Shipping

New Decarbonization Rules Could Speed ‘Attrition’ of Older LNG Carriers, Flex LNG CEO Says

An international regulatory body is set to finalize decarbonization guidelines for about 50,000 commercial vessels across the world later this month, but liquefied natural gas (LNG) ship owners are not waiting to upgrade their fleets. LNG carrier owners are already searching for ways to comply with the coming International Maritime Organization (IMO) decarbonization rules, which…

June 10, 2021
Vessel Owners Scoping Out Technology to Cut CO2 Emissions as Decarbonization Rules Loom — LNG Spotlight

Vessel Owners Scoping Out Technology to Cut CO2 Emissions as Decarbonization Rules Loom — LNG Spotlight

An international regulatory body is set to finalize decarbonization guidelines for about 50,000 commercial vessels across the world later this month, but liquefied natural gas (LNG) ship owners are not waiting to upgrade their fleets. LNG carrier owners are already searching for ways to comply with the coming International Maritime Organization (IMO) decarbonization rules, which…

June 4, 2021
Port of Corpus Christi Unveils Plans for Green Hydrogen at Facilities

Port of Corpus Christi Unveils Plans for Green Hydrogen at Facilities

The Port of Corpus Christi, a leading U.S. oil and natural gas export hub, has unveiled plans to explore green hydrogen production at its facilities in South Texas. Under a memorandum of understanding (MOU), the Corpus Christi port is partnering with finance giant Ares Management Corp. to look into the potential for building the hydrogen…

May 18, 2021
Corpus Christi Port, Stabilis to Partner on LNG Fueling Solutions

Corpus Christi Port, Stabilis to Partner on LNG Fueling Solutions

Houston-based Stabilis Solutions Inc. has entered into a memorandum of understanding (MOU) with the Port of Corpus Christi Authority in South Texas to use liquefied natural gas (LNG) as a marine fuel. The Port of Corpus Christi and Stabilis have committed to providing customer education and technical support, as well as grant funding opportunities to…

May 6, 2021
LNG Shipping Market Buoyed by Strong Spring Demand

LNG Shipping Market Buoyed by Strong Spring Demand

Stronger-than-expected demand for natural gas across the world as the shoulder season gets underway is lifting sentiment in the shipping market, where rates to charter vessels are creeping upward.  “We are witnessing a rare scenario as the start of 2Q2021 has been rather exciting compared to previous years,” analysts at shipbroker Fearnleys AS said this…

April 15, 2021
Backlog at Suez Canal Clearing, with Few Impacts Seen on LNG Trade

Backlog at Suez Canal Clearing, with Few Impacts Seen on LNG Trade

The backlog of vessels at the Suez Canal was dwindling Thursday after a massive container ship was freed following a week-long blockade, and little impact was seen — for now — on the global liquefied natural gas (LNG) trade. As of Thursday, about 250 ships had transited the canal since Monday (March 29), down from…

April 1, 2021
ICE Reports First LNG Freight Futures Trades — LNG Recap

ICE Reports First LNG Freight Futures Trades — LNG Recap

Intercontinental Exchange Inc. said Tuesday its liquefied natural gas (LNG) freight futures contracts launched Monday and were traded by leading industry players on their first day.  The contracts are based on LNG freight spot price assessments by Spark Commodities. ICE said 15 lots of the Spark30S Atlantic and 15 lots of the Spark25S Pacific contracts…

March 23, 2021
Qatar Teams Up With Major Portfolio Players to Develop World’s Next LNG Tanker Design

Qatar Teams Up With Major Portfolio Players to Develop World’s Next LNG Tanker Design

Qatar Petroleum (QP) has joined forces with other major liquefied natural gas (LNG) players to collaborate on the development of new vessel designs to transport the super-chilled fuel across the world.  ExxonMobil, Royal Dutch Shell plc and Total SE joined with QP in signing an agreement to develop new medium and large LNG tankers with…

March 15, 2021
Shell Orders 10 LNG-Fueled VLCCs in Decarbonization Effort

Shell Orders 10 LNG-Fueled VLCCs in Decarbonization Effort

Royal Dutch Shell plc has ordered 10 oil tankers with dual-fuel liquefied natural gas (LNG) engines as it aims to boost its fleet. “This significant commitment will see Shell hit a new milestone for our fleet decarbonization with an average of 50% of our crude tankers on time charter powered by dual-fuel LNG engines once…

March 12, 2021
Japanese Alliance Formed to Buy, Promote Carbon-Neutral LNG

Japanese Alliance Formed to Buy, Promote Carbon-Neutral LNG

Utility Tokyo Gas Co. Ltd. has joined forces with 14 other Japanese city gas end-users to form an alliance dedicated to buying and promoting carbon-neutral liquefied natural gas (LNG).  The Carbon Neutral LNG Buyers Alliance plans to promote awareness for decarbonized cargoes, which, unlike traditional shipments, offsets emissions with credit purchases that fund worldwide environmental…

March 10, 2021