Clean Fuel
BP profits surge
UK-based energy giant and LNG player BP reported a surge in its fourth-quarter earnings boosted by higher oil and gas prices and a rise in production from new projects. BP’s underlying replacement cost profit, the company’s version of net profit, was at $2.1 billion, compared with $400 million in th
MAN Diesel & Turbo, Hyundai join forces on LPG engine
Germany’s MAN Diesel & Turbo has signed a memorandum of understanding with a unit of the South Korean shipbuilding giant Hyundai Heavy Industries for the development of liquefied petroleum gas (LPG) dual-fuel engines. Under the deal, MAN Diesel & Turbo and Hyundai Heavy Industries Engine & Machinery
Interview: Dunkirk LNG arrivals expected to double in 2018
France’s Dunkirk LNG import terminal, the country’s fourth regasification facility, could double the number of ships calling at the facility this year, boosted by the volumes from Russia’s Yamal project in the Arctic. Dunkirk LNG terminal started commercial operations in January 2017, following more
Top news of the week Jan 29-Feb 3
Hyundai Heavy scores $500 million contract for Steelhead LNG’s export project in Canada South Korean shipbuilding giant Hyundai Heavy Industries said it had won a contract worth about $500 million for a liquefaction unit to be used for Steelhead LNG’s Kwispaa LNG export project in Canada’s British C
WoodMac: four trading houses shaking up the LNG industry
Four trading houses traded an impressive 9 percent of total liquefied natural gas (LNG) sold worldwide in 2017, according to a report by the research and consultancy group Wood Mackenzie. Trafigura, Vitol, Gunvor and Glencore are “dominating” the LNG trading landscape and these four firms traded abo
Video: road to delivery of LNG carrier Patris
The 173,400-cbm liquefied natural gas (LNG) tanker Patris was recently delivered to its owners by shipbuilder Daewoo Shipbuilding & Marine Engineering in South Korea. The LNG vessel was ordered back in 2015 by a joint venture comprising of “K” Line LNG Shipping, a unit of the Japanese shipping major
Teekay takes delivery of its 1st Arctic LNG tanker
Teekay has taken the delivery of its first Arctic liquefied natural gas (LNG) carrier, the 172,000-cbm Eduard Toll. Eduard Toll is the fourth of 15 Arc7 LNG carriers being built for the Novatek-operated Yamal LNG project in Russia and Teekay’s first of six newbuildings contracted to service the proj
Croatia moving forward with Krk LNG import project
Croatia is determined to speed up the process of setting up the country’s first liquefied natural gas (LNG) import terminal on the island of Krk. In that regard, the Croatian government adopted a special law during a cabinet session on Thursday. The Balkan country declared the LNG import terminal as
Van Oord launches its first LNG-powered vessel
Dutch dredging specialist, Van Oord has launched a new crane vessel, powered by liquefied natural gas (LNG), in the Waalhaven in Rotterdam. This is the first LNG-powered vessel in the Van Oord fleet. “The vessel will contribute to the further modernisation of Van Oord’s fleet and therefore mark the
Shell’s Q4 profit surges, LNG sales rise
Profits at the Hague-based LNG giant Shell more than doubled in the fourth quarter, driven by higher oil, gas and LNG prices. Shell’s earnings on a current cost of supplies (CCS) basis rose to $4.3 billion, or 47 cents per share, for the three months ending in December, topping analysts’ forecasts.
Wartsila order intake climbs, sees improved marine industry outlook for this year
Finnish engine maker Wärtsilä reported a 14 percent rise in quarterly order intake as it expects more growth opportunities in 2018, mainly in the company’s service business. Wärtsilä’s bookings of new orders in the fourth quarter rose to 1.51 billion euros ($1.87 billion). For the full-year of 2017,
Drewry: slippages from 2017 to prevent LNG charter rates recovery
Increasing vessel supply will keep liquefied natural gas (LNG) charter rates under pressure in 2018, despite strong growth in trade, according to a report by the shipping consultancy Drewry. Drewry’s short-term outlook for LNG charter rates remains pessimistic because of the high fleet growth rate c
France’s Dunkirk terminal in first LNG reload
France’s Dunkirk LNG import terminal, the country’s fourth regasification facility, has performed its first-ever reloading operation. The cargo of previously imported liquefied natural gas was loaded onboard Engie’s LNG carrier, the 153,000-cbm Provalys. The LNG carrier arrived just a day after the
BHGE and TechnipFMC join forces on LNG apps
TechnipFMC and Baker Hughes, a GE company (BHGE) have signed a new agreement to collaborate on the development of digital applications for the liquefied natural gas (LNG) industry. The objective of the applications is to “improve LNG plant operators’ ability to reasonably predict when equipment will