• 2021 June 11 18:07

    LNG consumption as a marine fuel has almost doubled in 2020

    Risavika LNG increased 1.7 % week on week and was at 35.80 EUR/MWh for July contracts, according to the company's release. European gas prices remain bullish on tight supply. June is the maintenance period for many Norwegian supplies and French LNG terminals. Although there is no need for gas for heating, there is a demand for storage injections and power production, when the renewable production is low.

    Oil prices and refineries’ utilization have been increasing during last week. Oil product prices were also in rise despite the inventory build. Fuel oil 3.5 (FO 3.5) gained 6.7 % week on week to 390.22 USD/t, low sulphur oil (MFO 0.5) increased by 5.3 % to 500.37 USD/t, and marine gasoil (MGO 0.1) gained 2.7 % to 573.60 USD/t.

    LNG consumption as a marine fuel has accelerated in recent years, achieving a five-fold volume growth in less than five years, reaching 1.5 million tons in 2020 and almost doubling from 2019, according to International Gas Union (IGU) annual LNG report released last week. The positive trajectory of LNG, often seen as a viable alternative fuel for the shipping industry, was on the back of a higher number of LNG-propelled vessels and development of LNG bunkering capabilities in recent years. On average, over 20 LNG-propelled vessels were added each year since 2017. With an operational fleet of 175 and order book of over 200, increasing interest in the adoption of LNG-powered vessels is anticipated to drive additional growth in demand for LNG as a marine fuel in the near term.




2021 September 21

19:01 Grimaldi to launch the Civitavecchia-Arbatax-Cagliari service
18:05 RTCOMM and Konnect Russia agree to join hands in development of satellite communication services for sea and river ships
18:02 “K” LINE to procure 8 next-generation of environmentally friendly car carriers
18:01 Diana Shipping announces time charter contract for m/v Maera with ASL
17:54 ABS publishes guide to ammonia-fueled vessels
17:47 RTCOMM and Iridium join hands to develop mobile communication services to improve clients security in Russia’s hard-to-reach areas
17:37 AD Ports Group and the General Company for Ports of Iraq sign MoU to promote cooperation and investments
16:58 RTCOMM and KNS partner to expand ocean satellite communications services
15:36 Hydrographic survey vessel Gorizont returns from the Arctic expedition
15:11 MOL Group Adopts Car Carrier Operation Digital Transformation Promotion Project 'Mathematical Optimization': Part II
14:59 Wärtsilä signs five-year Optimised Maintenance agreement featuring latest digital innovations with STQ of Canada
14:07 New ESPO Green Guide 2021 outlines a vision for ports towards a green future
12:34 International Maritime Exhibition and Conference NEVA 2021 opens in St. Petersburg
12:12 AtoB@C Shipping orders six highly efficient 5,350 dwt hybrid vessels
11:52 Damen Shipyards Group set to develop its localization in Russia
11:31 Port Houston sets new record for containers in August 2021
11:05 ASD Tug 3010 Ice Arc4 series to be laid down for Atomflot in September 2021
10:58 Stena Line and Frederikshavn sign agreement for two fossil fuel free ferries by 2030
09:51 Average spot market price for Russian M100 product rose to RUB 25,185 pmt as of September 17
09:37 MABUX: Global bunker market turned into downward trend on Sep 21
09:33 Crude oil prices increase in expectation of Covid related restrictions to be eased
09:19 Baltic Dry Index as of September 20

2021 September 20

18:27 Strategic Marine announces new 42m Gen 4 Fast Crew Boat
18:07 FSG to build RoRo vessel with LNG propulsion for Australian company SeaRoad
17:45 Sovcomflot Board reviews Group’s results for H1 2021
17:26 Shell to build one of Europe’s biggest biofuels facilities at the Shell Energy and Chemicals Park Rotterdam
17:16 Maiden call of EMA service at Vado Ligure connecting Eastern Med with US East coast
17:00 Rosmorrechflot estimates Russia’s demand for technical ships in 2025-2030 at over 800 units
16:39 New DNV Naval Technical Assurance concept offers tailored solutions for naval verification
16:11 Vyborg Shipyard delivers second trawler of KMT01 design
15:25 IAPH launches Cybersecurity Guidelines for Ports and Port Facilities
14:39 FESCO acquires 300 new refrigerated containers of increased capacity
14:02 Boluda Towage celebrates naming ceremony for tug quartet
13:22 ABS study suggests dual-fuel newbuilds have the decarbonization advantage over conversion
12:53 International conference “Inland waterways: strategic potential for growth” kicked off in Saint-Petersburg
12:05 NAVTOR boosts development muscle with new base in Poland
11:58 Port of Oakland import volume edged up in August 2021
10:51 New study reveals vessels using Jotun HPS reported 20% lower carbon intensity in operations
10:12 4th International Conference “Development of Icebreaking and Support Fleet“ kicked off in Saint-Petersburg
09:41 Crude oil prices decrease as oil production resumes in the Gulf of Mexico
09:35 San Pedro Bay Ports announce new measures to speed cargo throughput
09:27 MABUX: Global bunker market is in a stable state on Sep 20
09:13 Baltic Dry Index as of September 17

2021 September 19

15:23 Austal names Rusty Murdaugh as Austal USA President
14:17 Parkwind selects Port of Mukran to become the O&M base for Arcadis Ost 1 wind farm
13:04 Babcock sells first new frigate design licence to Indonesia
11:37 USC repatriates 22 migrants to Cuba
10:56 South Louisiana ports advocate for federal aid post Hurricane Ida

2021 September 18

15:07 Energy-saving investments clear the way for shore-based power
13:49 GROUPE IDEC is developing the first XXL energy - positive activity park in Europe
12:41 IMOCA extends relationship naming Iridium and Thales as official communications partners
11:37 Tanguy de Lamotte will spearhead electric boat revolution in the US
10:49 Industry alarmed as spat between governments threatens investment in Scottish ports – BPA

2021 September 17

17:49 New radar post to increase navigation safety in the seaport of Kaliningrad
17:26 Svanehøj acquires Wärtsilä Tank Control Systems
17:06 Navigator Gas awarded DNV AiP for new ammonia fuelled gas carrier design
16:47 Zelenodolsk Plant named after M. Gorky launches small-size missile ship Grad
16:31 PIL launches new South China to India West Coast Service - South China India Express
16:05 De Beers’ latest diamond recovery vessel departs Damen Shipyards Mangalia for Southern Africa
15:46 Port of Melbourne CEO announces retirement