Iran's Revolutionary Guards said on Friday they had captured a British-flagged oil tanker in the Gulf after Britain seized an Iranian vessel earlier this month, further raising tensions along a vital international oil shipping route.Britain said it was urgently seeking information about the Stena Impero after the tanker, which had been heading to a port in Saudi Arabia
Part I: Enhancing Engines & Fuels"Wood Mackenzie forecasts a 25 percent increase in price for lower sulfur content fuel based on a SOx scrubber adoption rate of about two percent, but some scenarios could cause LSFO prices to spike by as much as 60 percent."Around 80 percent of global trade is carried by sea.
The first shipment of liquefied natural gas (LNG) has sailed from Shell’s Prelude floating LNG (FLNG) facility offshore Australia, Shell announced Tuesday alongside its joint venture partners INPEX, KOGAS and OPIC.This shipment from the world’s largest floating producer of LNG, located 475 kilometers northeast of Broome in Western Australia
Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa, or 41%, to 54 mtpa in 2018
While the task to name only five 'Top' yachts of the year, Maritime Reporter & Engineering News' Lisa Overing gives it her best shot in the January 2019 edition.M/Y TIS: “Size Matters”The age-old question of whether or not size matters is typically directed at men. However, since a ship is called she, Maritime Reporter’s top spot for greatest yacht of 2018 is the class of 2018’s largest launch
China's imports of liquefied natural gas (LNG) in December soared 25 percent from the same period a year earlier to a monthly record of 6.29 million tonnes, customs data showed on Wednesday.The previous record of 5.99 million tonnes was set in November.For the whole of 2018, imports grew 41 percent from 2017 to a record 53.
As commercial shipping and energy activities picks up in the Arctic region, the prospect of accidental oil spills in this pristine environment remain a concern. In response, the U.S. Department of Homeland Security (DHS) is taking the lead – through the U.S. Coast Guard – to develop a subsea robotic system to map and report on spills.
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies' operating costs and capex needs, says Fitch Ratings in a new report."This may negatively affect their credit quality unless they manage to pass these costs to customers.
A 479-foot asphalt tanker was towed into New York Harbor after an engine room fire left the vessel disabled off the U.S. East Coast.Early on October 5, U.S. Coast Guard watchstanders in Woods Hole, Mass. received a report that the Hong Kong-flagged tanker Feng Huang AO loaded with asphalt and bound for New York Harbor suffered a fire in its engine room while transiting 57 miles southeast of
The launch of a massive liquefied natural gas (LNG) export project in Canada has finally fired the starting gun on a wave of plan approvals around the world, needed to avoid a supply crunch after 2020.Royal Dutch Shell said it would export LNG from Western Canada by 2025 after approving a $14 billion project, hot on the heels of Qatar's commitment last week to expand its facilities.
The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply.The rate for vessels shipping LNG from the Atlantic Basin to Asia has jumped to $90,000 to $95,000 a day this week from $75,000 a day at the end of August, brokers and traders said.
French oil and energy group Total said on Monday it had made a major gas discovery on the Glendronach prospect, located off the coast of the Shetland islands in the North Sea.Total said preliminary tests on the new gas discovery confirmed good reservoir quality, permeability and well production deliverability, with recoverable resources estimated at about one trillion cubic feet (1 tcf).