Mexico to build LNG hub

Mexico plans to build an LNG export hub worth between $4 billion and $5 billion in the Gulf of Mexico that will help serve European demand. The planned LNG facility in the port of Coatzacoalcos, in the eastern state of Veracruz, would transport gas by boat to Europe. Mexico does not yet commercially export LNG,

Gas crisis puts LNG cargo trade concentrated in major traders’ hands

Increasing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses. This grip is not expected to ease until 2026 when more liquefied natural gas (LNG) starts to materialise and lower prices, adding to supply worries for

Carbon Ridge startup gets investment from Crowley and Berge Bulk

US-based onboard carbon capture startup Carbon Ridge has raised $6m in funding from several investors including compatriot shipping and logistics company Crowley and Singapore-based owner Berge Bulk. The funding round, led by the Grantham Foundation for the Protection of the Environment and which also included Rusheen Capital Management and Plug and Play Ventures, will enable

LNG-fueled ships risk losses of $850bn by 2030

The world’s rapidly growing fleet of ships that can run on liquefied natural gas (LNG) are at risk of financial losses of $850bn by 2030, according to a new study by UCL Energy Institute researchers. The study, released at the Marine Money conference during New York Climate Week, found that, if policies that incentivise shipping

Germany to sign LNG contracts in UAE

German Chancellor Olaf Scholz was expected to sign contracts for liquefied natural gas (LNG) during his visit to the United Arab Emirates (UAE), Economic Affairs and Climate Action Minister Robert Habeck said. Habeck was touring Lubmin, where the construction of one of Germany’s new liquefied natural gas (LNG) terminals was set to start. The construction

EPS orders LNG-fuelled containerships

Singapore-based Eastern Pacific Shipping (EPS) has sealed a long-term charter deal with US shipping and logistics company Crowley for four LNG-fuelled newbuild containerships. The 1,400 teu vessels will be built by Korea’s Hyundai Mipo Dockyard and deliver in 2025, expanding Crowley’s fleet and supply chain capabilities connecting US markets to Nicaragua, Honduras, Guatemala and El

Gas and Heat gets AiP from BV for LNG and ammonia transport

French classification society Bureau Veritas (BV) has awarded approval in principle (AiP) to Gas and Heat (GH), an Italian designer of liquefied gas handling systems, for its flexible solution for the transport of LNG and ammonia. BV supported the company in demonstrating that IMO Type C cargo/fuel tanks made of austenitic steel with a special

Wärtsilä 25 engine introduced for maritime decarbonization

The technology group Wärtsilä introduces its new Wärtsilä 25 medium-speed 4-stroke engine. Based on Wärtsilä’s highly successful modular technology platform, this latest addition to the company’s engine portfolio is designed to accelerate and support the maritime sector’s efforts in achieving decarbonised operations. The Wärtsilä 25 engine’s modularity offers shipowners and operators maximised flexibility, while the

Alfa Laval gets nod for ammonia testing

Alfa Laval is gearing up to start testing with ammonia at its Test & Training Center in Aalborg, Denmark. With the necessary approvals granted, Alfa Laval aims to have installation of the testing setup completed by the end of the year. The center will then be able to work with all the fuels under consideration

New LNG carrier design offers CO2 emissions reduction

A new design for a liquified natural gas (LNG) carrier has been revealed by a new partnership promising a significant reduction in greenhouse gas emissions and operational cost. In collaboration with Moss Maritime, Fearnley LNG and DNV, Siemens Energy has developed a vessel that will be powered by a hybrid combined-cycle power and propulsion plant