Norwegian LNG provider Skangas sees demand for LNG is on the rise in Nordics Marine Market, and the driving force behind this rise rests in supply to new vessels both in regular routes and in tramp/spot market. ‘The market has been waiting for the LNG bunkering vessels’, said the company, as LNG is the cleanest available marine fuel.
US crude oil exports grew to an average of 1.1 million barrels per day in 2017, the second full year since restrictions on crude oil exports were removed. Crude oil exports in 2017 almost doubled in 2016, supported by increasing domestic crude oil production and expanded infrastructure, according to EIA.
The US Department of Energy has announced up to $32.5 million in federal funding for cost-shared research and development to advance solid oxide fuel cell technologies. SOFC R&D aims to create efficient, cost-effective electricity generation from domestic coal and natural gas resources, with minimal use of water and near-zero atmospheric emissions of carbon dioxide and pollutants.
In 2018, global oil demand is expected to increase by 1.5 mb/d, reaching 99.3 mb/d, from the estimated 97.8 mb/d in 2017, IEA said on its new Oil Market Report. The demand growth increase was the only significant change in the past month, with crude oil prices relatively stable for several weeks.
More than 90% of the world’s shipping fleet will comply with IMO sulphur cap entering into force in 2020, while only about 9% of the industry is likely to be non-compliant as the rule comes in effect, said the London-based oil and gas major BP, amid industry concerns of potential non-compliance.
Scrubbers will only play a minor role by the implementation date of the IMO 0.5% sulphur cap, in 1 January 2020. With this view in mind, there will be a significant demand shift across the barrel in less than two years’ time and fuel oil trade will be fundamentally affected, Gibson said in its weekly report.
As Sri Lanka Ports Authority Chairman Dr. Parakrama Dissanayake said, a Memorandum of Understanding between Sri Lanka, Japan and India on a LNG terminal and Floating Storage Regasification Unit will be signed next week and the feasibility study will begin soon.
More investments are required for FLNG projects, in order to ensure project sanctioning and success. Despite the FLNG liquefaction long presences, only three units are in the water and operational or under commissioning as of 2018.
Energean Oil & Gas announce that Energean Israel signed a Senior Credit Facility of up to $1.275 billion with Morgan Stanley, Natixis, Bank Hapoalim and Societe Generale as Mandated Lead Arrangers. The Facility Agreement will fund the development of the Karish offshore gas field over the next three years, with first gas production expected to set out in early 2021.
- Cyber Security
Cyber security in the EU GDPR framework22/03/2018
WLPGA heralds LPG as an ideal propulsion fuel in the marine industry22/03/2018
- Green Shipping
New collaboration to promote electric shipping22/03/2018
UK shipping to face many changes in the future22/03/2018
Watch: Aerial view of capsized 'Britannica Hav'22/03/2018
A trade war can damage shipping industry22/03/2018
Most sulphur ECA violations noted in English Channel22/03/2018
Europe's biggest shipping nations among the worst in climate talks22/03/2018
Salvage on vessels carrying pollutants increased in 201722/03/2018
- Loss Prevention
Cargo misdeclaration is the cause for many container fires22/03/2018