LNG Market Recovers in Q2, Says Flex LNG
During the second quarter 2019, spot liquefied natural gas (LNG) freight rates stabilized and started gradually to recover, says Flex LNG, the owner of LNG carrier vessels and floating storage regasification units (FRSUs).Unseasonably slow demand in Asia over the winter due to fewer heating days caused by warmer weather, and cooler weather than normal in key demand areas early in the summer coupled with ample supply growth from new liquefaction continued to weigh on global LNG prices.The on-going trade dispute between the U.S. and China is adversely affecting Chinese procurement from the US…
LNG Rates Hit Record in 4Q: Flex LNG
During the fourth quarter ended December 31, 2018, spot LNG rates reached record levels as market players were positioning themselves ahead of the winter season, said Flex LNG.According to the UK-based provider of LNG Shipping with a focus on LNG Carriers and FSRUs (Floating Storage Regasification Units), due to a combination of higher temperatures meaning fewer heating days, liquidation of approximately 30 vessels utilized for floating storage the freight rates for LNG has slumped during first quarter of 2019 and also resulting in lower general fleet…
INPEX Selects NAPA for LNG Carrier Fleet
Japan's largest oil and gas exploration and production company INPEX Corporation has installed ClassNK-NAPA GREEN for monitoring operations on three of its liquefied natural gas (LNG) carriers.NAPA said that Inpex awarded a deal to the company for the provision of a solution for monitoring and follow-up of ship operations on two LNG carriers built to service the Ichthys project and one LNG carrier for Shell’s Prelude FLNG project.With the core motivation of accurately verifying the technical performance of these highly complex carriers, INPEX chose ClassNK…
IEA Calls for Enhancing Global Natural Gas Security
The evolution of the global natural gas market, which has been driven by the growth in liquefied natural gas (LNG) demand, continues to change the relationship between buyers and sellers, and raises new challenges for the global security of energy supplies.Global natural gas markets are being reshaped by the development of major emerging LNG buyers led by China, and the rising production and exports from the United States. The third annual edition of the International Energy Agency’s Global Gas Security Review provides an in-depth analysis of recent security-related issues and lessons learned.China’s supply shortfall over the last winter…
Keppel Partners GTT on LNG Solutions
Keppel Offshore & Marine (Keppel O&M) has signed a Technical Assistance and License Agreement (TALA) with Gaztransport & Technigaz (GTT) that will enable the companies to jointly market liquefied natural gas (LNG) solutions leveraging GTT's membrane containment systems and Keppel's shipyard expertise.Keppel O&M's network of global yards will be able to offer GTT's LNG systems in the design, construction and maintenance of LNG carriers, LNG Bunker vessels, LNG-fuelled vessels, and floating storage and regasification units (FSRU).Since completing its first LNG carrier repair in 1990…
BP’s LNG Carrier Fleet is Growing
BP said it will take delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers in 2018 and 2019 to support its expanding global LNG portfolio. BP’s finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers. The vessels will join BP’s exixting fleet to help service a 20-year liquefaction contract with the Freeport LNG facility in Texas, as well as other international LNG projects in BP’s global portfolio. “These vessels will significantly increase BP’s ability to safely transport LNG to anywhere in the world, directly supporting BP’s global natural gas strategy,” said BP Shipping CEO Susan Dio.
MOL Makes Fleet-wide Migration to Fleet Xpress
26 July 2016: Inmarsat (LSE:ISAT.L), the leading provider of global mobile satellite communications services, has announced that its partner JSAT MOBILE Communications has signed an agreement with Mitsui O.S.K. Lines (MOL), one of the world’s largest shipping companies, to introduce the newly-launched Fleet Xpress service across the majority of its car carrier fleet. Existing Inmarsat customer MOL says migrating its car carriers to always-on, high-speed broadband connectivity will be pivotal in its continuing drive towards ‘smarter and greener shipping’ operations. MOL has long been convinced that the environmental performance of its ships offers a competitive advantage.
First LPG Carrier Order for MHI Shipbuilding
Mitsubishi Heavy Industries Shipbuilding Co., Ltd., a group company of Mitsubishi Heavy Industries, Ltd. (MHI), announced it has received an order from Astomos Energy Corporation for a very large liquefied petroleum gas (LPG) carrier. The order marks the very first to be received by Mitsubishi Heavy Industries Shipbuilding since the company's launch on October 1. The LPG carrier on order is identical to the four vessels Astomos Energy has already ordered to MHI since 2013. According to the builder, the ship will provide a high level of energy-saving performance…
ABS Approves GTTNA’s LNG Bunker Barge Design
Houston-based GTT North America (GTTNA), U.S. subsidiary of French engineering and technology company Gaztransport & Technigaz SA (GTT), has received approval in principle (AIP) from ABS for the design of a 2,200 cubic meter liquefied natural gas (LNG) bunker barge. The distinctive design incorporates GTT’s proven membrane Cargo Containment System (CCS), which is utilized in 70% of the global LNG carrier fleet and nearly 90% of LNG carrier projects on order. Leveraging over five decades of LNG storage and maritime transportation experience, GTT developed the membrane LNG bunker barge to demonstrate the efficient storage of LNG and safe…
