Tankers & Gas
Some of the most powerful voices in shipping are among the most heavily invested in liquefied natural gas as a marine fuel, but the pathway for LNG as a transitional option is far from clear. With the World Bank now urging an end to public policy support for LNG as a bunker fuel and pushing for methane emissions regulations, this month’s edition of the Maritime Markets Outlook examines the implications for those LNG cheerleaders already exposed and analyses the rapidly changing dynamics of transitional fuelling options for shipping
Higher scrapping was expected to help cut the oversupply of tankers weighing on rates
Any near-term recovery will likely to be hampered by the reduction in extraordinary factors influencing fleet availability, such as floating storage demand seen last year
Quarterly forecast from Norwegian investment bank Cleaves Securities cites significant 2022 gains
Central Group, Latsco Shipping, Maran Tankers, Athenian Sea Carriers, Capital Maritime, Navios and Samos Steamship are among the Greek owners that have arranged to get their hands on new VLCCs as prices seem headed higher and building slots dry up
If the blockage is prolonged, Wood Mackenzie expects oil product trade flows from Europe and the Mediterranean to the East of Suez to suffer a greater impact, reducing the availability of naphtha, petrochemical feedstocks and fuel oil to Asia
The product tanker owner agrees with 10 banks on its first ever syndicated sustainability-linked financing deal. Its fleet’s emissions performance will affect future margin adjustments
How quickly and effectively coronavirus vaccine is rolled out globally will determine timing of the rebalancing oil tanker market, company says
‘This is a significant impact to one of the world’s largest concentrations of olefins capacities, just under 20% of the global total, and tops recent disruption seen in August 2020 from Hurricane Laura,’ WoodMac’s analyst says
Diversions imply cargo surplus, adding further gloomy signal to depressed transatlantic tanker earnings which remain below operating expenses
Brave’s three liquefied petroleum gas carriers are all scheduled for delivery in 2023 and will cost $47m each
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.
The tanker research and consulting group believes a forecast rise in LPG shipments will also be buoyed by strong incremental growth from several smaller exporters such as Algeria, Canada and Australia in the coming years
The move for the additional three 93,000 cu m LPG carriers is the second part of a deal for three vessels signed in November last year with the Chinese shipyard and would increase Petredec’s very large gas carrier fleet to 27 ships
The Mozambique LNG project is Africa’s largest energy project with liquefied natural gas supposed to come online in 2024, but is already subject to delays
Titan LNG has questioned the the lifecycle emissions analysis available for hydrogen and ammonia, pointing out that liquefied natural gas has an established record of evidence backing up its status as an available pathway to decarbonising international shipping
Eastern Pacific’s belief in LNG-fuelled tonnage during the past few years has led the shipowner and shipmanagement company to develop a deep expertise and knowledge of the cleaner alternative fuel
Six regasification projects are now on the table for the Luzon Island, which used natural gas to meet almost 30% of its power generation needs last year
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