SEA\LNG announced another step forward in its aim to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel with the addition of Japanese companies K Line Group and Uyeno Group to its growing member roster.
With it looking almost certain that the IMO's 0.5% global sulphur cap will be enforced from 1 January 2020 the question of whether to fit scrubbers, switch to LNG, or simply use low sulphur fuel remains a complex one.
Mitsui OSK Lines (MOL) is looking to expand in Arctic shipping with an agreement with the Far East Investment and Export Agency (FEIA) on the development of the Northern Sea Route (NSR).
Shell is warning of a shortage of LNG by the middle of the next decade as buyers seek shorter-term contracts, but suppliers continue to seek long-term sales to secure finance for project development.
Athens-based ship management company TMS Cardiff Gas has recently signed a maintenance agreement with Wärtsilä that will ensure the maintenance predictability of the operation of four TFDE LNG Carriers in TMS Cardiff Gas’ fleet.
Defying difficult market conditions traffic in the world's busiest shipping lane, the Malacca Straits, continued to grow over the last three years hitting an all time high of 84,456 transits in 2017.
The potential of LNG for power generation is huge in Southeast Asia in particular as well as South Asia and an attractive proposition for many countries is a floating solution.
While 2017 was a tough year and with only slight prospects of recovery this year, the gradual recovery in the oil market suggests that the market will start to improve in 2019, MISC said.
