Outlook & Strategy
Avance Gas sells ammonia-ready dual fuel VLGC newbuilds
Norwegian shipping company Avance Gas has agreed to sell its two remaining 91,000 cbm dual fuel newbuildings scheduled for delivery next year. The company said that the two newbuildings would be sold for $240 million en bloc. The buyer of the vessels was not disclosed. The very large gas carriers (V
VTTI and Höegh LNG propose to develop FSRU-based energy terminal in Vlissingen port
Dutch energy infrastructure company VTTI and Norwegian owner and operator of LNG carriers and FSRUs Höegh LNG have signed an agreement to study options to develop and operate the FSRU-based Zeeland Energy Terminal in the Vlissingen port area in the Netherlands. Expected to become operational in the
GTT and CSSC team up to work on LNG shipping solutions
French LNG containment specialist GTT has signed a strategic agreement with China State Shipbuilding Corporation (CSSC) to cooperate on LNG shipping solutions. Specifically, the agreement provides for cooperation between GTT and twelve subsidiaries of the CSSC conglomerate, notably in ship design an
Masdar, Dutch firms advance hydrogen export plans to Amsterdam port
Abu Dhabi-based clean energy company Masdar and its Dutch partners Port of Amsterdam, SkyNRG and Zenith Energy Terminals have signed a joint study agreement (JSA) to assess the feasibility of a dedicated liquefied green hydrogen supply chain for Masdar-produced hydrogen to the port of Amsterdam. Und
The Sea Cargo Charter to revamp reporting ambitions
The Sea Cargo Charter (SCC) plans to revise its reporting ambitions, aligning its trajectory with emission reduction goals in response to the International Maritime Organization’s (IMO) revised greenhouse gas (GHG) strategy adopted during MEPC80 in July 2023. The SCC said it was set to expand its cu
Container shipping majors enter green fuel deals with Nestlé
Container shipping companies Hapag-Lloyd and CMA CGM revealed that they entered into collaboration with Nestlé, a Switzerland-based food & beverage company, aiming to advance cleaner shipping.
Hayfin unlocks $1 billion in shipping asset potential
Europe’s shipping investor Hayfin Capital Management has completed a fundraising process for its Maritime Yield strategy, attracting $400m in capital commitments for the fund. With the latest financing round, Hayfin will have the capacity to acquire up to $1bn of shipping assets when coupled with co
Euronav brings its ammonia-powered VLCC tally to three, adds two Suezmax orders to the mix
Belgian tanker company Euronav NV confirmed this morning that it has lifted the option for one more very large crude carrier (VLCC) at Chinese shipyard Qingdao Beihai and ordered two Suezmaxes at Daehan Shipbuilding in South Korea. The confirmation comes on the heels of shipbroker reports on the ord
BP joins hands with Indonesian company for LNG import project in East Java
UK’s BP Gas & Power Investments and Indonesia’s logistics and supply chain company PT AKR Corporindo have signed a joint development agreement to work on an LNG import project involving a regasification terminal in Java Integrated Industrial and Port Estate at Gresik, East Java, Indonesia (JIIPE). A
Minesto installs seabed anchor for Dragon 12 tidal energy device
Minesto has completed the installation of a drilled and grouted seabed anchor solution for the Dragon 12, at the company’s production site offshore in Vestmannasund, Faroe Islands.
COSCO Line to retrofit containership quartet to methanol
Following in the pioneering footsteps of Maersk, Chinese shipping heavyweight COSCO Line is embarking on a journey to retrofit some of its containerships for methanol propulsion. Namely, COSCO Line has partnered with compatriot China’s COSCO Heavy Industry Shanghai, a COSCO Group shipyard, to retrof
Alfa Laval fuel supply system for industry’s first methanol boxship retrofit project
Danish shipping giant Maersk has selected Alfa Laval’s fuel supply system FCM Methanol for its pioneering methanol retrofit project.
Amogy’s ammonia-to-power system completes technology verification with LR
The US-based ammonia power solutions company Amogy has completed its technology verification phase with the UK’s classification society Lloyd’s Register.
COP28: Reconciling great expectations with reality in a highly polarized world
A deep dive into COP28 and the clash between those calling for a phase-out of fossil fuels and the ones lobbying to keep oil, gas, and coal firmly entrenched in the energy mix.