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CMA CGM Acquires La Méridionale, New Ship Orders Planned
The CMA CGM Group today finalized the acquisition of La Méridionale, a mixed-use freight and passenger shipping company established in Marseille since 1931. La Méridionale currently has four RoPax vessels, which operate up to 13 weekly crossings between Marseille, Porto Vecchio and Ajaccio, plus connections between Marseille and Morocco.The acquisition of La Méridionale complements the new division of the CMA CGM Group dedicated to specialized shipping operations.
Thenamaris to install Starlink LEO Internet
Marlink will support shipmanager Thenamaris in its digital business transformation with the integration of Starlink within its smart hybrid network.Thenamaris is an existing user of Marlink’s Sealink VSAT with L-Band backup in part of its fleet and plans to add new LEO services – to provide an additional layer of capability onboard its vessels – a concept Marlink has created as a next generation solution.
Van Oord Takes Delivery of Third Dual-fuel LNG Dredger
Van Oord Ship Management has taken delivery of its third dual-fuel trailing suction hopper dredger (TSHD), from Seatrium in Singapore.The delivery of Vox Alexia, the final unit of a series of three dual-fuel LNG-powered dredgers, follows the first and second dredger newbuilds Vox Ariane and Vox Apolonia delivered in April and December 2022 respectively.Vox Alexia is IMO Tier III compliant, built to Bureau Veritas (BV) class and has a hopper capacity of 10,500m3.
QatarEnergy to Sign Long-term Asian LNG Supply Deal on Thursday - Source
QatarEnergy will sign a long-term liquefied natural gas (LNG) supply deal with an Asian entity on Thursday, a source with direct knowledge of the matter told Reuters.The deal will be one of many to come this year as the major LNG producer secures sales for its North Field expansion project, the source said on Tuesday. Competition for LNG ramped up last year after the Ukraine war, with Europe in particular…
China Merchants Shipping Orders Methanol-Ready Crude Oil Tankers
Shipowner China Merchants Shipping has signed a construction contract for two methanol-ready crude oil tankers to be delivered by China State Shipbuilding Trading, a subsidiary of China State Shipbuilding Corporation, and Dalian Shipbuilding Industry Group.The two 115,000-ton crude oil tankers will have selective catalytic reduction (SCR) to reduce NOx emissions and a scrubber to reduce SOx emissions.On delivery…
Cyprus Wants Shipping Corridor to Export Mediterranean Gas to Europe
Cyprus wants to establish itself as a gateway from east Mediterranean gas resources to Europe via a shipping corridor of LNG carriers, its president said on Monday. Cyprus's new centrist government, which came to power in February, has cooled to the idea championed by its predecessors of an "EastMed" pipeline transferring gas to Europe.Instead, authorities now want to transport, via pipeline, natural…
Four Bidders Vie For Stake in Exxon LNG Terminal Offshore Italy - Sources
Four international groups are competing to buy Exxon Mobil Corp's majority stake in a liquefied natural gas (LNG) terminal offshore Italy, two sources familiar with the matter said. The deal could value the entire LNG terminal at around 800 million euros ($881 million), the sources said. Exxon said in March it was considering selling its majority stake in Adriatic LNG, Italy's main regasification terminal, as part of a wider strategy to divest non-core assets. The U.S.
Asian Spot LNG Prices Slide for Fifth Straight Week
Asian spot liquefied natural gas (LNG) prices have weakened for the fifth consecutive week on muted demand due to healthy stocks, remaining at their lowest level in two years.The average LNG price for July delivery into north-east Asia was down 3% from the previous week at $9.50 per million British thermal units (mmBtu), the lowest since early May 2021, industry sources estimated."North Asia remains largely void of demand.
Hanwha Completes Purchase of DSME
The Hanwha Group has completed its take over of Daewoo Shipbuilding & Marine Engineering (DSME), renaming it Hanwha Ocean.Hanwha Vice Chairman Kwon Hyuk-woong has been appointed as CEO of the shipyard.The Korea Times reports that DSME suffered a 1.6 trillion won operating loss last year and 1.7 trillion won the year before. During the first three months of this year, it suffered 62.8 billion won in…
Germany Cannot be Relaxed about Baltic LNG Capacity, Senior Official Says
Germany cannot be relaxed about the need for liquefied natural gas (LNG) terminals in the Baltic Sea, a high-ranking economy ministry official said on Monday, a week after plans emerged to scale down the region's Mukran project after local resistance. "We should not be relaxed about supply security in the next winter," said Stefan Wenzel, a parliamentary state secretary in the ministry led by Robert Habeck of the Green Party.
GTT’s Three-tank Concept Gets AIP from Lloyd’s Register
GTT and Samsung Heavy Industries (SHI) have received an approval in principle (AIP) from Lloyd’s Register for the application of a new design of liquefied natural gas (LNG) carrier featuring GTT’s three-tank concept equipped with the Mark III Flex membrane containment system. This approval is the result of a joint development project (JDP) initiated in 2022, aiming at designing a new generation of…
Mitsubishi, Nihon Launch Effort to Design, Build an LCO2 Carrier
Mitsubishi Shipbuilding and Nihon Shipyard -- a Tokyo-based joint venture for ship design and sales between Imabari Shipbuilding and Japan Marine United Corporation -- have started joint study for the development of an ocean-going liquified CO2 (LCO2) carrier. Nihon Shipyard is pursuing this project with the aim of completing construction of the vessel from 2027 onwards.Demand for LCO2 carriers is…
Bangladesh's Moheshkhali LNG Terminal Back to Nearly Full Capacity
Bangladesh's Moheshkhali liquefied natural gas (LNG) terminal, operated by Excelerate Energy, resumed supply at nearly full capacity late on Sunday, two government officials told Reuters, after being closed for about a week due to a deadly storm. The resumption of operations at the two terminals is set to provide a respite to millions of Bangladesh citizens, who have been hit by frequent outages in recent months.
Asian Spot LNG Prices Slip to Two-year Low
Asian spot liquefied natural gas (LNG) prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.The average LNG price for July delivery into northeast Asia was down 6.6% from the previous week at $9.8 per million British thermal units (mmBtu), the lowest since May 2021…
SHI European 'Road Show' Showcases New Ship Designs
Samsung Heavy Industries (SHI) held aTechnology Road Show in Europe as an official debut of its new design ship.SHI held its "Samsung Technical Seminar in Athens" at the Marriott Hotel in Athens, Greece, and announcing details on a pair of new designs: an LNG carrier and a container ship.SHI reports the event attracted 70 people from 35 companies, including shipowners such as Minerva, GasLog, Shell…
Alaska LNG Project Clears Legal Hurdle
A U.S. appeals court on Tuesday rejected a lawsuit filed by environmental groups challenging federal approvals needed to construct a $39 billion project that would move natural gas from Alaska’s North Slope across the state.A three-judge panel of the U.S. Circuit Court of Appeals for the District of Columbia said the U.S. Federal Energy Regulatory Commission's review of plans for the state-run Alaska…
Head of Top US Oil-export Port Resigns Suddenly
Sean Strawbridge, chief executive of the Port of Corpus Christi, the largest U.S.
Corsica Linea Signs 10-year Asset Performance Deal with Wärtsilä
French ferry operator Corsica Linea has signed 10-year Guaranteed Asset Performance (GAP) agreement with Wärtsilä to help ensure optimal performance of the power systems onboard the company’s new liquefied natural gas (LNG)-fueled RoPax vessel A Galeotta, which will sail between Marseille and Corsica in France. The 206-meter-long ship was built at the Visentini yard in Italy. It features two Wärtsilä…
Germany's LNG Import Terminals Tackle Challenges
A German government-backed liquefied natural gas (LNG) terminal project at Mukran on Ruegen island in the Baltic Sea, near existing LNG reception facilities delivering…
Platts Launches Tanker Freight Rates to Reflect Costs of New Fuels
Platts, part of S&P Global Commodity Insights, has launched new price assessments for tanker base freight rates that factor in pricing for alternative fuels, the agency said on Tuesday.The move comes as the agency expects the maritime sector's use of alternative fuels, such as liquefied natural gas (LNG) to grow significantly in the next few years.With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissions…