Following highs in January and February of 2021, Japanese spot liquefied natural gas (LNG) prices plunged in March. Courtesy of JERA Data from Japan’s Ministry of Economy, Trade and Industry shows that the price of spot LNG contracted during March 2021 reached $6.6 per mmBtu. This is well below the
French shipping and logistics giant CMA CGM is launching the first low-carbon shipping offer based on biomethane that supports the group vision to become carbon-neutral by 2050. Image Courtesy: CMA CGM As of May 2021, the CMA CGM’s customers will be able to select biomethane via the Act with CMA CGM+
American global hydrogen supplier Air Products & Chemicals has unveiled a new hydrogen fueling station at its industrial gases facility in Ulsan City, South Korea. Courtesy of Air Products This is the the first station built and operated by the private sector in the city under the South Korea government’s
The Norwegian unit of energy giant Shell has sold its downstream LNG subsidiary Gasnor to Spain’s Molgas Energy. Courtesy of Navingo The transaction transfers Norske Shell‘s complete shareholding in Gasnor to Molgas. The sale of Gasnor has no effect on the operations or organization of Norske Shell. All of the
Lithuanian Klaipėdos Nafta has announced a consultation with market participants regarding the acquisition of floating storage and regasification unit (FSRU) for the Klaipėda LNG terminal. Courtesy of Port of Klaipeda The consultation, as part of the procurement process for FRSU, has the goal to familiarise market participants with the process
A new ShippingLab project aims to create an internationally recognized platform for testing and validating new fuel solutions that can aid in significantly reducing or eliminating greenhouse gas (GHG) emissions from the shipping industry. As such, the purpose of the platform is to assist the global transition towards sustainable marine
German-based engine manufacture MAN Energy Solutions has begun the ‘AmmoniaMot’ project to produce a dual-fuel, medium-speed engine capable of running on diesel fuel and ammonia. Courtesy of MAN Initiated by MAN, ‘AmmoniaMot’ stands for Ammonia Engine in German, and it gathers industry partners and research institutes including the University of
South Korean ship designer and shipbuilder Samsung Heavy Industries (SHI) has received Approvals in Principle (AiPs) from three classification societies for its wind turbine installation vessel (WTIV) design. SHI’s low carbon emission ECO-WTIV (LNG Fuel + SOFC) model named SLW-FUEL CELL received AiPs from American Bureau of Shipping (ABS), DNV,
Wison Offshore & Marine has been awarded a front-end engineering and design contract for Pilot LNG’s floating liquefaction unit. Courtesy of Wison The deal was awarded by Pilot LNG to Wison Offshore & Marine’s unit, Wison Offshore Technology. Pilot LNG is developing the Galveston LNG Bunker Port (GLBP) project on
Tanker shipping company Stena Bulk has revealed a set of five dated decarbonisation targets as part of its comprehensive roadmap for becoming a net-zero business by 2050. The first of these milestones was achieved in 2020, when Stena Bulk began offering customers low-carbon shipping options with up to a 100% reduction