Shipping

Stabilis Solutions Inc. has entered memorandums of understanding (MOU) with the Port Isabel Logistical Offshore Terminal (Pilot) in Texas and Louisiana’s Cameron Parish Port, Harbor & Terminal District (CPP) to develop liquefied natural gas (LNG) refueling services for ships calling on the facilities.  Stabilis has now signed on with four ports in recent months to…

Danish shipping giant AP Moller-Maersk A/S plans to roll out the first of eight large container vessels fueled by carbon-neutral methanol in 2024, four years after the company rebuffed liquefied natural gas (LNG) as a low-carbon transition fuel. The vessels are to be built by Hyundai Heavy Industries (HHI) with nominal capacity of about 16,000…

The Port of New Orleans and Cleancor Energy Solutions LLC have signed a memorandum of understanding (MOU) to develop liquefied natural gas (LNG) fueling services for ships in the port. Cleancor, which distributes small-scale LNG and compressed natural gas, would work with the port to provide the super-chilled fuel for bunkering. The port would provide…

The liquefied natural gas (LNG) shipping market is expected to tighten in the coming years as carrier owners fill charters and older, higher emitting vessels are pushed out of the market, Flex LNG Ltd. CEO Øystein Kalleklev said. One-year term charter rates have risen since the start of the year as global LNG demand has…

Bermuda-based liquefied natural gas (LNG) specialist Golar LNG Ltd. may spin off its shipping unit amid a positive outlook for freight rates. CEO Karl Fredrik Staubo said recently strong demand in Asia, along with new International Maritime Organization decarbonization rules that would cut the number of active older LNG carriers starting in 2023, is likely…

The nascent carbon-neutral liquefied natural gas (LNG) market is set to gain momentum this year as global buyers are increasingly concerned about their emissions footprints. The market is on track to quadruple this year, according to a recent report from FTI Consulting. The firm has tracked six carbon-neutral cargoes through April, compared to only five…

Royal Dutch Shell plc said Monday that it has signed the world’s first term contract to supply carbon-neutral liquefied natural gas (LNG) to a PetroChina Co. Ltd. subsidiary.  Shell said it signed a five-year agreement with PetroChina International Co. Ltd. (PCI). It did not say how much carbon-neutral LNG would be supplied or when the…

Baltic Exchange CEO Mark Jackson believes the nearly 300-year-old organization “sells trust” to the maritime industry, something that has factored heavily into its entry into the liquefied natural gas (LNG) market.  Founded in 1744, the Baltic had its beginnings in the coffee houses of London where merchants and shipowners met. It provided rules for backroom…

The liquefied natural gas (LNG) shipping market remains tight as demand from South America to Asia is strong, but analysts said freight rates could diverge from LNG prices in the coming weeks on a variety of factors.  For now, vessel rates are up. While the spot market in the Pacific Basin is “fairly quiet,” demand…