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Thursday, November 21, 2019

Liquefied Petroleum Gas News

Image: Babcock

Babcock Wins Multiple Orders

UK-based engineering services company Babcock said that its liquefied gas equipment (LGE) arm has netted 26 orders in the LNG and liquefied petroleum gas (LPG) carrier markets so far this year.Having won 16 contracts in the LPG carrier market, plus a further 10 ecoSMRT contracts for LNG carriers so far in 2019, the company continues to thrive in challenging market conditions.Now contracted to deliver LPG Fuel Gas Supply System (ecoFGSS) on six LPG carriers in a range of sizes, including the world’s first new-build system, Babcock’s LGE business dominates the sector whilst maintaining LPG and L

Pic: Indian Oil Corporation Ltd

Asian LPG Market to Cross $109Bln by 2024

The Asian liquefied petroleum gas (LPG) market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, as increasing demand for LPG  as a fuel for power generation in remote and off-grid locations in comparison to its less environment-friendly alternatives like coal, diesel and fuel oil.Increasing demand for LPG used to run vehicles (Autogas)  is being witnessed as it is a comparatively cheaper automotive fuel and can be used in vast applications related to transportation…

Photo: NYK Group

VLGC for Astomos Energy Named

A naming ceremony was held in Kumamoto Prefecture at the Ariake Shipyard of Japan Marine United Corporation for a new VLGC (very large gas carrier) that NYK will charter under a long-term contract to Astomos Energy Corporation,  pre-eminent liquefied petroleum gas (LPG) company.The ship was named “Lily Promenade” by Kazuhisa Otsuka, senior operating officer of Astomos Energy Corporation, and the ceremonial rope holding the vessel in place was cut by Mariko Kurokawa of Astomos.

Pic: Nakilat

Nakilat Posts 10.5% Surge in 9 Month's Net Profit

Qatari shipping and maritime company Qatar Gas Transport Company (Nakilat) reported a 10.5% year-on-year increase in net profit to QR728mn (USD 200 million) in the first nine months of this year.Nakilat, which has the largest LNG shipping fleet in the world, comprising 69 vessels, said in a press note that its positive financial performance can be primarily attributed to better operational performance in managing its liquefied natural gas (LNG) and liquefied petroleum gas (LPG)…

Image: Ocean Yield ASA

Ocean Yield Buys Ethylene Gas Carrier

Norwegian shipowner Ocean Yield ASA has agreed to acquire Navigator Aurora, a 37,300 cbm ethylene gas carrier owned by Navigator Gas.According to agreement, the ship will be purchased for a total consideration of USD 69.75 million net of a seller’s credit, with a 13-year bareboat charter to a company 100% owned and guaranteed by Navigator Holdings - Navigator Gas.The vessel is expected to be delivered to the Company during October 2019. Navigator Gas has certain options to acquire the vessel during the charter period.

Arctic Discoverer will carry cargo number 1000 from the Hammerfest LNG plant. (Photo: Silje Grytbakk / Equinor ASA)

Hammerfest LNG Ships 1000th LNG Cargo

Norwegian energy company Equinor reached a milestone at its Hammerfest LNG facility on Melkøya Island, “the Snøhvit plant”,  by loading the 1000th cargo of the chilled fuel.The cargo consists of 140 500 cubic metres of liquefied natural gas (LNG). Total sales value of all the LNG cargos since the field came on stream is in the range of NOK 130-150 billion. In addition, we have the value of liquefied petroleum gas (LPG) and condensate.Arctic Discoverer is the name of the tanker that will carry cargo number 1000 from the Hammerfest LNG plant.

File Image: Panama Canal (Credit AdobeStock / © evenfh

Panama Canal Reports Record FY 2019 Tonnage

The Panama Canal has closed the 2019 fiscal year (FY19) with a record tonnage of 469 million Panama Canal tons (PC/UMS), a 6.2 percent increase compared to FY2018.With this figure, the waterway exceeds the 450.7 million PC/UMS tons projection for FY2019, as well as the record tonnage of 442 million PC/UMS tons registered in the previous fiscal year. These record-setting results reflect the Canal workforce's commitment to efficiency and ongoing investments in infrastructure, which will allow the waterway to meet the growing demand and offer a reliable and safe service to customers.

AdobeStock (Credit Carabay ©)

COSCO Tankers Disable AIS as Sanctions Bite

About one-third of the oil tankers owned by COSCO Shipping Tanker (Dalian) have shut off their ship-tracking transponders since the United States imposed sanctions on the company for allegedly shipping Iranian crude, shipping data showed.From Sept. 30 to Oct. 7, a total of 14 COSCO Dalian ships, six of which carry some oil, stopped sending location data from their automatic identification system (AIS), ship tracking data on Refinitiv Eikon showed. The U.S. imposed the sanctions on Sept.

Photo courtesy of TNPA

LPG Tanks Arrive at Port of Richards Bay

Transnet National Ports Authority’s (TNPA) Port of Richards Bay welcomed the arrival of four new 5650-ton liquefied petroleum gas (LPG) storage bullets on Thursday, September 12th on board the vessel XIN LU.The bullets are for the 22,600-ton capacity mounded LPG facility which is being developed at the port by Bidvest Tank Terminals (BTT), a unit of the Bidvest Group. The terminal will store LPG on behalf of independent LPG specialist Petredec, which ships the fuel from the US and the Middle East.Construction began in October 2018 and the facility is expected to become operational in 2020…

Image: Hyundai Heavy Industries

Hyundai Samho Wins Orders for 5 Ships

South Korean shipbuilder Hyundai Samho Heavy Industries, a unit of Hyundai Heavy Industries (HHI), received orders for the construction of five vessels.According to Yonhap, the orders include two liquefied petroleum gas (LPG) carriers and three petrochemical carriers - for some 410 billion won ($337 million) combined.Hyundai Samho will build two LPG carriers with a cargo capacity of 84,000 cubic meters (2.97 million cubic feet) by November 2021 for 197.3 billion won, for  an unidentified…

Photo: ACP

6,000th Neopanamax Transit at Panama Canal

The Panama Canal welcomed its 6,000th Neopanamax vessel through the Expanded Canal, underscoring the route’s ability to accommodate the highly-dynamic liquefied natural gas (LNG) segment, which first transited the waterway following the inauguration of the Expanded Canal less than three years ago.The LNG vessel Energy Liberty completed the milestone transit today travelling southbound from the Atlantic to the Pacific Ocean. Constructed in 2018, the vessel has a cargo capacity of 165…

Pic: Avance Gas

Avance Gas Names Ulrik Andersen as CEO

Avance Gas Holding, a Bermuda-based company engaged in the transportation of liquefied petroleum gas, announced the appointment of Ulrik Andersen as Chief Executive Officer of Avance Gas AS, the management company of the Avance Gas group.Ulrik Andersen is appointed as Chief Executive Officer effective August 2019, a press note said.Ulrik has extensive experience from VLGC ship owning, most recently as Commercial Head of Shipping for Petredec. Prior to working with Petredec, Ulrik served as Managing Director for Neu Gas Shipping…

Photo: TNPA

Construction Kicks Off at Ngqura Liquid Bulk Terminal

Oiltanking Grindrod Calulo (Pty) Ltd (OTGC) and Transnet National Ports Authority (TNPA) has turned the first sod at the site of the Port of Ngqura’s future liquid bulk tank farm. This comes ahead of the planned decommissioning and rehabilitation of the existing liquid bulk facilities at the neighboring Port of Port Elizabeth, which will pave the way for Ngqura’s establishment as a new petroleum trading hub for Southern Africa.The new tank farm is expected to provide storage and marine infrastructure to support the overall petroleum demand projections for South Africa.

Image: NAPA

INPEX Selects NAPA for LNG Carrier Fleet

Japan's largest oil and gas exploration and production company INPEX Corporation has installed ClassNK-NAPA GREEN for monitoring operations on three of its liquefied natural gas (LNG) carriers.NAPA said that Inpex awarded a deal to the company for the provision of a solution for monitoring and follow-up of ship operations on two LNG carriers built to service the Ichthys project and one LNG carrier for Shell’s Prelude FLNG project.With the core motivation of accurately verifying the technical performance of these highly complex carriers…

Dakuku Adol Peterside. Photo: NIMASA

Nigeria: No More Vessel Waivers

The Nigerian Maritime Administration and Safety Agency (NIMASA) on Sunday said it had commenced clampdown on vessels that do not comply with the provisions of the Cabotage Compliance Strategy introduced last year to ease the implementation of the Cabotage Act 2003 in Nigeria.The Director-General of NIMASA, Dr Dakuku Peterside, said in a statement on Sunday in Lagos that the clampdown became necessary after several warnings.He has said the Agency will no longer encourage the application of any form of waivers under the Cabotage Act…

Sture Terminal (Photo: Equinor)

Norwegian Oil, Gas Plants Restart after Ship Collision

An oil tanker and a Norwegian navy frigate collided off Norway's west coast on Thursday, injuring eight people and triggering the temporary shutdown of a North Sea crude export terminal, Norway's top gas processing plant and several offshore fields.The frigate, which recently took part in a major NATO military exercise, was aground and tilting on one side, live television pictures showed. The Norwegian military was attempting to save the ship."We are working on stabilizing the vessel…

The container segment continued to serve as the leading market segment for tonnage through the Canal, accounting for 159 million tons of the total cargo received, of which 112.6 million PC/UMS tons transited the Expanded Canal. (Photo: Panama Canal Authority)

Panama Canal Sets Record Annual Cargo Tonnage

The Panama Canal closed its 2018 fiscal year with a record tonnage of 442.1 million Panama Canal tons (PC/UMS), which represents a 9.5 percent increase from the previous year, the Panama Canal Authority reports.With this tonnage, the Panama Canal surpasses the cargo projections of 429.4 million PC/UMS tons for FY 2018, as well as the 403.8 million PC/UMS tons registered in FY 2017."The Panama Canal continues to exceed our expectations, reinforcing every day the importance of the waterway's expansion and its impact on global maritime trade," said Panama Canal Administrator Jorge L. Quijano.

© waldorf27 / Adobe Stock

Bangladesh to Hold Talks with ENOC for LPG Terminal

Bangladesh will hold talks with Dubai-based Emirates National Oil Company (ENOC) to set up an liquefied petroleum gas (LPG) terminal in the country, a Dhaka-based official said on Tuesday."ENOC has sent us a proposal for a joint venture project to build an LPG terminal," said Sayed Mohammad Mozammel Haque, a director of state-owned Bangladesh Petroleum Corporation."We have invited them for detailed discussions in our office in Dhaka. They are supposed to come on Oct.

© komi$ar / Adobe Stock

Eight Vessels Stalled at Sabine Pass Over Draft Restrictions

Eight vessels were stalled on Friday at the Sabine Pass Channel on the Texas-Louisiana border after 37-foot draft restrictions were put in place this week to allow search operations for a displaced pipeline, the U.S. Coast Guard said.One liquefied natural gas (LNG), one liquefied petroleum gas (LPG) and two oil tankers were waiting to leave the Sabine Pass, while one LNG and three oil tankers were waiting to enter the channel, a Coast Guard spokesman said on Friday.(Reporting by Liz Hampton; Editing by Chizu Nomiyama)

Ship Strikes Dredging Pipeline in Sabine Pass

Several vessels, including two oil tankers and one carrying liquefied natural gas, were stalled and unable to enter the Sabine Pass shipping channel near the Texas-Louisiana border due to draft restrictions, the U.S. Coast Guard said on Thursday.Port Arthur's Vessel Traffic Service implemented 32-foot restrictions on draft, or vessel depth, on Wednesday, after a 24-inch steel dredge pipeline was struck and pulled out to sea by a ship moving through the Sabine Pass Channel to the U.S.

LNG tanker Maria Energy completed the milestone transit traveling from the Atlantic to the Pacific Ocean on July 29. (Photo: Panama Canal Authority)

4,000th Neopanamax Vessel Transits the Panama Canal

The Panama Canal registered the transit of its 4,000th Neopanamax vessel through the Expanded Canal, underscoring the steady growth of the burgeoning liquefied natural gas (LNG) segment – which began transiting the waterway for the first time following the inauguration of the Expanded Canal.The LNG tanker Maria Energy completed the milestone transit traveling southbound from the Atlantic to the Pacific Ocean on July 29."The steady increase in Neopanamax transits reflect our customers’ confidence in the Expanded Canal…

Photo: Dorian LPG Ltd

BW LPG Nominates Three Directors to Dorian LPG Board

Dorian LPG confirmed that Oslo-based BW LPG BW LPG  has submitted the names of three director candidates to stand for election at Dorian's 2018 Annual General Meeting of Shareholders. Dorian LPG, is a fully-integrated liquefied petroleum gas shipping company and the owner and operator of a large fleet of 22 modern very large gas carriers, has previously received a revised unsolicited proposal from BW LPG to combine with Dorian.Dorian's Board of Directors will review all of BW LPG's actions and respond as appropriate in due course.

On April 28, the Panama Canal received the inaugural transit of the Neopanamax LNG Sakura en route from the U.S. to Japan. (Photo: Panama Canal Authority)

Panama Canal Sets Monthly Tonnage Record

Yesterday, for the third time since the inauguration of the Expanded Canal, the Panama Canal set a new monthly tonnage record of 38.1 million tons (PC/UMS) after facilitating the transit of 1,231 vessels in May 2018.The previous record was established in January 2017, when 1,260 vessels transited 36.1 million tons (PC/UMS) through the waterway, just a month after setting the record with 35.4 million tons (PC/UMS) transited by 1,166 vessels in December 2016.The containership segment contributed highest tonnage (36 percent)…

Photo: Port of East London

Port of East London to Expand its Petroleum Footprint

More than 100 attendees representing 97 companies have shown keen interest in the Port of East London’s plans to recommission an existing tank in the port for handling of liquid bulk and to introduce a liquid bulk terminal through a 25-year port concession awarded to a private, empowered entity.The companies attended a compulsory briefing on May 9, 2018 held by Transnet National Ports Authority (TNPA). TNPA recently advertised a request for proposals (RFP) – reference number TNPA 2017/01/013/CM – with the intention to appoint a terminal operator to finance…

Photo: Panama Canal Authority.

Panama Canal Lifts Daily Neopanamax Reservations to Eight

The Panama Canal announced that it has added an additional reservation slot to its Neopanamax locks, effective from Monday (May 07), bringing the total available booking slots to eight daily. The decision to offer additional capacity to shippers was made as a part of the Canal's routine careful planning and analysis to meet the increased demand at the interoceanic route, inaugurated nearly two years ago. Since then, the global maritime community has increasingly taken advantage of the time and cost savings afforded by the Expanded Canal.

(Photo: Dorian LPG Ltd.)

Dorian LPG to Repower Up to 10 VLGCs

Ship owner Dorian LPG Ltd. said it will look to upgrade the main engines of up to 10 of its very large gas carriers (VLGCs) to dual fuel technology utilizing liquefied petroleum gas (LPG) as fuel.The ship owner has entered into a memorandum of understanding (MoU) with marine service provider Hyundai Global Service Co., Ltd (HGS) to undertake research and preliminary engineering studies for the project.The initiative follows the conclusion of a study announced in September 2017…