• 2024 April 10 12:43

    PetroChina plans to increase the number of LNG tankers to 25 by 2030

    China National Petroleum Corp., the country’s biggest natural gas supplier, will expand its fleet of ships that carry the fuel as it looks to enhance its role as a global gas trader, according to Bloomberg.

    CNPC’s trading arm, PetroChina International Co., plans to increase the number of liquefied natural gas tankers it has available to 25 by 2030, Wang Haiyan, the firm’s deputy general manager, said at a forum in Beijing on Tuesday.

    The company currently has six ships, according to Wang’s presentation. The additions would include those owned by PetroChina and others chartered on long-term contracts.

    The investment follows record annual profits at CNPC’s listed unit, PetroChina Co., which drew heavily on the state-owned firm’s dominance of the domestic gas market. It also indicates an ambition to compete with some of the world’s biggest energy traders in supplying the cleaner-burning fuel beyond China’s borders.

    China is the world’s biggest LNG buyer, but a rare drop in domestic consumption at the height of the pandemic in 2022 forced importers to shift their focus to other markets. Last year, PetroChina resold 12 million tons of LNG to over 20 countries, a sizable chunk of the 30 million tons it bought from overseas, said Wang.

    Even as Chinese demand rebounds, supply pressures are easing. Domestic production is at record levels, while Russian supplies, particularly via overland pipeline, are also growing apace. That’s creating more options for firms to trade gas.

    Chinese importers have locked up more LNG on long-term contracts in recent years. Contracted volumes accounted for 63 million tons in 2023, from total shipments of about 71 million tons, and the figure is expected to rise to 106 million tons by 2030, according to Wang.

    In the meantime, Wang said Russia will become China’s biggest supplier of gas this year, accounting for about 40 billion cubic meters, or 29 million tons. The Power of Siberia project is expected to deliver 30 bcm in 2024, from 22 bcm last year, before nameplate capacity of 38 bcm is reached in 2025. Another 10 bcm of Russian LNG should arrive this year by sea, he said.




2024 May 18

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2024 May 17

18:10 Bunker fuel sales at the Middle Eastern hub of Fujairah drop on a monthly basis in April 2024
17:52 Lloyd’s Register and Shandong Marine Group sign MoU
16:43 China reveals cooperation methods to protect and restore the Yangtze River
16:03 APM Terminals Barcelona holds the commissioning of 17 Konecranes NSC 644 EHY hybrid straddle carriers
15:13 Marine fuel demand in Panama declined in April 2024
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14:23 ILWU Canada agrees to delay serving 72-hour strike notice on employer DP World Canada
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13:10 Container shipping costs on EU-S. Korea route surge over 30 pct amid Red Sea crisis
12:43 DP World invests €130m in Romania
12:21 Astrakhan hosts Russia-Iran talks on shipping cooperation on International North-South corridor
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10:41 Electramar christened in Helsinki
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2024 May 16

18:11 Kongsberg and Torghatten to develop self-driving ferry service linking Trondheim and the Fosen peninsula
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16:35 Deltamarin and ECOLOG unveil LP LCO2 carrier design
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15:24 Scan Global Logistics and Hapag-Lloyd enter into major biofuel agreement in a new Green Collaboration
14:48 Edison Chouest feeder fleet for U.S. offshore wind market to be built to ABS Class
14:03 The Australian Government announces a funding package of $7.1 billion for budgeted programs to be administered by ARENA
13:54 The share of the idle container vessel fleet was 0.9% in April - Sea-Intelligence
13:25 The European Commission grants PCI status to CO2 value chain project developed by MOL with partners
12:14 HHLA's revenue decreased by 0.3 percent to € 363.6 millions in Q1 2024
11:42 MOL and TotalEnergies sign time charter contracts for 2 newbuilding LPG-fueled LPG carriers
10:40 Kalmar and Uniport Livorno agree on new terminal tractor order to enhance reliability, safety and service quality at Italian terminal
10:04 AMSA collaborates on a trial providing more recycling options for visiting foreign ships
09:59 SunGas Renewables and C2X announce strategic partnership

2024 May 15

18:07 MOL holds naming ceremony for newbuilding LNG carrier Greenergy Ocean to serve China National Offshore Oil Corporation
17:30 ClassNK and StormGeo mark significant collaboration to advance maritime decarbonization
17:02 Newly certified methanol valves to improve dual-fuel shipbuilding
16:45 HD KSOE to lease Subic shipyard in Philippines
16:25 Eidsvaag receives two forage carrier vessels designed and equipped by Kongsberg Maritime
15:58 ADNOC delivers first ever bulk shipment of CCS-enabled certified low-carbon ammonia to Japan
15:35 World's 1st wind challenger-equipped coal carrier achieves fuel savings of 17%
14:57 LR to support the retrofit of two Stena Line ferries to methanol
13:52 Port of Los Angeles nets record $58 million for harbor maintenance
13:32 CMA CGM to launch MCX - West Coast Central America
12:51 Port of Long Beach cargo volumes up 14.4% in April
12:21 First Ro-Pax vessel receives DNV Silent notation following successful sea trials with Wartsila propellers
11:41 Hapag-Lloyd transport volumes increased by 6.8 percent to 3 million TEU in Q1 2024
11:10 Cavotec signs two-year service agreement with Port of Salalah
10:41 China overtakes Korea in global shipbuilding competitiveness
09:58 The ports of Rotterdam and Delft join the CLARION project

2024 May 14

18:02 ICTSI to invest in new Southern Luzon gateway
17:31 ACL, BG Freight Line and Peel Ports Group start container service between Ireland and North America
17:10 Port of Hamburg is the first port in Europe to offer shore power for both container and cruise ships
16:31 Port of Gothenburg launches the platform "Digital Port Call"
16:18 NS United, NSY, Imabari Shipbuilding and Japan Marine United Corporation sign MOU for the construction of Cape-size bulk carriers using dual methanol fuel
15:56 Port of Antwerp-Bruges launches the world's first methanol-powered tugboat
15:29 The Ports of Barcelona and Shanghai will work together on innovation and decarbonisation projects
13:55 AD Ports Group announces Q1 results
12:58 NYK, NBP, TSUNEISHI SHIPBUILDING and Drax sign MOU to develop ‘bioship’ technology and plans to construct the world’s first biomass-fuelled ship
11:30 Maris Fiducia team up with HAV Hydrogen, Norwegian Hydrogen and Ankerbeer for zero emission bulk shipping
11:05 ABS and HD Hyundai Group sign MOU to advance medium-voltage power systems on ships
10:43 Finnlines’ new freight-passenger Superstar-class vessel Finnsirius awarded by Shippax
10:23 Kongsberg Maritime to design and equip two new salmon farm forage carrier vessels for Norwegian coastal cargo carrier Eidsvaag AS
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2024 May 13

18:00 Capital dredging commences for Lowestoft Eastern Energy Facility
17:06 Berlin’s oldest passenger vessel enters a new green era powered by Torqeedo
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16:18 Denis Manturov: Russian shipyards to deliver more than 110 civil ships this year
16:05 CMA CGM and China’s Contemporary Amperex Technology plan to set up joint venture