Russia's Zvezda Shipbuilding Complex has awarded the contract for the LNG carriers for the Arctic LNG 2 project to Samsung Heavy Industries (SHI). The South Korean company will also provide technical specifications and design documentation for the LNG carriers project.SHI will design LNG ships with 45 MW power capacity, enabling the safe transportation of LNG while breaking up to 2.1 meters of ice -52°C weather conditions…
A Chinese oil survey vessel that has been embroiled in a tense standoff with Vietnamese vessels in the South China Sea left Vietnamese-controlled waters on Thursday after more than three months, marine data showed.The Chinese vessel, the Haiyang Dizhi 8…
Fuel flexibility and technologies to bridge changing fuel usage have been identified in the Maritime Forecast to 2050 as essential strategies for both individual owners and the shipping industry to adapt to the energy transition and prepare for a low carbon future…
Texas-based LNG terminal operator Freeport LNG Development announced that it has shipped the first LNG commissioning cargo for Train 1 from its liquefaction facility located on Quintana Island in Freeport, Texas.Approximately 150,000 cubic meters of LNG were loaded aboard the LNG Jurojin…
In spite of low gas prices due to ample LNG supply growth and muted demand so far in 2019 spot shipping rates have gradually increased over the last few months and are currently about USD 70,000 per day on average, said Awilco LNG Group.According to Norwegian LNG transportation provider…
Voyager, a company offering a solution to the bulk commodity shipping market to operate in a unified and digital environment, announced completion a $1.5 million seed funding round co-led by ATX Venture Partners, Blue Bear Capital, GreenHawk Capital…
Houston pipeline operator Kinder Morgan (KMI) plans to invest $170 million in various expansion projects along the Houston Ship Channel.The investment will increase efficiency, add product liquidity, and enhance blending capabilities at its Pasadena and Galena Park terminals…
Jumbo reports completion of a shipment of the 'heaviest, tallest and the largest diameter 'Transition Pieces (TP’s) it has ever transported.The TP’s were shipped for Jan De Nul Group in cooperation with brokers Multi Marine Chartering B.V. from Laem Chabang to Taichung…
A Chinese survey ship returned to Vietnam's exclusive economic zone off its coast on Tuesday, ship tracking data showed, less than a week after it left the area where vessels from the two countries were locked in a month-long standoff.The Haiyang…
The last of 15 Arc7-classed tankers ordered for the liquefied natural gas (LNG) production plant Yamal LNG in Russia's Arctic north are undergoing sea trials around a South Korean shipyard, Refinitiv Eikon shipping data showed on Monday.The…
French family-owned maritime transportation group Louis Dreyfus Armateurs (LDA) is venturing into wind-powered shipping as the group sees the benefits of operational savings and a need for decarbonisation.LDA Group has become the latest member…
Dutch gas prices hit 10-year lows this week, reflecting high European inventories swelled by liquefied natural gas (LNG) imports, testing levels at which companies that committed to buy U.S. LNG will start making serious losses.Prices for month…
Infrastructure continues to expand, and pricing incentives will continue to shift as the market matures. The LNG markets look like they may resemble the clean product tanker market in several years, which is highly arbitrage driven. We look…
Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30…
The United States and its allies may need to to start escorting commercial vessels to prevent further attacks in Gulf oil shipping lanes, Gulf sources and experts said.Even then, the conventional naval and air capabilities of Western and Gulf…
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