Although it fully supports the shipping industry’s move to decarbonisation, the International Union of Marine Insurance (IUMI) said that adequate risk management provision must be in place to underpin the transition. New fuel types such as ammonia and hydrogen are being promoted and their use will need to be properly
Russian natural gas producer PAO Novatek and the Japanese government have signed a memorandum of cooperation on ammonia, hydrogen and carbon capture, utilization and storage (CCUS). The agreement between Novatek and the Ministry of Economy, Trade and Industry of Japan was signed on 2 September as part of the Eastern Economic Forum
According to data from the Energy Information Administration (EIA), LNG exports from the U.S. increased this week, boosting Henry Hub prices. Courtesy of Cheniere According to the latest Short-Term Energy Outlook, EIA reports that U.S. LNG exports climbed week over week. The report period 26 August to 1 September 2021,
TechnipFMC is selling 7.6 million Technip Energies shares through a private sale transaction with HAL Investments, the Dutch investment subsidiary of HAL Holding. The sale price of the shares in the sale is set at €11.15 per share, yielding total gross proceeds of €196.2 million. Upon completion of the sale,
South Korean shipyard Hyundai Samho Heavy Industries has delivered Greek shipowner Latsco the second LNG vessel Hellas Athina. Courtesy of Latsco The LNG carrier departed the Hyundai Samho Heavy Industries shipyard in Mopko, according to ship-tracking data The delivery comes after the ship wrapped up its sea trials at the
Japanese shipper Mitsui O.S.K. Lines (MOL) has signed a deal with Russia’s state-owned leasing company GTLK to buy stakes in two large floating storage units (FSU). Illustration only; Courtesy of Novatek MOL wants to buy a total 49 per cent shares of the floating storage units owner companies. Currently, GTLK
Japan’s shipping heavyweight Mitsui O.S.K. Lines (MOL) has revealed that its LNG-powered tugboat Ishin was supplied with carbon-neutral liquified natural gas LNG (CNLNG) for the first time. The vessel, which is operated by MOL Group company Nihon Tug-Boat, received the fuel from Osaka Gas Co. and Daigas Energy Co. using the
Russia’s Zvezda shipyard held a keel-laying ceremony for a new LNG-fueled MR tanker ordered by the country’s largest shipping company Sovcomflot (SCF). Courtesy of Sovcomflot Sovcomflot ordered the new 51,000-deadweight tonnage MR product carrier to transport gas condensate in the Baltic. The ship, an LNG-fueled MR tanker, is under a
Florida-based marine solutions, transportation and logistics company Crowley Maritime Corporation has signed a long-term time charter with Shell NA LNG for the building and operation of a new LNG bunker barge. As disclosed, the 126.7-meter-long barge will offer a capacity of 12,000 cbm (3.17 million gallons) and product supply equipment
The world’s most powerful cutter suction dredger (CSD) Spartacus is currently working on the Abu Qir Port project in Egypt – the largest ever dredging and land reclamation contract in DEME’s history. Photo by Jean Goderis, Water boss bij DEME Group According to the Belgian giant, this project includes the reclamation of 1,000 hectares