Indonesia’s PT Pertamina International Shipping (PIS) and BGN International DMCC in Dubai have inked an agreement to set up a very large gas carrier (VLGC) joint venture.

Dubai-based Lila Global, the shipowning subsidiary of the world’s largest cash buyer of end-of-life ships, GMS, has appointed Stephen Kunzer as its new CEO.

Major changes to chartering behaviour, shifts in tanker trade lanes, and an increase in off-market fixtures changed the tanker market dramatically following Russia’s invasion of Ukraine last February.

Vopak has announced a joint venture based around a technology which allows hydrogen to be stored and transported in fossil fuel infrastructure.

China Merchants Industry and an undisclosed European owner have entered into a contract for the construction of four 180,000 cu m LNG carriers plus four options.

The IMO’s carbon intensity regulations, specifically the carbon intensity indicator (CII) in place since 1 January, are likely to have a dramatic impact on LNG fleet supply which could lead to ‘stranded’ assets later this decade.

The Panama Ship Registry and the tanker company Euronav Ship Management (Hellas) Ltd., have signed a Memorandum of Understanding (MoU) aiming at promoting opportunities for Panamanian seafarers on board Euronav vessels.