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  • 2022 August 4 13:41

    Shipping industry continues introducing LNG as key alternative fuel for new ships

    Total orderbook exceeds 500 vessels by 2028, twice as many as in-service LNG-fueled vessels

    The shipping industry continues introducing LNG as the leading alternative fuel for new ships.

    According to the DNV’s recent Alternative Fuels Insight (AFI) report, nine LNG-fuelled vessels were added to AFI platform in July making the total orderbook exceed 500 vessels by 2028, twice as many as in-service LNG-fueled vessels, Morcenter TFC says on its Telegram channel. 

    DNV says there are currently 313 in-service vessels operating on LNG, mostly with dual-fuel engines. The number has grown rapidly over the last eight years compared for example to 2014 when there were just 50 LNG-fueled vessels in service. The segment currently with the greater number of LNG vessels in-service is passenger ships and car ferries although the numbers are quickly rising for containerships, tankers, and offshore supply vessels.

    In addition, there are a further 229 vessels currently in service that are considered to be LNG-ready. Large operators have been slow to undertake conversions, in part waiting for the cost required for the conversion to decline to improve the economics of refitting the ships. Hapag-Lloyd completed in 2021 the first conversion of a containership that had been built LNG-ready and recently MAN confirmed that it has been contracted by Matson to undertake the refit of the first of line’s LNG-ready containerships.

    Martin Wold, DNV’s Principal Consultant for Alternative Fuels, said that although the growth in orders has slowed down somewhat in line with the general newbuild ordering activity, there are several large orders in the pipeline and there will be lots of additional orders for LNG-fueled ships for 2025 delivery and beyond.

    An analysis of DNV’s data shows that orders for LNG-fueled vessels surpassed 160 in the first seven months of 2022. Containerships are leading the orders representing half of the vessels being ordered followed by car carriers which make up another quarter of the orders. The shipping industry is embracing dual-fuel technology with 89 percent of the orders using these engines versus pure gas engines.

    Wold also highlights that the infrastructure is being developed for fueling LNG vessels. DNV’s data shows that the number of LNG bunker vessels reached 38 in-service this year. They also report that 18 additional bunker vessels are on order. They also believe that 18 additional LNG bunker vessels are under discussion. This is supporting the geographic expansion for the operation of LNG-fueled vessels. While Europe remains the largest area for LNG ships, DNV shows that global operations are the largest segment for the new orders.

    Related links:

    LNG bunkering demand and supply is growing - International Gas Union (IGU) >>>>

    Solid base of liquid fuel: LNG demand in shipping is on the rise >>>>

2022 August 12

17:02 NE China ports handle over 3,100 China-Europe freight train trips - The State Council the People's Republic of China
16:31 Russian Railways boosts loading of cargo bound for Azov-Black Sea Basin by 2.5% in 7M’22
16:24 Global container fleet to grow more than demand - Hapag-Lloyd CEO - Reuters
15:30 ZIM invested $5.5 million in provider of asset and fleet visibility solutions
15:03 Equinor’s H2H Saltend selected to proceed as one of the first large-scale hydrogen projects in the UK
14:58 Three new barges delivered cargo for construction of Amur Gas Chemical Complex
14:13 Grimsby River Terminal welcomes the first sustainable car carrier
14:03 CMA CGM service starts to call Yilport Gemlik
13:42 Maersk Drilling awarded two-month extension with TotalEnergies offshore Denmark
13:14 De Vlaamse Waterweg and Port of Antwerp-Bruges maintain the water level in the docks and the Albert Canal with a temporary pump installation
12:00 First Rijeka–Czech Republic direct cargo rail service established
11:55 Kazakhstan Transport Week will be held in Almaty from September 20-22, 2022
11:32 MacGregor has received a significant order to supply all-electric RoRo equipment to four PCTC vessels
11:02 Diana Shipping announces the acquisition of nine Ultramax dry bulk vessels from Sea Trade
10:42 First hydrogen bunkering license issued in the Netherlands
10:28 Throughput of Russian seaports in 7M’2022 declined by 0.2% YoY
10:20 Teekay сompletes the first ship-to-ship operations at Port Sudeste Brazil
10:09 Höegh Autoliners posts Q2 2022 results
09:31 ZeroNorth signs deal with X-Press Feeders to propel carrier’s decarbonisation strategy
09:16 Crude oil futures decrease after growing for two days
08:51 MABUX: Global bunker indices to keep rising on August 12
08:33 Pakistan Navy saves 9 Indian crew members after ship drowns - Geo News

2022 August 11

18:30 Valenciaport strengthens relations with the Chinese region of Fujian
18:05 Yang Ming publishes financial report for H1 2022
17:57 Yara Latvija opens a mineral fertilizer packaging and storage warehouse at “Riga Nordic Terminal”
17:26 KSOE lands LNG carrier order worth KRW2tn from Qatar - BusinessKorea
17:06 UECC signs up for Svitzer’s EcoTow solution in Scandinavia
16:51 Aleksandr Lukashenko gave instructions to make the maximum use of the Russian ports to ship Belarus’ goods
16:25 Saipem awarded three new EPC contracts in Angola for a total amount of around 900 million USD
16:05 Australian Maritime Safety Authority issues the Port State Control Annual Report for 2021
15:39 Maersk Supply Service wins another integrated solutions project in Brazil
15:14 Cleaning and dredging of water area near Moskva-river berths completed
14:48 Port of Tallinn closes operations in Paljassaare harbour
14:23 Germany's RWE widens global search for LNG supplies - Reuters
13:33 Nuclear-powered container ship Sevmorput came to Murmansk from Petropavlovsk-Kamchatsky
13:15 Dozens missing after migrant boat sinks off Karpathos, Greece - The Associated Press
13:02 MABUX: Bunker Weekly Outlook, Week 32, 2022
12:41 MacGregor receives an order to supply all-electric RoRo equipment to four PCTC vessels
12:12 Milaha reports a 46% increase in net profit for H1 2022
11:52 MAN Energy Solutions signs MoU with Stena and Proman
11:17 Aker Solutions to provide subsea production system for the Trell & Trine development
11:04 Hapag-Lloyd revenues up to EUR 17 billion in first half year of 2022
10:40 Equinor’s new floating production vessel Johan Castberg catches fire
10:33 EU ban on Russian coal imports comes into force - Deutsche Welle
10:01 Gubkin University supports 6th LNG Bunkering and Alternatives conference as its Industry Partner
09:41 QatarEnergy awards McDermott FEED contract for the North Field South Offshore Pipelines Project
09:40 Rosatom exercised option to purchase share in Delo Group and increased its stake to 49%
09:18 Crude oil futures decrease on surge of US reserves
08:59 MABUX: Uptrend to continue in Global bunker market on August 11

2022 August 10

18:37 Awilco LNG ASA enters a new time charter contract for the WilForce with an oil major
18:07 BHP, Pan Pacific Copper and Norsepower partner to harness the power of wind-assisted propulsion
17:55 Water area of Ust-Luga port’s southern district put into operation
17:46 Drydocks World-Dubai signs strategic partnership with Silverstream Technologies
17:26 US antitrust Commission seeks feedback on performance of exemption for liner shipping consortia
17:19 Throughput of port Shanghai (China) in 7M’2022 fell by 7% YoY to 291 million tonnes
16:52 STC INSISO secures six-figure contract extension with Peel Ports
16:40 The three major Korean shipbuilders account for 55% of global ship orders in July - BusinessKorea
16:17 “K” Line enters into long-term time charter with QatarEnergy for seven newbuilding LNG vessels
15:46 Crowley partners with EcoVadis
15:35 Port of Liepaja throughput in 7M’2022 rose by 16.8% Y-o-Y to 4.43 million tonnes