• 2019 December 12 16:26

    Klaipėda LNG terminal welcomed three large and four small LNG vessels in November

    Under the operation of KN, the operator of oil and liquefied natural gas (LNG) terminals, volumes at Klaipėda LNG terminal improved significantly in November, potentially reducing Lithuanian gas prices. In the last month of autumn, the volume of gas re-gasified at LNG Terminal was one-fifth higher than the volume of gas consumed nationwide. The gas price for Lithuanian consumers could be reduced as a result of collecting significant revenues for re-gasification of the gas for export.
    In November, a total of three large and four small LNG vessels arrived at Klaipėda LNG terminal, bringing 450 thousand cubic meters of LNG. Most of the gas (92%)  was delivered from a gas liquefaction plant in Norway. In total, about 2.7 TWh of gas was re-gasified in November, or 20% more than the entire need of Lithuania.
    As of the beginning of 2019, the LNG terminal has carried out as many as 57 LNG loading and reloading operations, and the regasification rate for January-November 2019 is more than double the amount for January-November of 2018, with a total of 17.4 TWh of gas re-gasified by the end of November.
    “The fifth operational year of Klaipėda LNG Terminal was a turning point for both consumers and the entire industry, said Arūnas Molis, the director of KN Klaipėda LNG office. 
    “Firstly, the terminal has handled more loading operations than over the last four years combined and attracted two users of the Terminal from Estonia. By using the services of the terminal, they directly reduce the security component for Lithuanian consumers. Second, due to the above circumstances and lower terminal costs, the National Energy Regulatory Council has been able to reduce the security component by nearly 4 million euros. The introduction of a new LNG supply model would further reduce the security component by almost 27 million euros. As a result, every gas consumer in the country will benefit as early as next year. Third, companies that import record amounts of gas through the terminal and their customers utilised the low price period in international gas markets as best as possible: preliminary calculations, comparing the market index and the Finnish regulator’s data, show that gas price from a single pipeline supplier for Finland in November was about EUR 5/MWh higher than the price of imported LNG in Lithuania. As a result, the same amount of gas imported at the terminal (2.7 TWh) saved the terminal users more than 10 million euros in November alone, even if all costs of the terminal are included.” 
    It is planned that the utilization of Klaipėda LNG terminal will remain extremely high during the last month of this year and in the upcoming years. Two large and five small LNG vessels will arrive in December, which will bring about 328 thousand cubic meters of LNG and the re-gasification rate will be about 2.2 TWh. Over the gas year of 2020 (from October 2019 to October 2020), users of the terminal will have booked re-gasification capacity in a total of over 19 TWh. This compares favourably to a total of 14TWh of gas which was re-gasified during the 2019 gas year (October 2018 to October 2019).
    The efficient operation of the LNG terminal recorded in Klaipėda also reflects international trends. According to McKinsey & Company, the global gas market has grown 5.3% over the past year and is expected to grow 0.9% annually till 2035. The LNG segment is considered to be extremely promising - its growth is projected to be 3.5% annually till 2035. In addition, the European Association of Transmission System Operators for Gas (ENTSO-G) predicts that by 2025, a transforming power generation market alone will increase demand for natural gas to 290TWh.

    “The increasing demand for natural gas in the world and in Europe opens up new opportunities for Klaipėda LNG terminal as well,” said Arūnas Molis.
    “The natural gas infrastructure planned to be implemented in the upcoming years, connecting Poland and Lithuania as well as the Baltic States and Finland with other European Union countries through pipelines, will bring even more benefits to the Lithuanian population and efficient operation of the terminal. In addition, at the end of November, KN entered into a strategic partnership with the Polish oil and gas company PGNiG, which booked the capacity of the Klaipėda LNG Distribution Station for five years, this capacity will be used with maximum efficiency, while at the same time developing and expanding LNG market in Baltic countries and in Poland.”

2020 May 31

16:57 RINA: shareholders’ meeting approves the financial statement for 31 December 2019 and appoints a new Board of Directors
15:31 Board appoints non-executive director at V.Group
14:48 MM&P seeks help from Congress in battle to repatriate offshore crews
13:24 Svitzer A/S names new CEO
12:31 Subsea 7 announces cost reduction measures
10:52 Drydocks World begins second project for the Hollandse Kust Zuid Windfarm

2020 May 30

16:23 APL England master faces charges over shipping container loss
15:27 Xeneta Container Rates alert: continued global uncertainty hits rates, but worst fears yet to be realised
14:32 EC approves €600 million Finnish guarantee scheme to support maritime companies affected by the coronavirus outbreak
13:12 Bollinger Quick Repair takes delivery of new dry-dock “Mr. Eddie”
11:47 Sanmar and Svitzer deliver power and performance to Port of Sohar
10:58 Coast Guard Cutter James seizes 3,350 lbs of marijuana off Central American

2020 May 29

18:36 Port of Marseille Fos to constuct a new international ferry terminal
18:20 Sea Port of Saint-Petersburg boosts its infrastructure investments by 40%
18:06 PIL starts a new India Service - China India Express (CIX)
17:51 Petrotrans takes delivery of lead ship of Project RSD59
17:36 Rolls-Royce seals major contract covering complete MTU propulsion systems for Royal Navy Type 31 frigates
17:14 United Shipbuilding Corporation developed its own cargo ship design
17:06 ECSA welcomes TRAN opinion on future EU-UK partnership and urges rapid advancement of the talks in view of the looming deadline
16:15 Port Authorities pledging support to keep ports open during COVID-19 more than doubles within a month
15:52 Market of seaborne cargo transportation for wind farms is stable and expected to grow
15:46 Viking Line starts a passenger service from June 1
15:05 KiwiRail orders two new ferries
14:49 Admiral Makarov University introduced new GMDSS simulator class
14:05 Bollinger Shipyards delivers the USCGC MYRTLE HAZARD to the U.S. Coast Guard
13:41 Smart Delta Resources launches project to substantially reduce CO2 emissions in Scheldt-Delta region
13:09 Record engine powers world’s largest containership
12:48 Large amphibious ships of RF Navy's Black Sea Fleet conducted comprehensive exercise in sea training ground
12:30 Navigation season opens on Upper Lena and Lower Lena rivers
12:09 Global shipping body addresses the health concerns of seafarers during the COVID-19 pandemic
11:26 Vimpel Shipyard launches coast guard boat Lamantin of river-going design
11:03 LNG STS bunkering – ‚First-off‘ operations in France, Germany and Norway
10:28 Oil prices fall by over $1
10:09 DP World joins with TradeLens to digitize global supply chains
09:53 Bunker prices are stable at the port of Saint-Petersburg, Russia
09:35 Baltic Dry Index on May 28
09:20 Konecranes to deliver third mobile harbor crane to South Australia
09:17 MABUX: Bunker market this morning, May 29
08:46 CMA CGM announces FAK rates from Asia to North Africa, Mediterranean and North Europe

2020 May 28

18:37 CMA CGM ends ESS from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
18:07 PortXchange results in shorter idle times on departure at APM Terminals Rotterdam
17:24 Independent Container Line starts new service from Cork to USA
17:20 Antwerp@C investigates potential for halving CO2 emissions in Port of Antwerp by 2030
16:49 Nevsky Shipyard launches lead ferry of Project PV22, Admiral Gennady Nevelskoy
16:17 Finland's new Water Traffic Act enters into force in June
16:05 Lubrizol joins the Getting to Zero Coalition
15:56 Wärtsilä high-efficiency propulsion solutions selected for special high-speed ferry
15:46 ABP keeps Britain trading in the safest way possible
15:02 Bunker prices show no considerable changes at the Far East ports of Russia (graph)
14:38 Bunkering tanker intended for Baikal lake delivered to the customer
14:00 WinGD wins type approval for biggest and most powerful ever dual-fuel engines
13:00 Gasum partners up with the sustainable transport solution provider company Samskip
12:30 More Konecranes BOXHUNTER RTGs to Vietnam
12:00 Konecranes and Fluidmesh join forces to deliver world-first 100% wireless Automated Rubber Tired Gantry crane system
11:30 EPS and Equinor set sights on a trio of newbuild LPG dual-fuel vessels
11:09 Boskalis awarded two dredging contracts in Finland
10:51 Oil prices continue going down
10:30 DNV GL releases first ever traceability standard for reclaimed plastic
10:09 Port of Stockholm announces arrival of the first container ship at Norvik Port
09:44 CMA CGM announces Overweight Surcharge (OWS) from Asia to North Europe