• 2018 January 11 08:00

    Societe Generale becomes first financial institution to join growing SEA\LNG coalition

    SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, has announced the addition of the first financial institution to the coalition; Societe Generale. Joining a growing band of industry leaders from across the LNG value chain, Societe Generale brings an essential financial perspective to the group which aims to accelerate the uptake of LNG as a marine fuel, SEA\LNG said in its press release.

    Peter Keller, SEA\LNG chairman and executive vice president, Tote, said: “As the 0.5% global sulphur cap from January 2020 edges ever closer, the case for LNG as a marine fuel continues to gather momentum. Innovative financing is a core component to breaking down barriers to adoption and Societe Generale is at the forefront of developing frameworks to support this evolution. We are therefore delighted to welcome them to our growing coalition and look forward to benefiting from their extensive knowledge and experience.”

    Paul Taylor, Global Head of Shipping Finance, Societe Generale Corporate & Investment Banking, commented: “The use of LNG as a marine fuel is gradually becoming a global reality. In line with our wider environmental commitment to promoting greener solutions, Societe Generale recognises the benefits of LNG in lowering local pollution and greenhouse gas emissions, when compared with traditional marine fuels. Societe Generale wants to play a key role in supporting the SEA\LNG coalition to realise its goal of making LNG a viable maritime fuel for 2020 and beyond. This strategic membership will help develop a long-term financial framework which we hope will contribute to, and supplement, the work of other industry leaders in the LNG shipping value chain.”

    Societe Generale’s commitment to financing alternative solutions – which support the development of green maritime transport – is demonstrated by its pioneering involvement in the first transaction for the European Union’s recently instituted Green Shipping Guarantee programme. Societe Generale acted as the sole mandated lead arranger, lease investor, facility and security agent, hedge provider, and lender in a EUR 142.6 million French lease financing of “Honfleur”, the first LNG-powered ferry to be commissioned by Brittany Ferries, with a funded guarantee from the European Investment Bank.

    The bank’s “Sustainable & Positive Impact Finance” offer , demonstrates its capacity to innovate, as well as its pioneering spirit to develop financing solutions that integrate the environmental challenges of its clients.

    The addition of Societe Generale to the coalition further strengthens SEA\LNG’s collaborative membership which continues to leverage knowledge, networks, and real-life examples to obtain a competitive global LNG value chain for cleaner maritime shipping.

    About SEA\LNG

    SEA\LNG brings together key players from across the supply chain, including shipping companies, classification societies, ports, major LNG suppliers, downstream companies, infrastructure providers and OEMs (original equipment manufacturers) to address market barriers and transform the use of LNG as a marine fuel.

    SEA\LNG is a not for profit collaborative industry foundation serving the needs of its member organisations. SEA\LNG’s members include: ABS, Bureau Veritas, Carnival Corporation & plc, Clean Marine Energy, DNV GL, Eagle LNG Partners, ENGIE, Gas Natural Fenosa, GE, GTT, JAX LNG, Keppel Gas Technology, Lloyd’s Register, Marubeni Corporation, Mitsubishi Corporation, Mitsui & Co., Ltd., Novatek Gas & Power, NYK Line, Petronet LNG, Port of Rotterdam, Qatargas, Shell, Société Générale, Sumitomo Corporation, Total, TOTE Inc., Toyota Tsusho, Uyeno Transtech, Yokohama-Kawasaki International Port Corporation (YKIP), and Wärtsilä.

    SEA\LNG is guided by a board, which is led by chairman Peter Keller. Each member organisation commits mutually agreed human resources, data analysis and knowledge sharing in support of SEA\LNG initiatives and activities and financially contributes via a membership fee.

    The SEA\LNG coalition was established by Xyntéo, an advisory body which works with global companies to identify and implement collaborative initiatives that enable businesses to grow in a new way, fit for the resource, climate and demographic realities of the 21st century.

    About Societe Generale

    Societe Generale is one of the largest European financial services groups. Based on a diversified and integrated banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.

    Societe Generale has been playing a vital role in the economy for 150 years. With more than 145,000 employees, based in 66 countries, we serve on a daily basis 31 million clients throughout the world.


2018 January 18

18:01 ABP South Wales ports see strong growth in 2017
17:39 Russian Union of Water Transport Workers congratulates North-Western Shipping Company on its 95th anniversary!
16:24 Fincantieri signs cooperation protocol with the autonomous Region of Friuli Venezia Giulia and the trade unions
16:02 MABUX: Bunker prices wait for the new market catalysts
15:33 Port of Marseille Fos and HAROPA launch new rail shuttle
15:02 CMA CGM announces FAK rates from Asia to North Africa and from Asia to the Mediterranean
14:32 Unifeeder adds Vlissingen to its service
14:19 Three vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on Jan 17-18
14:02 Ocean Network Express receives all necessary merger approvals
13:50 RPK-Vysotsk-LUKOIL-II terminal received 10.06 mln t of export oil products in 2017
13:32 Part-load optimisation delivers significant fuel savings for MAN auxiliary engines
13:28 Van Oord supports V Forum of Dredging Companies as its Sponsor
13:12 Rolls-Royce announces strategic review of Commercial Marine operation
12:50 Kerch ferry line carried 5.71 mln passengers in 2017, down 4% Y-o-Y
12:31 Wan Hai Lines to launch Japan Express Service to Singapore Malaysia
12:08 Port of Amsterdam receives LME certification
11:59 Vroon awarded multi-year charter for two PX-121 platform-supply vessels
11:36 Chevron Shipping awards global oil and LNG contract to GAC
11:05 German LNG Terminal launches Open Season
10:27 Brent Crude futures price up 0.14% to $69.48, Light Sweet Crude – up 0.34% to $64.19
10:04 FSUE Morsviazsputnik congratulates North-Western Shipping Company on its 95th anniversary!
09:42 Port of Klaipeda (Lithuania) handled 43.17 mln t of cargo in 2017, up 7.5% Y-o-Y
09:19 Baltic Dry Index down to 1,164 points

2018 January 17

18:00 Federal Agency for Water Resources supports Hydraulic Engineering Structures and Dredging Congress
17:03 Diana Shipping announces time charter contract for m/v Phaidra with Uniper
16:48 Sweden's Minister of Infrastructure visited World Maritime University
16:34 DNV GL launches certification framework and recommended practice for Carbon Capture and Storage
16:03 JAXPORT hires new Container Accounts Director
15:50 Lotos shipyard lays down paddle cruiser of Golden Ring design (photo)
15:42 Norwegian Central Bank excludes Evergreen Marine, Precious Shipping, Korea Line and Thorensen Thai Agencies from the Government Pension Fund Global
15:21 Three vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on Jan 16-17
15:04 DNV GL launches new JDP to test biodegradable lubricants
14:49 Beginning of icebreaker assistance period announced at port Primorsk (Leningrad Region)
14:33 “K” Line Group announces name change of two ship management subsidiaries
14:11 Throughput of port Helsinki (Finland) up 14.2% to 14.27 mln t in 2017 (table)
14:03 SBM Offshore completes Turritella handover and transaction
13:25 Throughput of port Kavkaz up 40% to 44.293 mln t in 2017
13:08 OOCL christens the last in latest series of ‘G-Class’ containerships
12:54 Yevgeny Zagorodny steps down as Vice-President of United Shipbuilding Corporation
12:26 Coal exports via Rosterminalugol terminal hit 1 mln t milestone this year (photo)
12:01 The Port of Helsinki takes the top spot among European passenger ports
11:22 De Boer/Dutch Dredging and Iskes Towage take delivery of ASD 2310 SD at Damen Shipyards Hardinxveld
10:43 Port of Gdansk throughput up 9% to 40.6 mln t in 2017
10:19 Brent Crude futures price down 0.1% to $69.08, Light Sweet Crude – down 0.11% to $63.66
10:00 NOVATEK’s hydrocarbons production in 2017 totaled 513.3 mln boe, down 6.2% Y-o-Y
09:37 Bunker prices are flat at the Port of Saint-Petersburg, Russia (graph)
09:15 Baltic Dry Index down to 1,221 points
09:08 Hamburg Süd honored twice for sustainability
08:14 COSCO's container ship to receive cyber enabled ship descriptive note ‘Cyber AL3 SECURE PERFORM (Energy Management System)’

2018 January 16

18:21 Kommer Damen opens Damen Area Support China
18:08 DNV GL approves latest Kongsberg Digital Engine Room Simulators
17:49 Russian Railways: Loading of Russia’s export cargo bound for domestic ports up 6.4% Y-o-Y to 293.4 mln t in 2017
17:26 State stevedores of Ukraine handled 34.73 mln t of cargo in 2017, down 9.6% Y-o-Y
17:00 Andrey Lavrishchev’s report at Hydraulic Engineering Structures and Dredging Congress will focus on promising port projects
16:35 Installation of Belgian topside for offshore substation marks milestone in further construction of Merkur Offshore Wind Farm
16:04 Maersk Line announces increase in FAK rates from Northern Europe to Middle East and ISC and from Mediterranean to Far East
15:52 Jotun Paints congratulates North-Western Shipping Company on its 95th anniversary!
15:34 DNV GL launches new JDP to test biodegradable lubricants
15:04 TTS Group ASA secures contract with Cosco (Dalian) Shipyard for TTS cranes
14:45 New Delhi will host 5th edition of Oil Spill India Conference on 5-6 July 2018