crude exporter in the world, increased from 5.28

Goldman warns of a possible increase in the price of Asia LNG

If the supply of gas in Europe tightens this winter, liquefied natural gas prices in Asia might rise to more than $20 per million British thermal units (mmBtu), according to Goldman Sachs report. According to Goldman Sachs, Europe and Asia will have less access to LNG next year than anticipated due to delays in the

As European benchmarks increase, Asian LNG soars to its highest level this year

Due to heightened competition from Europe for the fuel used in power plants and heating systems, spot LNG prices in North Asia surged to their highest level of the year. According to traders, the Japan-Korea marker, which serves as the region’s benchmark, increased to roughly US$15.3 per million British thermal units on Thursday, November 21,

Methanol-powered container ship now in regular service

Maersk has deployed its latest and largest methanol-powered ship on the transoceanic weekly route between the Port of Gothenburg and Asia. This means that the Port of Gothenburg now has two methanol-powered container ships that regularly call at the port. The new ship, Antonia Maersk, with a cargo capacity of 16,592 TEU (twenty-foot equivalent units),

Shipment of refined fuels to EU markets slows in May

Indian refiners’ usage of petroleum vessels to ship refined fuels such as diesel to key European markets has actually diminished in May after volumes neared two-year high levels last month. Since rising inventories in the, that is Antwerp-Rotterdam-Amsterdam area and shaky east-west diesel cost spreads undermine the case for sellers to ship big volumes of

PLAGEN will develop the green methanol in Asia with BFI

PLAGEN is promoting a clean methanol production project utilizing biomass waste with Indonesia’s BFI. On the 13th, the two companies signed a business agreement to supply raw materials and invest funds for the clean methanol production project at the KORINDO Group in Jakarta, Indonesia. The ceremony was attended by PLAGEN CEO John Kyung, Vice President

Monjasa expands its fleet in Asia  

The company, which supplies 1m tonnes of marine fuels across Asia each year, has already deployed one tanker to service Singapore, and two further ships are expected to join later this year.