LNG

Singapore's Maritime and Port Authority (MPA) issued data showing liquefied natural gas bunkering sales jumped in June and for the first half of 2024 as overall bunker sales increased for all fuel types because Red Sea shipping disruptions have led to longer voyages and higher expenses for shipowners.

European classification society DNV said there were a total of 29 LNG alternative-fuelled vessels added to its the database in August and September as the sector showed continued growth and lower LNG bunker prices in markets like Rotterdam helped to improve the shipping economics outlook.

Chinese shipyards are benefiting from the surge in orders for newbuilds from the liquefied natural gas sector and more LNG berths are being made available, while oil and petroleum product tankers and containership orders are also increasing.

Nippon Yusen Kabushiki Kaisha (NYK Line), a leading Japanese shipping company and FueLNG, a Singaporean joint venture, have completed the first bunkering in Singapore of an LNG-fuelled Pure Car and Truck Carrier (PCTC) as the Asian city state increases its LNG bunkering market presence.

March 7 (LNGJ) - Orders for alternative fuel vessels such as those powered by LNG picked up in February after a slump from the end of 2022. European classification society DNV said that there were 10 orders placed for LNG-fuelled vessels last month and all of them were containerships.

   However, there were also 22 orders for ships to be powered by methanol. DNV said that so far in 2023 the total order figure for alternative fuel vessels stands at 34. “LNG offers immediate an reduction of greenhouse-gas even when fossil LNG is used,” said Martin Wold, Principal Consultant in DNV’s Maritime Advisory business. “Building a methanol-fuelled vessel is less expensive, but green methanol will be needed sooner than green LNG and there is currently high uncertainty on future availability and prices,” Wold added.

Jan 9 (LNG) - Mitsui OSK Lines (MOL), MOL Ferry Co., Japan Petroleum Exploration (Japex) and Hokkaido Gas have signed two separate agreements between MOL and Japex and between MOL and the utility Hokkaido Gas for the supply of LNG fuel to two newbuild LNG-powered ferries in each port on the Oarai-Tomakomai route operated by MOL Group company MOL Ferry.

   “The LNG fuel supply is scheduled to start in 2025 when the ferries will enter service. Japex will supply LNG fuel to the ferries at the Port of Oarai in Ibaraki Prefecture and Hokkaido Gas will supply it at the Port of Tomakomai in Hokkaido through the truck-to- ship method,” they added.

Nov 25 (LNGJ) - Mitsui OSK Lines President and Chief Executive Takeshi Hashimoto said that his shipping company planned to order up to four LNG-powered cruise liners to expand into that market, where it only has one ageing and conventionally-fuelled ship. “We will build two ships at first, and if things go well, we are thinking of expanding to four,” said Hashimoto.

   MOL has an LNG carrier fleet and is a global leader in containerships through Ocean Network Express, owned jointly with Nippon Yusen Kaisha (NYK) Line and K-Line and has been enjoying healthy profits. “Our options have expanded greatly and cruise ships is a field that is growing in Japan and our rivals are luxury hotels and Japanese inns. We can also expect inbound demand from foreigners,” said the MOL CEO.

Accelleron Industries AG, a market leader in high-powered turbochargers used in LNG-fuelled ships, has been successfully spun-off from ASEA Brown Boveri (ABB), the Swiss-Swedish power technology group.

Accelleron’s shares are now trading on the SIX Swiss Exchange in Zurich under the ticker symbol “ACLN”.

The stock was first priced at 24.75 Swiss francs ($25.50) per share.

The listing follows the approval by ABB shareholders for the spin-off of Baden, Switzerland headquartered Accelleron at ABB’s extraordinary general shareholder meeting on September 7.

“As an independent business, Accelleron will now focus on implementing its own, independent growth strategy with an attractive cash generation profile,” said a statement.

“This will build upon Accelleron’s position as a market leader in heavy-duty turbocharging for the marine and energy industries,” it added.

The cruise liner “AIDAnova” was the first in its class to be operated on purely LNG fuel and uses Accelleron’s TPL-C turbochargers.

Legacy

“I am excited about the opportunities ahead, building on our 100-year legacy with ABB and our position as the market leader in high-power turbocharging,” said Oliver Riemenschneider, Chairman of Accelleron's Board.

“We have an impressive growth strategy driven by our leading technology and services offering, coupled with our commitment to research and development,” added Riemenschneider.

“I am confident that we are well positioned to take advantage of global megatrends and deliver compelling results for our stakeholders,” he stated.

The statement added that “sustainability” was at the center of Accelleron’s business as the company is a pioneer in reducing fuel consumption and improving the emissions profiles for customers.

“Accelleron is well placed to capitalize on the opportunities presented by renewable energy and sustainable transportation, with its best-in-class product portfolio, its leading R&D capabilities and its acknowledged innovation,” added company.

Oman, the LNG producer and exporter, has signed an exploration and production sharing agreement with UK major Shell and French company TotalEnergies to explore, appraise and develop natural gas resources at Block 11 onshore the Sultanate on the Arabian Peninsula.

Swiss company Burckhardt Compression, a specialist provider of LNG sector equipment and energy industry technology, reported a 44 percent higher order intake of 976.6 million Swiss francs ($1 billion) in the past fiscal year as global LNG and industrial energy activities increased.