International Seaways has contracted V.Group to manage three of its dual-fuel very large crude carriers (VLCCs) currently under construction in South Korea. The LNG-fuelled VLCC trio, which is being built by Daewoo Shipbuilding & Marine Engineering (DSME), will join V.Group’s fleet management and will be employed on long-term charters with supermajor Shell. In addition to
US LNG project developer NextDecade has signed a 20-year sale and purchase agreement (SPA) with compatriot energy major ExxonMobil for the supply of LNG from NextDecade’s Rio Grande LNG export project in Texas. Under the SPA, EMLAP will buy one million metric tonnes per annum (mtpa) of LNG. The LNG will come from the first
Climate change Minister Chris Bowen has introduced the government’s climate change bill and said he wants Australia to be a renewable energy powerhouse. The minister introduced the Climate Change Bill to parliament, which if approved would commit the federal government to cut greenhouse gases by 43 per cent from 2005 levels by 2030. Greens leader
In this present competitive era, there is immense need to enhance the practical overhauling and troubleshooting skills in various auxiliary machinery such as pumps, purifiers, compressors, engines, boilers, refrigeration etc., and Hydraulic Equipment is no exception! Based on the encouraging response from the Inaugural Course held in July 2020 followed by 2nd course in December
Of late, governments across the world are aggressively considering and unveiling plans to bring in to force sustainability initiatives and decarbonization targets to realize net-zero emissions by 2050 or before. A majority of the nations which have committed to achieve carbon neutrality by 2050 target date are smoothly moving forward on that path. Innovative and technological-driven ideas
The joint study conducted by German consultancies OCEANS ONE and GMW finds that bunker costs for alternative fuels will be significantly higher with biofuels. The consultancies penned a detailed report on expected bunker costs for the largest boxships afloat, the 24,000 teu so called megamaxes. The study predicted that the costs world be four times
Three Malaysian shipbuilding and ship repair players have teamed up with a Singapore-based ship designer to build an environmentally friendly offshore supply vessel (OSV) in Malaysia. The agreement was signed between Grade One Marine Shipyard (GOMS), Muhibbah Marine Engineering (MME) and Shin Yang Shipyard (SYS) and Singapore’s Evolution Concepts for the construction of what has
Nippon Yusen Kaisha (NYK) have started a test navigation using Neste renewable diesel (NesteRD) supplied by Itochu Enex in tugboats operated by subsidiary Shin-Nippon Kaiyosha. This is the first case in Japan of a 100% concentration of biodiesel being used in a ship. NesteRD is a 100% renewable fuel product that is manufactured from waste
S&P Global Commodity Insights has announced that it will introduce daily Platts price assessments for freight emissions under the European Union’s Emissions Trading System (ETS). The new assessments will show the cost of carbon dioxide emissions from fuel combustion to transport crude or fuel oil on an aframax tanker via an initial four European shipping
Cyprus-based MSC Shipmanagement has signed a framework agreement with London-listed alternative-fuels company Quadrise Fuels International to trial its emulsion fuel and glycerine-based marine biofuel. As per agreement MSC Shipmanagement will carry out proof-of-concept tests and operational trials using Quadrise’s bioMSAR and MSAR fuels on one or more container vessels, with the final aim of commercialising