MOL orders LNG newbuild from Samsung

Japanese shipowner Mitsui OSK Lines has returned to Samsung Heavy Industries with an order for one more LNG carrier. In an exchange announcement last week, the South Korean shipbuilder said it had received the order from an Asian owner without naming the company behind the vessels. Brokers have placed MOL behind the deal worth around

World’s first LNG-fuelled panamax commences operation

The world’s first LNG-fuelled panamax bulk carrier has started operating. The coal carrier, owned by Nippon Yusen Kaisha (NYK) and on charter to Kyushu Electric Power (Kyuden), was built at Oshima Shipyard and is called Shoyo. The ship’s first LNG bunkering took place yesterday. LNG is shipping’s top alternative fuel today, with methanol beginning to

Himalaya Shipping inks charter deals for LNG newbuilds

Bermuda-based bulk carrier company Himalaya Shipping has signed time charter agreements for two of its LNG dual-fuel vessels currently under construction at New Times Shipyard in China. According to the company, the vessels will commence a two-year time charter with “an evergreen structure” upon delivery from the shipyard in the first half of 2024. The

Seaspan, AES sign MoU to collaborate on LNG bunkering

In a significant advance for the regional Liquefied Natural Gas (LNG) industry, Seaspan and AES, sign a Memorandum of Understanding (MoU) that contributes to the development of sustainable energy solutions for the maritime industry. In the framework of the 3rd International LNG Global Forum, held in Cartagena, Colombia, Seaspan has signed a Memorandum of Understanding

Seaside LNG joins SEA-LNG coalition

Seaside LNG, an LNG production and maritime transportation logistics provider, announced its industry support of SEA-LNG, the multi-sector industry coalition established to demonstrate the benefits of the LNG pathway for shipping’s decarbonization. Seaside LNG is the only company with integrated shoreside liquefaction, LNG storage, and bunkering capabilities in North America. The company maintains the largest

JV to develop first LNG ship bunkering hub

A joint venture is developing the first dedicated liquefied natural gas (LNG) bunkering facility for ships in the U.S. Gulf amid efforts by the maritime industry to find cleaner fuel solutions. Shipping, which accounts for nearly 3% of global CO2 emissions and is under pressure from investors and environmental groups to accelerate decarbonisation, is exploring

Saudi Aramco announces first global LNG deal

Saudi Aramco announced its first global investment in liquefied natural gas, part of a broader bid by the energy giant to expand beyond oil. The company seen as the jewel of the Saudi economy said it would acquire a minority stake worth $500 million in MidOcean Energy, which is managed by the US investment firm

Can reversal of fortunes position shipyards for decarbonisation

The current newbuilding cycle is proving remarkably persistent, with demand for containerships and LNG carriers consistently exceeding expectations over the last year. MSI’s Q3 shipping market reports illustrate how the upward pressure on newbuilding prices has been maintained. Although there was a divergence in the rate of increases between different ship types last year, prices

MOL orders more LNG-powered car carriers

Japan’s shipping giant MOL has ordered two more LNG-powered car carriers at compatriot Nihon Shipyard. A spokesperson for MOL confirmed the order to LNG Prime for two LNG-powered vessels with a capacity of 7,000 units. MOL now has six LNG-powered car carriers with a capacity of 7,000 units at Nihon, the spokesperson said. The spokesperson

CMA CGM, Maersk join forces to accelerate the decarbonization

A.P. Moller – Maersk A/S (Maersk) and CMA CGM have decided to join forces on several areas relating to decarbonization, in full compliance with all laws and regulations. As frontrunners of the energy transition in shipping, both companies are convinced that joint action will help accelerating the green transition in shipping, learning from each other