Antonio Peciccia of global energy and commodity price reporting agency Argus Media on Thursday (3 December) published an article summarising Shell’s plans to invest in its liquified natural gas (LNG) bunkering vessel fleet to meet projected global demand:
Shell plans to “more than double” its LNG bunkering vessel fleet by 2025, the firm’s executive vice-president Steve Hill said at the virtual CWC World LNG summit.
The firm has six LNG bunkering vessels already in operation or about to start service, Hill said.
LNG is set to sharply increase its share of the bunkering market in the coming years, also thanks to its global availability, he added. LNG is already available “in all major ports”, and a widespread use as a marine fuel only requires “those last mile investments” to make it available for bunkering operations, he said.
While relatively small investments may be needed to complete the supply chain for LNG as a marine fuel, the economic downturn stemming from the Covid-19 pandemic may hamper demand growth by slowing investment decisions in building new LNG-fuelled ships or conversions of existing vessels.
Singapore-based Pavilion Energy’s chief executive Frederic Barnaud admits he “was a little bit worried at the beginning of the pandemic” about the potential impact on investment decisions on new LNG-fuelled ships. But final investment decisions “have been made and are being made”, he added.
The number of LNG-fuelled vessels has reached 211 at present, up from 194 at the end of 2019.
Photo credit and source: Argus Media
Published: 7 December, 2020
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‘The launch of our company website signifies the readiness of Singfar to engage with relevant stakeholders to achieve our mission of enabling sustainable trade,’ Managing Director tells Manifold Times.
Associate Director at Helmsman highlights the need to stay up-to-date with latest protocols / measures introduced by MPA, with continuous education of Master and crew of the visiting vessel.
BunkerPlanner Lite is an attempt to educate professionals engaged in bunker decisions about the use of advanced technology in the decision process, explains BunkerMetric CEO Christian Plum.
Senior Associate at Clyde & Co offers guidance to protect shipowners and bunker tanker operators in the event opposing counterparty breaches Covid-19 protocols, resulting in Covid-19 transmission.
Having a surveyor’s watchful eye to detect illegal activities also sends a strong signal to barge and vessel crew not to undertake any intended non-compliance, states VPS Senior Sales Manager.