Maritime News

Drought in Chinese City Spurs Gas-Fired Power Plant Load

China’s LNG imports from Russia reached a 22-month high of about 611,000 mt in August, shipping data from S&P Global Commodity Insights showed, due to China’s continued reliance on Russian cargoes despite Western sanctions following Ukraine’s invasion, reports SP Global.

A 22-month high

The Yamal cargoes are estimated to be mostly term contract volumes with about 15.7 million mt/year contracted out of the 16.5 million mt/year volume, while the Sakhalin cargoes were bought in the spot market via...

https://mfame.guru/drought-in-chinese-city-spurs-gas-fired-power-plant-load/

1MW Fuel-Cell Power Generation System To Become A Reality Soon

Toyota and the US Department of Energy are working on a prototype 1MW fuel-cell power generation system which could eventually be a drop-in replacement to a conventional generator, reports DCD.

A 1MW fuel cell

The DOE’s National Renewable Energy Laboratory (NREL) in Arvada Colorado, is working with Toyota Motor North America to install and evaluate a 1MW proton exchange membrane (PEM) fuel cell power generation system at NREL’s Flatirons Campus.

The announcement comes after Microsoft, working...

https://mfame.guru/1mw-fuel-cell-power-generation-system-to-become-a-reality-soon/

Maritime Forecast to 2050

To tackle decarbonizations’ ultimate challenge of carbon-neutral fuel availability, supply chains must be built through cross-industry alliances, says a press release on DNV website.

Zero-emission fuels

As the entire world seeks to decarbonize, the maritime industry is owning its part in ensuring our greener future.

The search for the best alternative fuel options and technologies have started. But available energy sources, needed to produce zero-emission fuels, must be used sensibly and with...

https://mfame.guru/maritime-forecast-to-2050/

OPEC+ Cuts Oil Production By 100,000 b/d Despite Tight Market

  • Decision brings output targets to August levels
  • Next meeting Oct. 5, but group says can reconvene ‘anytime’
  • Many OPEC+ countries struggling to hit quotas already

Wary of a global economic slowdown, OPEC and its allies will trim their production quotas by 100,000 b/d in October, despite what appears to be a tight physical market, as the group seeks to put a floor under slumping oil prices, reports Platts.

OPEC+ countries struggling to reach their quotas

The decision, made in yet another brief...

https://mfame.guru/opec-cuts-oil-production-by-100000-b-d-despite-tight-market/

Singapore To Trial Integrated Construction Park at Jurong Port

Singapore’s first integrated construction park, located at Jurong Port, will be operational from December 2022, reports Channel News Asia.

It will bring together key supply chain players in the construction industry, making it easier for them to collaborate, as well as share resources and facilities. These include storage yards and ready-mix concrete batching plants.

Industry Transformation Map

The integrated construction park is one of several initiatives that form part of a new Industry...

https://mfame.guru/singapore-to-trial-integrated-construction-park-at-jurong-port/

Woodside, Uniper Inks An European LNG Supply Deal

Australia’s Woodside has entered into a flexible long-term sale and purchase agreement with German energy firm Uniper to supply LNG from its global portfolio into Europe, including Germany, reports LNG Prime.

About the deal

According to a joint statement on Monday, the supply would start in January 2023and last up to 2039.

Under the deal, Woodside Energy Trading Singapore would supply up to twelve cargoes per year, equivalent to more than 0.8 million tonnes per annum or one billion cubic meters of...

https://mfame.guru/woodside-uniper-inks-an-european-lng-supply-deal/

Diverted Russian Tanker Create Spark In Columbia

  • Russia’s invasion of Ukraine has restricted its oil market.
  • Cuba has increased imports from Venezuela, Russian and other countries to cover fuel losses aggravated by a deadly fire.
  • A tanker from Russia carrying 300,000 barrels of diesel toward Cuba anchored off Columbian waters.
  • The tanker indicated Cartagena as its intended destination but later changed its course to Matanzas Terminal in Cuba.

A Russian Tanker had diverted from Columbian waters to Cuba, reports biz.crast.net

The Russian Diesel...

https://mfame.guru/diverted-russian-tanker-create-spark-in-columbia/

GAC Receives ‘Best Ship Agent’ At 16th ShipTek International Awards

A recent news article published in the GAC website states that GAC named ‘Best Ship Agent’ at 16th ShipTek International Awards.

GAC has been named ‘Best Ship Agent’

GAC has been named ‘Best Ship Agent’ at the 16th ShipTek International Awards in recognition of the Group’s consistently high standards of service, as well as its environmental and safety compliance amid a challenging global environment.

The award, which was received by GAC Group Marketing Manager Maria Angelidou in Athens, Greece, on...

https://mfame.guru/gac-receives-best-ship-agent-at-16th-shiptek-international-awards/

This Shipping Giant Switches To Methanol Fuel!

Leading tankers’ major, Ardmore Shipping may consider ordering new ships with an option to run on methanol fuel, a senior company executive told S&P Global Commodity Insights.

Alternative fuel

The NYSE-listed Ardmore could also consider ordering new buildings with methanol as a fuel type, he said. Ardmore has one of the youngest tanker fleet in the world with an average age of around six years. It operates around 22 South Korea and Japan built product and chemical tankers, of which 14 are MRs and...

https://mfame.guru/this-shipping-giant-switches-to-methanol-fuel/

Ocean Shipping Rates Nosedives 60% This Year

Freight rates on the main ocean trade routes are sinking during what is typically the industry’s peak season after cargo owners shipped holiday goods early and inflation dented consumer demand, reports WSJ.

The cost to ship a 40-foot container from China to the U.S. West Coast now stands around $5,400 a box, down 60% from January, according to the Freightos Baltic Index. A container shipped from Asia to Europe costs $9,000, 42% less than at the start of the year. The rate for both routes, while...

https://mfame.guru/ocean-shipping-rates-nosedives-60-this-year/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.