MOL orders four LNG-fueled ships

Japanese shipping company Mitsui O.S.K. Lines (MOL) has reached an agreement with compatriot Nihon Shipyard and Shin Kurushima Dockyard for the construction of four 7,000-unit capacity car carriers that will use environment-friendly liquefied natural gas (LNG) as their main fuel. The newly ordered ships are scheduled for delivery in succession, from 2024 to 2025. This

NYK inks fourth LNG contract with EDF

Japan’s Nippon Yusen Kaisha (NYK), via its subsidiary France LNG Shipping, has concluded a fourth LNG carrier long-term charter with France’s EDF LNG Shipping. A ship order has been placed with South Korea’s Hyundai Samho Heavy Industries. The 174,000 cu m ship will deliver in 2025 and will fly the French flag. No prices for

CNOOC awards 12 LNG carriers construction contract

China National Offshore Oil Company (CNOOC) has awarded 16 billion yuan ($2.42 billion) worth of contracts to build 12 liquefied natural gas tankers. China is the world’s largest buyer of the super-chilled gas, while CNOOC is the country’s largest importer of the fuel and among the state majors leading a drive to expand their LNG

SK Gas inks US LNG deal with Energy Transfer

South Korea’s SK Gas Trading will purchase 0.4 million tonnes per annum (mtpa) of LNG from Energy Transfer’s Lake Charles LNG export facility in the US under a newly inked agreement. Unveiling details of the agreement on the duo said the deal has been agreed for a term of 18 years, with the first deliveries

Sharp rise in LNG-fuelled ships in 2022

The latest figures from DNV’s Alternative Fuels Insight (AIF) platform show an increased take-up of LNG-fuelled newbuilding contracts over the first four months of this year, compared with the corresponding period of 2021. Large ships to be powered by the fuel drove orders over the first four months to a total of 121, according to

NYK inks charter contact with CNOOC for six new LNG carriers

Japan’s Nippon Yusen Kaisha (NYK) has gone to Shanghai for its latest expansion of its LNG fleet, inking orders for six 174,000 cu m vessels with CSSC Hudong-Zhonghua Shipbuilding worth a combined $1.26bn. China National Offshore Oil Corporation (CNOOC) will take the vessels on long term charter with delivery dates stretching all the way out

Seminar -The rise of methanol as future proof fuel

A seminar was organised by Sea Commerce Consulting and Institute of Marine Engineers of India (IMEI) with support from FedCom, Methanex Corporation, Methanol Institute, along with the classification societies ABS and IRS on April 29, 2022 at Banquet Hall MCA, at Bandra in Mumbai. It was a hybrid event conducted with title “The rise of

Europe’s LNG imports soaring  

Europe is importing record volumes of liquefied natural gas (LNG) as it looks to cut as much Russian gas consumption as soon as possible. Unlike in previous years, Europe is now the most attractive destination for global LNG flows, outbidding Asia for spot supply as prices and demand in Europe have soared after the EU’s

Europe could face a sharp slowdown of growth with Russian gas cut-off

Russia’s suspension of natural gas service to Poland and Bulgaria will not do immediate damage to the European economy, but Europe could face a sharp slowdown of growth if the cutoff spreads to other countries — or if Europe imposes an embargo on Russian gas. Russia’s war on Ukraine is already rippling through Europe, lashing

Germany top buyer of Russian energy

Germany was the biggest buyer of Russian energy during the first two months of the war in Ukraine, an independent research group said. A study published by the Centre for Research on Energy and Clean Air calculates that Russia has earned 63 billion euros ($66.5 billion) from fossil fuel exports since Feb. 24, the date