Decreased Tonnage Supply Could Help the Tanker Market’s Recovery Alimited supply of fresh tonnage could speed up the recovery of the tanker segment, which unlike other parts of shipping, has failed to stage any sort of recovery over the past 18 months. In a recent report, shipbroker Allied said that “the tanker sector
GASUM: LNG is currently the only option to reduce shipping emissions significantly Liquefied natural gas (LNG) is the cleanest marine fuel available. It is the only way for shipping companies to start reducing their emissions today. Gas-powered vessels are a wise investment because it enables switching to an even cleaner fuel like biogas
China redraws seaborne LNG map, looks to America for supplies China has redrawn the map of global seaborne LNG trades this year, dismissing trade tiffs with America, to dramatically boost the overall tonne-mile scenario for LNG carriers, which have hit record spot earnings in excess of $300,000 per day over the past month.
GHG reporting methodology launched for LNG cargoes Pavilion Energy Trading & Supply Pte. Ltd (Pavilion Energy), QatarEnergy, and Chevron U.S.A. Inc (Singapore branch) (Chevron) today announced they have jointly published a quantification and reporting methodology (the SGE Methodology) to produce a statement of greenhouse gas emissions (SGE) for delivered LNG cargoes. This is
Oil Demand Back at 2019 Levels and Set to Rise The head of Vitol Group, the world’s biggest independent oil trader, said global demand has recovered to 2019 pre-pandemic levels and is poised to go even higher early next year. Chief Executive Officer Russell Hardy said demand for oil will exceed 2019 levels
Shell Ventures, Trafigura, AET, and Saudi Aramco Energy Ventures have all invested in a Swiss company that aims to convert hazardous ship pollutants into products that can be upcycled. Daphne Technologies raised CHF10m in a funding round led by Shell Ventures, along with Trafigura, and AET, as well as previous investors including Saudi
Oil Heading for 7th Weekly Advance Oil headed for a seventh weekly gain, the longest run since December, as a global energy crunch roiled markets from Europe to Asia. Futures in New York extended gains in Asian trading toward $80 a barrel. Prices advanced 1.1% on Thursday after the U.S. Energy Department said
SHIPPINGInsight Conference: The Unsung Heroes of Shipping’s Decarbonization The opening sessions of the SHIPPINGInsight conference (now in its 10th year), with a powerful keynote speech from ABS’s Chris Wiernicki, were full of quotable quotes and broad sweeping overviews, aspirations, challenges/ strategic opportunities and prescriptions. Rather than recount them in the opening paragraph, I
Putin’s pledge for more supply can’t stop Europe’s gas price surge (Bloomberg) --European gas futures continued their march upwards on Thursday, even after Russia pledged to deliver as much supply as the continent needs. Europe’s largest gas supplier is ramping up deliveries in line with requests from customers and is “prepared to discuss
Oil Down on Limited Trading Oil extended losses after Saudi Arabia cut crude prices for Asian buyers, raising the prospect of fierce competition among sellers as the resurgence of Covid-19 continues to cloud the demand outlook. Futures in New York fell 0.6% to below $69 a barrel. The kingdom cut the price of
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