• 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 December 18

18:21 Uniper SE and MOL enter into agreement on FSRU project in Germany, and one additional LNG transportation agreement
18:00 Throughput of Chinese ports grew by 4.3% to 8.47 billion tonnes in 11M’18
17:46 Rolls-Royce to deliver advanced ship technology to two more expedition cruise vessels for Mystic Cruises
17:43 Aircraft carrier HMS Queen Elizabeth enters LR class
17:27 SOL adds Finnish port of Pietarsaari/Jakobstad to the Zeebrugge route network
17:04 Finnpilot Pilotage BoD decided for no increase in the pilotage fees for 2019
16:42 GTT bags yet another tank design order for LNGC duo
16:38 PRA starts construction of new plastics recycling facility at the Port of Amsterdam
16:25 Arctia and Meritaito join forces to expand their range of services
16:09 Crowley integrates DFTS management into government solutions group to unify supply chain services
15:42 KN enhances its relations with American LNG giants
15:18 BW Group Limited purchased 137,000 shares
14:53 Icebreakers of FSUE Rosmorport assisted 680 ships in navigation season 2018-2019
14:28 Shell Oman and Port of Duqm ink agreement to develop fuel bunkering facilities
14:11 Golar LNG receives LNTP for an FLNG vessel for Greater Tortue / Ahmeyim Project P1, West Africa
13:47 WEG and Praxis sign MoU to support Damen Saab bid for the Brazilian Navy
13:41 Eni gets approval of the investment plan for Merakes Development Project in Indonesia
13:22 Sovcomflot closes USD 264 million long-term revolving credit facility
12:58 Bunker prices are flat at the Far East ports of Russia (graph)
12:40 Antwerp, Belgium will host the 3rd European Environmental Ports Conference on 12-13 June 2019
12:19 Keppel receives limited notice to proceed for GIMI FLNG
11:57 3 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on December 17-18
11:35 Terna’s MONITA HVDC Project: Nexans reaches key milestone with successful completion of submarine power cable
11:10 Container throughput of port Hong Kong (China) down 5.4% to 17.96 million TEUs in Jan-Nov’18
10:46 Bunker sales at the port of Singapore in 11M’18 down 1.8% Y-o-Y to 45.49 million tonnes
10:23 Maersk announces rate increase for Far East to North Europe trade
10:05 Brent Crude futures price down 1.53% to $58.72, Light Sweet Crude – down 1.61% to $49.39
09:47 Austal export opportunity supported by Australian Government financing
09:31 Rosatom drafted Rules for providing navigational and hydrographic support in NSR waters
09:14 Baltic Dry Index is up to 1,406 points

2018 December 17

18:23 Sembcorp Marine retains its position as Asia’s top cruise ship repair and upgrade solutions provider with newbuilds projects delivered in 2018
18:02 USPA announced tenders for dredging in Mariupol and Berdiansk seaports
17:48 SITC holds naming and delivery ceremony for M/V SITC SENDAI
17:37 ONE to implement LSF surcharge in China and Taiwan
17:15 NCSP Group's consolidated cargo turnover for January-October totaled 116,946 thousand tons
16:41 Moody's reaffirms Panama Canal's A2 long-term rating with stable outlook
16:26 Port of Oakland shatters 11-year-old record for November imports
15:54 Yamal LNG will build one more natural gas liquefaction facility
15:27 Nor-Shipping and Nordic Innovation team up for “Sea Meets Land” funding initiative
15:17 PETRONAS releases Annual Activity Outlook report for 2019-2021
14:56 NOVATEK elects a new member to the Management Board
14:37 Average wholesale prices for М-100 HFO down to RUB 15,328 in RF spot market
14:13 Damen’s triple delivery for Murjan Al Sharq Marine Contracting
13:41 Pacific Fleet and Indian Navy warships practice inspection operation as part of Indra Navy 2018 Russian-Indian naval exercise
13:19 Queen Máxima christens Van Oord's TSHD Vox Amalia
12:58 9 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on December 16-17
12:36 Samsung Heavy Industries secures yet another contract for an LNGC
12:23 Saab secures shipping safety contract for Shangai container port
12:00 Composit supports the 6th Forum of Dredging Companies as its Sponsor
11:42 Milaha unveils large plans to upgrade its shipyard in Mesaieed
11:01 IBIA welcomes decision by IMO’s MSC to add new item to its agenda to address concerns about fuel safety
10:43 SENER to design passenger vessel for Tanzanian ferry operator
10:17 Brent Crude futures price down 0.02% to $60.27, Light Sweet Crude – up 0.21% to $51.58
09:58 Port of Singapore throughput in 11M’18 grew by 0.4% Y-o-Y to 575.44 million tonnes
09:40 Floating regasification plant “Marshal Vasilevsky” arrives in Kaliningrad
09:15 Baltic Dry Index is up to 1,401 points

2018 December 16

16:09 Navios Acquisition completes acquisition of Navios Midstream
15:23 Thun Tankers names environmentally adapted tanker Thun Evolve
13:21 Traxens trials IoT network in port environment for first time, at MSC Terminal Valencia
12:32 Executives must watch both sea and air amid trade war tensions, warns Xeneta