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.

Royal Vopak, the Dutch operator of global energy storage assets, reported a strong first quarter and an increase in net profits as it broadened its activities around the world and planned an LNG import terminal in South Africa.

Singapore wealth fund Temasek is close to completing a seven-month long sale process for the Asian island nation’s Pavilion Energy set up by Temasek in 2013 to develop liquefied natural gas assets.

The Maritime and Port Authority of Singapore has issued the annual bunkering data from the Asian city state’s world-class shipping fuel industry listing Equatorial Marine Fuel Management Services as the top bunker supplier in the hub where LNG fuel is also growing in importance and with the fuel suppliers Trafigura and Sinopec taking second and third spots.

FueLNG, a joint venture between Seatrium Offshore & Marine and Shell in Singapore, has completed its 100th ship-to-ship (STS) LNG bunkering operation as demand from LNG-powered vessels increases along with the expanding global fleet.

French liquefied natural gas maritime storage tanks designer GTT and its smart-shipping brand have signed a Technical Services Agreement (TSA) with the France-based containerships operator CMA CGM Group covering 49 LNG-powered vessels.

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.

Chevron Corp. has said liquefied natural gas was a key component of the energy transition on land and at sea and plans to upgrade its fleet of 10 LNG carriers at the Singapore shipyard of Sembcorp Marine Ltd.

Chevron through its subsidiary Chevron Shipping Company has signed an agreement with Sembcorp Marine Repairs & Upgrades, a unit of Sembcorp Marine, to help reduce the carbon-intensity of its LNG fleet operations.

“Under the agreement, with Sembcorp Marine’s support, Chevron will install new technologies aboard Chevron vessels to support their energy transition goals,” said a statement.

“The changes are also in alignment with decarbonization targets set by the International Maritime Organization,” Chevron added.

Chevron Shipping operates a fleet of around 30 ships from conventional crude and petroleum product carriers to LNG carriers.

In addition to providing marine transportation for the company, Chevron Shipping provides technical, commercial and operational support to projects such as the Gorgon LNG and Wheatstone LNG export plants in Western Australia.

LNG technologies

Chevron said its LNG fleet plans included installing new technologies such as a reliquefication system, hull air lubrication and new gas compressors.

The company expects that all these measure together are expected to reduce cargo boil-off, lower fuel consumption and increase volumes of cargo delivered.

“We are excited to work with Sembcorp Marine to help us advance our lower carbon goals,” said Mark Ross, President of Chevron Shipping.

“We believe LNG will be a key component of the global energy transition for years to come and Chevron is focused on continuing its disciplined capital investment in our LNG fleet,” added Ross.

Chevron stated that Sembcorp Marine had significant expertise in complex LNG fleet modifications and a proven track record for lower carbon solutions for the maritime industry.

The Singaporean company will provide Chevron with engineering, procurement, installation and commissioning services and expects to complete the work by mid-2025.

“Sembcorp Marine is committed to advancing environmental sustainability through the development of industry-leading solutions,” said Wong Weng Sun, Sembcorp Marine President and Chief Executive.

“Working with Chevron on its LNG fleet upgrades is an immediate way to accelerate the lowering of the carbon footprint in the maritime industry, to achieve the IMO’s target to reduce emissions from international shipping by at least half,” added Wong. 

European maritime classification society DNV said that liquefied natural gas-powered vessels led the way among the 275 newbuild orders made during 2022, though the start of 2023 has seen a muted market for LNG-fuelled orders even as Rotterdam bunkering prices tumbled.

Singapore’s main LNG company Pavilion Energy and the biggest Chinese LNG importer, China National Offshore Oil Corp., have signed an accord for strategic cooperation on LNG bunkering from Northwest Europe to China’s coastal areas.