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Japan Insurers in Talks with Reinsurers to Resume Coverage in Russian Waters
Three Japanese insurance companies that are set to halt marine coverage of risks related to the war in Ukraine starting next month are in talks with reinsurers to resume those operations, they said on Monday. Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance on Friday told shipowners that they would stop offering marine war insurance, which covers damage to ships from war in Russian waters, from Jan. 1, spokespeople at the companies said.
Great Lakes Dredge & Dock Warns on Weaker-than-expected Q4
Great Lakes Dredge & Dock Corporation this week warned its fourth quarter 2022 revenues and gross profit margins are expected to be lower than previously anticipated.The company said in a press release that its Q4 results were impacted by the earlier than expected retirement of the Terrapin Island hopper dredge, significant weather delays on several projects in the northeast and some project production issues.In addition…
Italy's LNG Import Capacity and New Terminals
Italy plans to boost its liquefied natural gas (LNG) import capacity to 27 billion cubic metres (bcm) from nearly 17 bcm currently as it seeks to completely replace…
Eni to Deploy FLNG Unit Offshore the Republic of Congo
Italian oil giant Eni has signed a contract with China's Wison Heavy Industry for the construction and installation of a floating liquefied natural gas (FLNG) unit with a capacity of 2.4 MTPA (million tons per annum). The FLNG will be deployed offshore the Republic of Congo.The 380-meter-long and 60-meter-wide vessel will be anchored at a water-depth of around 40 meters and will be able to store over 180,000 cubic meters of LNG and 45,000 cubic meters of LPG.
Report: Output from Shell's Prelude FLNG Shut Again
Shell has stopped production at its Prelude floating LNG plant off Western Australia after a fire.A Shell spokesperson told Reuters on Thursday that the fire at…
Rauma Begins Building Second LNG Ferry for Spirit of Tasmania
Finnish shipbuilder Rauma Marine Constructions held a steel cutting ceremony to mark the official start of construction for Spirit of Tasmania V, the second liquefied natural gas (LNG)-powered car and passenger ferry for the world’s southernmost open sea route between mainland Australia and Tasmania.The production of the first vessel began in February 2022 and its keel-laying ceremony was held in late October. The design and construction of both vessels have proceeded according to schedule.
FureBear Orders Svanehøj Electric Cargo Pumps for Seven Tankers
Denmark-based marine pump maker Svanehøj said Wednesday it had secured an order to deliver electric cargo pumps for seven LNG-/LBG-fueled chemical & product tankers. The client is the joint venture-company FureBear.Swedish Furetank AB and Canadian Algoma Central Corporation have entered into a joint venture agreement to construct eight LNG/LBG-fueled ice class 1A chemical & product tankers (17,999 DTW) to trade in Northern Europe.The joint-venture company…
Japan's MOL, India's GAIL Sign Charter Deal for Newbuild LNG Carrier
Japan's Mitsui OSK Lines (MOL) and India's state-run GAIL have signed a time charter contract for a newbuild liquefied natural gas (LNG) carrier, and for joint ownership of an existing LNG carrier. The newbuild vessel will be built by South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering with a charter period from 2023, according to a joint statement by MOL and GAIL on Wednesday. This is the second charter agreement for an LNG carrier signed between MOL and GAIL…
AG&P, ADNOC L&S to Convert LNG Carrier into FSU and Deploy it in India
Atlantic Gulf & Pacific International Holdings (AG&P) have signed a charter agreement to use ADNOC L&S 's LNG Carrier Gasha, as a Floating Storage Unit (FSU).The LNG carrier will be used at AG&P's LNG import terminal in India, which will be commissioned in the second half of 2024. The charter deal is valid for 11 years with the option of a four-year extension. The two firms which have previously entered two similar agreements for FSUs in India and the Philippines.
Gas Starts to Flow to Freeport LNG Export Plant in Texas
Freeport LNG’s long-shut liquefied natural gas (LNG) export plant in Texas was on track to receive natural gas on Tuesday, according to data from Refinitiv, a possible sign the plant might meet the company’s projected end-of-the-year return date.The Freeport shutdown added to the squeeze on global gas caused by Russia’s invasion of Ukraine. It helped boost prices in Europe and Asia to record highs over the summer, while capping gains in U.S.
FSRU Exemplar Set to Arrive at Finland's Inkoo Port on Dec. 26
The floating liquefied natural gas (LNG) terminal chartered by Finland to replace Russian gas is scheduled to arrive at Inkoo port west of Helsinki on Dec. 26, Refinitiv Eikon data showed on Tuesday. Finland has agreed a 10-year charter for the Exemplar floating storage and regasification unit (FSRU) that will serve both its domestic and the Baltic market, providing additional resources as Europe grapples with an energy crisis.
"K" Line to Operate Northern Lights' Liquefied CO2 Ships
Northern Lights, a carbon capture and storage joint venture between TotalEnergies, Shell, and Equinor, has signed an agreement under which Japan's "K" Line will operate Northern Lights' first two 7,500 m3 liquefied CO2 ships. The ships will be delivered in 2024, and they will be part of the world's first full-scale CCS value chain."K" Line's London-based subsidiary “K” LINE LNG Shipping (UK) Ltd. will manage two ships transporting liquefied CO2 from industrial emitters…
Höegh LNG in Talks to Supply More Regasification Vessels to Europe
Norway's Höegh LNG is in talks to supply more of its floating storage and regasification units (FSRUs) to several European countries seeking alternatives to Russian gas, its CEO said.The sharp drop in piped Russian gas exports to Europe in the wake of the Ukraine war has resulted in a dash for FSRUs to allow diversification with liquefied natural gas (LNG) imports.Höegh LNG has already committed five vessels, half of its FSRU fleet, to European projects, and combined they will provide 25-35 bill
N'GENIUS Says Its Steel to Transform Construction of Offshore, LNG Facilities
N'GENIUS claims its high-strength austenitic stainless steels will transform the design and construction of onshore and offshore oil, gas, and LNG facilities."The global demand for LNG is projected to reach 700 million tonnes per year by 2040 fuelling the need for greater LNG infrastructure including import receiving and export terminals, FLNG vessels, and LNG carriers. Since these facilities are being designed with larger capacities and operating under increasingly more challenging conditions…
Höegh Esperanza, FSRU for Germany's First LNG Terminal Reaches Wilhelmshaven
The Höegh Esperanza floating storage and regasification unit (FSRU), for Germany's first LNG terminal, has arrived in Wilhelmshaven, Germany, Uniper has informed."The…
Meyer Werft Delivers Arvia to P&O Cruises
German shipbuilder Meyer Werft on Thursday delivered the new cruise ship Arvia to British shipping company P&O Cruises. The sister ship of the Iona, built in 2020, also has low-emission liquefied natural gas (LNG) propulsion.At 185,000 tonnes, 345 meters in length with 16 guest decks, the newbuild can accommodate around 5,200 passengers in its 2,659 guest cabins.Jan Meyer, managing director at Meyer Werft…
Australia Gas Price Cap Boosts LNG Import Terminal Plans but Adds risk
Australia's plan to control domestic natural gas prices, which producers say will deter the development of new supply, is expected to boost the prospects for proposed LNG import terminals but potentially defeat the government's aim to cut energy bills.Parliament is set to pass legislation on Thursday to cap gas prices at A$12 per gigajoule (GJ) for a year and then require a "reasonable price" for domestic sales after the cap expires.Industry players say the plan…
LNG Hopper Dredge Vox Apolonia Delivered to Van Oord
Van Oord announced it has accepted delivery of its new trailing suction hopper dredger (TSHD), Vox Apolonia, from Keppel Singmarine Pte Ltd shipyard in Singapore.The newbuild is the second in a series of three new dual-fuel liquefied natural gas (LNG) fueled TSHDs being built for the Dutch dredging and marine services contractor.The 10,500-cubic-meter-capacity Vox Apolonia and its sister vessels Vox Ariane and Vox Alexia, fall into the mid-class section of Van Oord’s TSHD fleet.
VTTI Plans New 5 bcm Floating LNG Platform in Netherlands by 2024
Dutch energy company VTTI said on Monday it plans to build a new floating liquefied natural gas (LNG) terminal in the Netherlands with capacity to import 5 billion cubic meters of gas annually. On Friday the Dutch government said it was in talks with two different groups over new LNG terminals to increase Dutch import capacity by 5-8 billion cubic meters (bcm) annually as it seeks to ensure the country's energy security.
Chinese Shipyards Feast on Record LNG Tanker Orders as S.Korea Builders Fully Booked
China is making fast inroads in the market for newbuild liquefied natural gas (LNG) tankers as local and foreign shipowners turn to its shipbuilders for the specialty vessels because long dominant yards in South Korea are fully booked. Three Chinese shipyards - only one of them having experience building large LNG tankers - won nearly 30% of this year's record orders for 163 new gas carriers, claiming ground in a sector where South Korea usually captures most of the business.