Wavelength bags methanol fuel supply contract

Wavelength Technology Center, a Portugal-based energy and tech company, has secured a contract for a methanol marine fuel supply system. The company has been awarded the engineering supply contract to design a methanol fuel supply system for marine engines. The system will be installed at an undisclosed engine manufacturing site in China. Furthermore, it will

J-Eng completes world’s first UEC33LSH-C2 type main engine

The world’s first 6UEC33LSH-C2 type main engine, developed by Japan Engine Corporation (J-ENG), was completed by Zhejiang Yungpu Diesel Engine Co., Ltd. (YDE) located in Ningbo, China, for the first time as its overseas licensee. This first 6UEC33LSH-C2 type main engine will be equipped on a coastal bulk carrier built by Yizheng Yangzi Shipbuilding Industry

DSME and Samsung add $2.6 bn LNG carriers

Daewoo Shipbuilding & Marine Engineering Co. (DSME) and Samsung Heavy Industries Co. each added 2.37 trillion won ($1.7 billion) and 1.17 trillion won worth contracts to their swelling order book for liquefied natural gas (LNG) carriers, upping the chance of South Korean shipbuilders reclaiming No. 1 rank in global vessel orders this month after losing

Geely Auto secures $400m sustainable club loan for green transition

Geely Automobile Holdings Ltd (Geely Auto) has become the first Chinese automaker to secure an overseas sustainable club loan. The three-years $400 million facility will be used to support Geely Auto’s R&D of technologies and production of vehicles in new energy segment, enabling the company achieve its carbon neutrality goal by 2045. The oversubscribed club

Affluent regions in China invest more on fossil fuel

According to latest analysis by environmental group Greenpeace, Guangdong, Zhejiang and Shanghai regions in China have continued to increase the amount of money spent on fossil fuel projects. While China’s economic hubs are heeding Beijing’s order to turn away from coal, experts found that these regions are shifting to fossil gas instead. Some of China’s

Korea, China competing methanol-powered ship market

Competition is expected to intensify between Korean and Chinese shipbuilders in the methanol-powered ship market. French shipping company CMA CGM recently decided to place an order for six 15,000-TEU methanol-powered ships with Dalian Shipbuilding of China, not with a Korean shipbuilder. As the price per ship is $175 million, the entire value of the contract

China Merchants inks LNG carrier deal with Sinochem

China Merchants Energy Shipping (CMES) has landed a long-term charter agreement with Sinochem Petroleum Shipping Singapore, a subsidiary of Sinochem Energy, for three of its liquified natural gas (LNG) carrier newbuilds. The Shanghai-listed energy transport unit of China Merchants Group said the deal involves the 175,000 cu m trio built by Dalian Shipbuilding Industry Corporation

Sinopec purchases Russian crude

China’s Sinopec Corp has cut its purchases of Russia’s ESPO crude oil in July as other buyers, including from India, were willing to pay higher prices. Sinopec bid at discounts of about $20 a barrel below the price of Middle East benchmark Dubai on a free-on-board basis for July shipments, similar to what it paying

Gazprom cannot guarantee gas deliveries to Europe

Russia’s Gazprom says it cannot guarantee natural gas deliveries to European customers – as its exports to China hit an all-time high. Russia’s Gazprom has tried to claim “force majeure” — or an act of God — in its natural gas contracts with European buyers. Force majeure clauses allow parties to be released from their

Chinese carbon market shows great progress in the world

The cumulative trading volume of the carbon market reached 194 million tons in China, with a cumulative turnover of 8.49 billion yuan ($1.26 billion). Carbon emissions by 2,162 power companies were covered in the first batch of trading, with a total emission of about 4.5 billion tons in one year. One year on, the carbon