Astomos to ship first carbon-neutral LPG in deal with Shell
Tokyo-based importer of liquefied petroleum gas plans to ship a carbon-neutral LPG cargo from Shell in a move to comply with decarbonisation targets
Credits from Shell’s global portfolio of nature-based projects will be used to offset lifecycle CO2 emissions generated across the value chain from production to consumption and combustion, including transportation
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The transaction to form BW Epic Kosan increased the company’s fleet to 76 ships, including pressurised, semi-refrigerated and ethylene capable vessels
A combination of factors underpins the recent ordering spree, but a key feature of recent contracting is the focus on LPG-fuelled vessels and their relative efficiency
Demand growth is expected to be strong in Asia driven by both the petrochemical and retail sector and also in Northwest Europe, Poten & Partners’ LPG consultant Shantanu Bhushan said. Recovery in the oil market would mean LPG becoming more competitive relative to naphtha as a feedstock which would mean better arbitrage economics between the US and Northwest European and Mediterranean regions.
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