As the end of the quarter nears, we give you a cool quartet of updates on stories and companies in the offshore sector. We begin with a wait of over three years. Teras Ly ..
LNG
Coal and LNG Prices Surge in Asia, Time for Renewable Energy?
- Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand.
- But while welcome news for the commodity producers, the rally is a longer-term boon to their main rival, renewable energy.
- Spot LNG prices have nearly doubled since the post-winter low of $5.60 per million British thermal units (mmBtu), ending last week at $10.95.
A recent news article published in the Reuters by Clyde Russell states that Coal and LNG’s surge in Asia plays...
https://mfame.guru/coal-and-lng-prices-surge-in-asian-market-time-for-renewable-energy/
China Overtakes Japan As World’s Top LNG Buyer
China Overtakes Japan As World’s Top LNG Buyer, says an article on Xinder Marine.
World’s largest buyer
China’s rising imports of liquefied natural gas (LNG) position it to surpass Japan this year as the world’s largest buyer of the superchilled fuel, pricing data and cargo tracking firm ICIS Edge said on Wednesday.
The shift – which some analysts had not expected until 2022 – could happen very soon on a 12-month rolling basis as China’s strong economic recovery, cold weather and a crackdown on...
https://mfame.guru/china-overtakes-japan-as-worlds-top-lng-buyer/
CNOOC Buys LNG Cargoes As Demand Rebounds
China’s offshore oil and gas major CNOOC Ltd 0883.HK has bought more than 10 liquefied natural gas (LNG) cargoes for delivery between July and next March, reports Nasdaq.
China’s economy reboundThe state-owned firm’s purchase is on the back of higher spot LNG prices LNG-AS, which have doubled since early March, as China’s gas demand grows with rebounding economic growth.
CNOOC bought 12 to 15 cargoes, which is higher than the 10 cargoes it initially sought for the period, two of the sources said.
P...
https://mfame.guru/cnooc-buys-lng-cargoes-as-demand-rebounds/
LNG Consumption Almost Doubled in 2020
June is the maintenance period for many Norwegian supplies and French LNG terminals. Although there is no need for gas for heating, there is a demand for storage injections and power production, when the renewable production is low, says an article published in Gasum website.
Low renewable productionRisavika LNG increased 1.7 % week on week and was at 35.80 EUR/MWh for July contracts. European gas prices remain bullish on tight supply. June is the maintenance period for many Norwegian supplies...
Wasaline’s newest ferry completes initial sea trials
Finland’s Rauma Marine Constructions has completed the first series of sea trials of a new Ro-Pax ferry ordered by local operator Wasaline. The trials for Aurora Bo ..
Nopetro LNG Ventures into Small-scale LNG Facility
- Nopetro LNG has bolstered its defense of its small-scale LNG facility planned in Florida, touting the lower emissions it says the project would offer.
- It asserts the project is designed for function rather than to evade Federal Energy Regulatory Commission jurisdiction as some challengers have contended.
- Nopetro June 8 outlined positive impacts of the facility, to be located in Port St. Joe in the Florida Panhandle.
A recent news article published in the Platts by Maya Wevberstates that...
https://mfame.guru/nopetro-lng-ventures-into-small-scale-lng-facility/
TMC To Deliver ALS Compressors For HHI’s LNG Carriers
- Hyundai Heavy Industries has contracted TMC Compressors (TMC) to deliver marine air lubrication system (ALS) compressors.
- HHI has ordered ALS Compressors for its five LNG Carriers.
Hyundai Heavy Industries has contracted TMC Compressors (TMC) to deliver marine air lubrication system (ALS) compressors to five LNG carriers the Korean shipbuilder is constructing for three different shipowners, reports TMC Compressors.
ALS SystemALS – or air lubrication system – is a method used to reduce the...
https://mfame.guru/tmc-to-deliver-als-compressors-for-hhis-lng-carriers/
CSSC Guangxi Wins Contract for 20 LNG-Powered Ships
Guangxi Beibu Gulf Shipbuilding and Offshore has won the design contract for 10 5,000DWT LNG-powered multi-purpose cargo ships and 10 59.6m LNG-powered cement tankers from Guangxi Jinxiang Shipping, reports Xindemarinenews.
About the contractGuangxi Beibu Gulf Shipbuilding and Offshore, a subsidiary of CSSC Guangxi Shipbuilding and Offshore Engineering, has won the design contract for 10 5,000DWT LNG-powered multi-purpose cargo ships and 10 59.6m LNG-powered cement tankers from Guangxi Jinxiang...
https://mfame.guru/cssc-guangxi-wins-contract-for-20-lng-powered-ships/
Το πρώτο μεγάλο containership στον κόσμο που έχει τροποποιηθεί προκειμένου να καταναλώνει LNG έδεσε στο λιμάνι του Αμβούργου
Πρόσφατα, το πλοίο μεταφοράς εμπορευματοκιβωτίων της Hapag-Lloyd «Brussels Express», χωρητικότητας 15.000 TEUs, κατέπλευσε για πρώτη φορά στο λιμάνι του Αμβούργου. Η ιδιαιτερότητα του εν λόγω πλοίου είναι ότι αποτελεί το πρώτο μεγάλης χωρητικότητας containership στον κόσμο το οποίο έχει τροποποιηθεί προκειμένου να χρησιμοποιεί καύσιμο LNG για την πρόωσή του.
Τον Σεπτέμβριο του 2020, όταν το πλοίο ακόμη ονομαζόταν «Sajir», έπλευσε προς το ναυπηγείο Huarun Dadong της Σαγκάης, προκειμένου να...