China’s Hudong-Zhonghua Shipbuilding has started building the second liquefied natural gas bunkering vessel owned by Japan’s MOL and chartered by Total of France. Image courtesy of Hudong MOL’s first LNG bunkering ship, the world’s largest such vessel, was delivered on Thursday. Both of the vessels will have a capacity of
Australia’s largest LNG player Woodside expects low oil and gas prices to continue for the rest of 2020 and into next year due to the Covid-19 coronavirus pandemic. Pluto LNG (Image courtesy of Woodside) Cripling worldwide demand caused by the Covid-19 restrictions has seen oil, gas and LNG prices at
China’s Hudong Zhonghua shipyard has delivered the first LNG bunker vessel Total chartered from MOL to serve its CMA-CGM supply deal. Image courtesy of Hudong Zhonghua The shipyard noted that the vessel is currently the world’s largest LNG bunkering ship with an 18,600-cbm capacity. The 135-meter long vessel is the
Oil major Shell has decided to slash its dividend after seeing its quarterly profit nearly halved when compared to the last year’s quarter amid a dramatic decline in oil price. Shell CEO Ben van Beurden; Source: Shell Shell said on Thursday that its CCS earnings attributable to shareholders excluding identified
Origin Energy saw lower quarterly revenue from the Australia Pacific LNG project but it managed to renegotiate a crucial supply deal with China’s Sinopec. Image courtesy of ConocoPhillips Origin Energy, which holds a 37.5 per cent stake in the APLNG project, said Thursday the first price review under Sinopec’s long-term
Saga LNG Shipping’s newbuild, the 45,000-cbm Saga Dawn has completed its maiden voyage on Wednesday. Image courtesy of Saga LNG Shipping The vessel that loaded at cargo at Singapore LNG delivered the load to JOVO’s Dongguan terminal on April 29. The company noted in its statement that the vessel is
Work has started on a regasification module that will be installed onboard El Salvador’s first floating and regasification unit. Image courtesy of BW LNG Once completed, the Wartsila module will be installed onboard Shell’s 2002-built LNG carrier Gallina that will be converted to an FSRU. A steel cutting ceremony to
Russia’s largest private natural gas producer and LNG player Novatek slipped into red under the COVID-19 impacts. Image courtesy of Novatek Novatek reported a net loss of ₽30.7 billion ($416.8 million) in the first quarter of the year. This compares to a profit of ₽381.8 billion ($5.2 billion) reported in
Chinese shipbuilding giant China State Shipbuilding Corporation (CSSC) has won a deal for the construction of twelve dual-fuel tankers. The order was booked by Bank of Communications Financial Leasing (Bocomm Leasing) which has secured charters for the newbuilds from the energy major Shell. Source: CSSC Shell will charter the 120,000-ton
Russian gas giant Gazprom reported a 17 percent drop in 2019 net profit due to lower prices and declining demand in Europe. Image courtesy of Gazprom Gazprom’s net profit reached 1.2 trillion Russian roubles ($16.3 billion) last year. This compares to 1.46 trillion roubles in 2018. Operating profits also fell
