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Flex LNG Secures Long Term Charters for LNG Carrier Duo
Flex LNG has secured two charter deals with a minimum firm period of three years for each of its two LNG carriers Flex Resolute and Flex Courageous. The Oslo-listed…
Record Number of Floating Production System Awards Expected Over the Next 18 Months
![Credit: Ranimiro/AdobeStock](https://images.marinelink.com/images/maritime/w200h200c/credit-ranimiroadobestock-127045.jpg)
Around 30 production floater contracts are now queued up for award over the next 18 months, assuming no major market disruption occurs and the supply chain can absorb the orders within this time frame. That’s the conclusion of an in-depth market analysis just completed by IMA/WER.The market surge is being driven by crude prices that have climbed to the mid-$80s on fast rebounding oil demand growth, supply constraints by OPEC+ and inadequate investment by upstream players to replace production.
Flow of Goods Through Panama Canal Hits Record
![© searagen / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/searagen-adobe-stock-127038.jpeg)
The Panama Canal moved more than a half a billion tonnes of goods over the last year, the canal's top official said on Thursday, marking a record high for the key global waterway as international trade picked up.Ricaurte Vasquez, the Panama Canal Authority's administrator, told reporters during a webcast news conference that 516.7 million tonnes of goods passed through the century-old waterway during the 2021 fiscal year, which ended in September."It's been an exceptional year," he said, noting
Interview: Hiroaki Sakashita, CEO, ClassNK
![“Decarbonization will change the structure of seaborne trade, ships’ specification and design, ships’ operation, and the economic mechanism of maritime transportation. It will profoundly affect all stakeholders involved in the shipping business.
Hiroaki Sakashita, CEO, ClassNK](https://images.marinelink.com/images/maritime/w200h200c/carbonization-will-change-the-structure-126969.jpg)
While the maritime industry faces a long ‘to do’ list for the coming three decades, Hiroaki Sakashita, CEO, ClassNK, sees decarbonization as the definitive trend that will most dramatically impact the design, construction and life-cycle operation of ships.“It is decarbonization.”Hiroaki Sakashita, CEO, ClassNK, is definitive when asked to discuss the biggest challenge facing shipowners today. “Decarbonization will change the structure of seaborne trade…
Siem Offshore's PSV to Feature Wärtsilä Energy-saving Hybrid Propulsion
![Siem Pride - Credit: Wärtsilä](https://images.marinelink.com/images/maritime/w200h200c/siem-pride-credit-wrtsil-126958.jpg)
Finland-based marine equipment and technology provider Wärtsilä will upgrade Siem Offshore's platform supply vessel ‘Siem Pride’ for hybrid engine and battery propulsion. The upgrade will enable the vessel to reduce the number of engines in use during operations and lower its energy and fuel consumption. "Central to the conversion will be the Wärtsilä HY Module, which is a containerized solution on the deck of the vessel…
Japanese Trio Connects on Project to Reduce Methane Slip by 70%
![The methane slip reduction system will be installed in a coal carrier built at the Namura Shipbuilding and operated by MOL for demonstration of the methane slip reduction technology. Source: MOL](https://images.marinelink.com/images/maritime/w200h200c/the-methane-slip-reduction-system-126941.jpg)
As the global shipping industry is under the microscope to reduce emissions, three Japanese leaders in the maritime space: Hitachi Zosen, Mitsui O.S.K. Lines, Ltd.(MOL) and Yanmar Power Technology Co., Ltd. (YPT), have targeted methane slip as an area of study via its "Development of Methane Slip Reduction Technology from LNG Fueled Vessels by Improving Catalysts and Engines", with Hitachi Zosen serving…
Shipbuilding: DSME Delivers another LNG Carrier to Nakilat
![Nakilat has taken delivery of a newbuild LNG carrier, Global Sea Spirit, Photo courtesy Nakilat](https://images.marinelink.com/images/maritime/w200h200c/nakilat-has-taken-delivery-of-126906.jpg)
Nakilat has taken delivery of a newbuild LNG carrier dubbed Global Sea Spirit, a ship to be commercially and technically managed in-house by Nakilat Shipping Qatar Limited (NSQL). Built by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea, this is the third of four LNG newbuild carriers to be delivered to Global Shipping Co. Ltd., a joint venture between Nakilat (60%) and Maran Ventures Inc. (40%).
NYK and Partners to Develop Ammonia-fueled Vessels
![© VanderWolf Images / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/vanderwolf-images-adobe-stock-126900.jpeg)
Japan's Nippon Yusen KK (NYK) and its partners said on Tuesday they will conduct a demonstration project to develop commercial vessels equipped with ammonia-fueled engines to help reduce carbon dioxide emissions to tackle climate change.The shipping industry is examining a range of technologies as it looks to meet a target set by the UN's International Maritime Organization (IMO) of reducing overall greenhouse gas emissions from ships from 2008 levels by 50% by 2050.Ammonia is used in making fer
India Receives First LNG Cargo from Yamal LNG Project
![Marshal Vasilevsky carrier - Credit: Vladimir Belyaev](https://images.marinelink.com/images/maritime/w200h200c/shal-vasilevsky-carrier-credit-vladimir-126882.jpg)
India received its first import of liquefied natural gas (LNG) from Russia's Yamal LNG project over the weekend, Refinitive Eikon LNG flows data showed.The cargo was supplied by Russian gas company Gazprom under its long-term LNG sales deal with GAIL (India) Ltd, an industry source said.The cargo on board the Marshal Vasilevsky sailed through the Northern Sea Route, Pacific Ocean, and Indian Ocean before arriving at GAIL's Dabhol terminal over the weekend…
France’s First LNG Bunker Vessel Named
![Credit: MOL](https://images.marinelink.com/images/maritime/w200h200c/credit-mol-126880.jpg)
The first LNG bunker vessel to be based in France has been named “Gas Vitality”, at a ceremony held today at Hudong-Zhonghua Shipbuilding, China. The 18,600-m³ newbuild bunker vessel is TotalEnergies Marine Fuels’ second collaboration with shipowner Mitsui O.S.K. Lines, Ltd (MOL) and shipbuilder, Hudong-Zhonghua Shipbuilding following the signing of a long-term charter contract in November 2019. Classed by Bureau Veritas and operated by V.Ships France under the French flag…
FSRU: Nakilat, Karpowership sign MoU
![Nakilat and Karpowership signed a Memorandum of Understanding (MoU) to collaborate in the LNG-to-power market and jointly own and operate Floating Storage Regasification Units (FSRUs). Photo courtesy Nakilat](https://images.marinelink.com/images/maritime/w200h200c/nakilat-and-karpowership-signed-a-126850.jpg)
Nakilat and Karpowership signed a Memorandum of Understanding (MoU) to collaborate in the LNG-to-power market and jointly own and operate Floating Storage Regasification Units (FSRUs)."This fits very well with Nakilat’s long-term growth plan to expand and diversify our shipping portfolio and strengthens our position as a global leader in the energy transportation sector,” said Nakilat’s CEO Eng. Abdullah Al-Sulaiti.The MoU outlines an ambitious plan for the immediate future.
LNG Demand to Rise 25-50% By 2030 - Morgan Stanley
![© Mike Mareen / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/mike-mareen-adobe-stock-126851.jpg)
Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50% by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday.Morgan Stanley has raised its long-term LNG price outlook to $10 per million British thermal units (mmBtu), expecting spot prices of the super-chilled fuel to average 40% higher over the next decade…
Model Testing Complete for Delta Offshore Energy's 3.2GW LNG-to-Power Project
![Credit: Delta Offshore Energy](https://images.marinelink.com/images/maritime/w200h200c/credit-delta-offshore-energy-126844.jpeg)
Delta Offshore Energy (DOE), a company working to develop the 3200 MW Bac Lieu LNG-to-Power Project in Vietnam, has said that model testing of the LNG receiving terminal technology has been successfully completed.As previously reported DOE Delta Offshore Energy (DOE) in September 2020 signed a technology license agreement with Stena Power & LNG Solutions, under which Stena agreed to grant DOE a license…
Italian Bank Could Fund Novatek's Giant Arctic LNG 2 Project
![File image: Novatek](https://images.marinelink.com/images/maritime/w200h200c/file-image-novatek-126833.jpg)
Italy's biggest banking group Intesa Sanpaolo could help fund Novatek's Arctic LNG 2 project even as some European governments show lukewarm support for the giant Russian gas project."We are studying the dossier ... though no decision has as yet been taken," Antonio Fallico, chairman of group unit Banca Intesa Russia, told Reuters on Wednesday.Fallico said the bank had been invited to look at the financing deal by SACE…
Exmar, Lattice Working on 40,500 m3 CO2 Carrier
![Credit: Exmar](https://images.marinelink.com/images/maritime/w200h200c/credit-exmar-126820.jpg)
Exmar, a company owning gas carriers and FSRU units, has partnered up with Lattice Technology to develop a new type of CO2 carrier."With the global need to decarbonize the atmosphere and our world economy heavily relying on a secure energy supply, one of the promising fast-track solutions to cover both opportunities Carbon Capture Utilization and Storage (CCUS). To achieve sustainable CCUS projects…
GTT Wins LNG Tank Design Order for Six Containerships
French engineering firm GTT said it has been chosen by South Korean shipyard Samsung Heavy Industries (SHI) to design the cryogenic fuel tanks of six liquefied natural…
Long-term Charter: NYK Delivers New LNG Carrier to TotalEnergies
![LNG Endeavour - Credit: NYK](https://images.marinelink.com/images/maritime/w200h200c/lng-endeavour-credit-nyk-126788.jpg)
Japanese shipping firm NYK said Thursday it had delivered the LNG carrier LNG Endeavour to TotalEnergies on a long-term charter.The vessel commercially managed by France LNG Shipping, a French ship-owning company jointly owned by NYK and Geogas LNG, was delivered on October 20. The 293 meters long vessel was built by Samsung Heavy Industries in South Korea. NYK did not say how long exactly the charter…
Seaspan Ferries to Run Its Vessels on Renewable Natural Gas
![(Photo: Seaspan Ferries)](https://images.marinelink.com/images/maritime/w200h200c/photo-seaspan-ferries-126779.jpg)
This week, Seaspan Ferries Corporation became the first Canadian marine company to pilot the use of renewable natural gas (RNG) to reduce greenhouse gas emissions produced by its roll-on, roll-off liquefied natural gas (LNG) powered marine fleet. Seaspan expects that data from the pilot will confirm that, by using RNG, greenhouse gas emissions can be reduced by upwards of 85% versus traditional diesel fuel.Seaspan has worked closely with FortisBC Energy Inc.
LR Digital Twin Approval for Samsung Heavy Industries
![The AiP was awarded in the presence of Hyun-Jo Kim, Managing Director, SHI (center left) and Young-Doo Kim, North East Asia TSO Manager, LR (center right). (Photo: Lloyd's Register)](https://images.marinelink.com/images/maritime/w200h200c/the-aip-was-awarded-in-126766.jpg)
Classification society Lloyd’s Register (LR) said it has granted Digital Twin Ready Approval in Principle (AIP) to shipbuilder Samsung Heavy Industries (SHI) for its Smart Ship Solution, SVESSEL CBM and S-Fugas (Samsung Fuel Gas) System.The class approval, which comes as a result of a Joint Development Project (JDP) formed earlier in the year, is SHI's first for a systems engineering approach for developing artificial intelligence (AI)-enabled technology.As part of the project…
LNG Carrier Rates More Than Double in Two Weeks
![© Wojciech Wrzesień / Adobe Stock](https://images.marinelink.com/images/maritime/w200h200c/wojciech-wrzesie-adobe-stock-126745.jpeg)
Tanker rates to ship liquefied natural gas (LNG) have more than doubled since the start of the month as a power crisis in Asia and Europe drives up demand for vessels, industry sources said on Tuesday.The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic meters of LNG to Pacific basin ports rose to $202,500 a day on Tuesday, the highest since Jan. 15, according to data from Spark Commodities.For the same type of ship moving in the Atlantic basin…
Icebreaking LNG Carrier Vladimir Rusanov on Ice Trials
![](https://images.marinelink.com/images/storage/w150h150c/dzb9n6nw4aasept.jpg)
Maritime Reporter TV Interviews Timo Koponen, Wärtsilä
![](https://images.marinelink.com/images/storage/w150h150c/662036de.jpg)
Digitalization Driving Safety in the Maritime Sector
![](https://images.marinelink.com/images/storage/w150h150c/cropimg2546.jpg)
Designer seeks permit to send out United States gas to Mexico for LNG exports
![](https://images.marinelink.com/images/storage/w150h150c/roundex-adobe-stock-149830.jpeg)
Video: LNG Carrier Transits the Northern Sea Route
![](https://images.marinelink.com/images/storage/w150h150c/eduard-toll-northern-sea-route-passage-1.jpg)
Crowley Christens LNG-Powered ConRo
![](https://images.marinelink.com/images/storage/w150h150c/0x4a1012-bhdisplay.jpg)
Pasha Hawaii Brings LNG Containerships Online
![](https://images.marinelink.com/images/storage/w150h150c/nicksouzahnl1.jpg)
LNG Investment Set to Grow
![](https://images.marinelink.com/images/storage/w150h150c/jim.png)
Maritime Reporter TV Interviews Leif Gross, Caterpillar
![](https://images.marinelink.com/images/storage/w150h150c/74b84e3d.jpg)
Inside Crowley's Commitment Class ConRo Ships
![](https://images.marinelink.com/images/storage/w150h150c/untitled-c616.png)