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LNG Bunkering

Conrad Industries suffers losses in LNG bunker barge project

Company able to position itself as leader in LNG marine-related construction despite losses, says President and CEO.

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The financial results of Louisiana-based shipyard Conrad Industries was negatively affected by losses in a project to construct a liquefied natural gas (LNG) bunker barge, says its President and CEO.

“Our 2017 and 2016 operating results were affected by losses of $11.9 million and $13.2 million, respectively, on the LNG bunker barge,” says Johnny Conrad.

“Despite the losses we have incurred on the construction of the LNG barge, we believe that we have developed the resources to establish ourselves as a leader in LNG marine-related construction in North America.”

The yard posted net loss of $3.4 million for the quarter ended December 31, 2017 (Q4 2017), compared to net loss of $836,000 in Q4 2016.

New business added during the first quarter of 2018 includes the signing of contracts totalling $35.2 million in the form of four 30,000 bbl. tank barges, two LPG tank barges, four spud barges, three 24,000 bbl adiponitrile barges and two anchor barges.

To date, the yard’s estimated current backlog is approximately $107.0 million, compared to $111.3 million at December 31, 2017, and $216.5 million at December 31, 2016.

“During 2017 our new construction segment continued to be adversely affected by a soft market for energy transportation, increased pricing pressure, and low demand for large barge project orders, while our repair and conversion segment continued to be impacted by low oil prices and depressed Gulf of Mexico activity,” said Conrad.

“These factors had a negative impact on our operating results in 2017, and they may continue to impact our operations during 2018.”

Moving forward, Conrad expects 2018 to be another challenging year for the company.

“We have met these types of challenges in the past, and we remain confident that with our talented and dedicated employees, strong balance sheet and diversified customer base we can effectively respond to changing market conditions,” he says.

Photo credit: Conrad Industries
Published: 9 April, 2018

 

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Bunker Fuel

Singapore: Bunker fuel sales increase by 6.4% on year in March 2024

4.45 million mt of various marine fuel grades were delivered at the world’s largest bunkering port in February, up from 4.18 million mt recorded during March 2023, according to MPA data.

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Singapore: Bunker fuel sales increase by 6.4% on year in March 2024

Sales of bunker fuel at Singapore port increased by 6.4% on year during March 2024, according to Maritime and Port Authority of Singapore (MPA) data.

In total, 4.45 million metric tonnes (mt) (exact 4,448,243 mt) of various marine fuel grades were delivered at the world’s largest bunkering port in February, up from 4.18 million mt (4,178,950 mt) recorded during March 2023.

Deliveries of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in March (against on year) recorded respectively 1.61 million mt (+40.4% from 1.27 million mt), 2.42 million mt (+9.91% from 2.55 million mt), zero (from zero), 5,100 mt (+132% from 14,700 mt) and zero (from zero).

Singapore: Bunker fuel sales increase by 6.4% on year in March 2024

Bio-blended variants of marine fuel oil, low sulphur fuel oil, ultra low sulphur fuel oil, marine gas oil and marine diesel oil in February (against on year) recorded respectively zero (from zero), 66,000 mt (-46.9% from 28,400 mt), zero (from zero), zero (from zero) and zero (from zero).

LNG and methanol sales were posted respectively at 38,600 mt (from 3,700) and zero (from zero).

Related: Singapore: Bunker fuel sales up by 18.8% on year in February 2024
Related: Singapore: Bunker fuel sales up by 12.1% on year in January 2024

A complete series of articles on Singapore bunker volumes by Manifold Times in 2023 can be found below:

Related: Singapore achieves milestone with record year for bunker sales in 2023
Related: Singapore: Bunker fuel sales fell 2.5% on year in November 2023
Related: Singapore: Bunker fuel sales increase by 3.5% on year in October 2023
Related: Singapore: Bunker fuel sales increase by 7.7% on year in September 2023
Related: Singapore: Bunker fuel sales continue upward trend, rose by 3.4% on year in August 2023
Related: Singapore: Bunker fuel sales continue upward trend, rose by 9.7% on year in July 2023
Related: Singapore: Bunker fuel sales continue to increase by 4.7% on year in June 2023
Related: Singapore: Bunker fuel sales increase by 11.8% on year in May 2023
Related: Singapore: Bunker fuel sales continue upward trend, rose by 13.4% on year in April
Related: Singapore: Bunker fuel sales continue upward trend, rose by 10.8% on year in March
Related: Singapore: Bunker fuel sales continue upward trend, up 8.3% on year in February
Related: Singapore’s bunker sales kickstarts well with 8.6% increase on year in January 

Photo credit: Maritime and Port Authority of Singapore
Published: 15 March 2024

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LNG Bunkering

Port of Klaipeda achieves milestone with first STS LNG bunkering operation

Tanker “Avenir Aspiration” delivered 326 cubic meters of LNG bunker fuel to a 170-metre length CMA CGM container vessel Containerships Aurora on 9 April

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Port of Klaipeda achieves milestone with first STS LNG bunkering operation

The Port of Klaipeda on Thursday (11 April) said it saw its first ship-to-ship LNG bunkering operation on 9 April, marking a significant milestone for maritime services in the major Lithuanian transport hub.

Tanker Avenir Aspiration delivered 326 cubic meters of liquified natural gas (LNG) bunker fuel to a 170-metre length CMA CGM container vessel Containerships Aurora

Vladas Motiejunas, Harbourmaster, said: “This successful LNG bunkering operation is a milestone for Klaipeda Port and a significant leap forward in diversifying and improving the quality of services port provides to maritime operators.”

“The operation leverages our strategic advantages, including the existing infrastructure of the LNG floating storage and regasification terminal Independence, to offer cleaner, more sustainable bunkering solutions. Klaipeda Port is now firmly on the map as a convenient and reliable location for LNG bunkering in the region.”

CMA CGM operates three LNG-powered vessels in the Baltic Sea, with regular calls at the Port of Klaipeda. There are plans to expand the LNG-powered vessel fleet to six in the near future.

“The possibility to bunker LNG container vessels in the Port of Klaipeda is a strong sign that the port infrastructure is adapting in line with carbon zero targets in shipping. CMA CGM plans to have Klaipeda Port as a regular spot for LNG vessel bunkering”, said Saulius Kazakevicius, General Manager at CMA CGM Lithuania.

Klaipeda Port has the ambition to offer a wider variety of alternative green fuels in the future, including on-site production and bunkering of green hydrogen starting in early 2026.

Klaipeda Port is the major transport hub in Lithuania, serving 6,000 ships per year in the 33 specialised terminals. The port handles containers, ro-ro, LNG, dry bulk, liquid bulk, general, and project cargoes, and half a million passengers per year.

 

Photo credit: Port of Klaipeda
Published: 12 April 2024

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LNG Bunkering

Hapag-Lloyd containership receives largest ship-to-ship LBM bunker delivery at Rotterdam port

Titan Clean Fuels and STX Group successfully concludes ship-to-ship bunkering of 2,200 metric tons of LBM to the “Brussels Express”.

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Liquefied natural gas (LNG) and biomethane (LBM) supplier Titan Clean Fuels and environmental commodities trading and climate solutions provider STX Group on Tuesday (9 April) successfully concluded a ship-to-ship bunkering of 2,200 metric tons of LBM to the Brussels Expresss in the port of Rotterdam.

This transaction marks Hapag-Lloyd’s entry into using LBM as sustainable bunker fuel, representing the largest ship-to-ship bunkering operation known to date.

STX Group and Titan Clean Fuels have collaborated to liquify, store and deliver mass-balanced biomethane in Zeebrugge in Belgium under ISSC certification fully recognized under the European Union´s Renewable Energy Directive known as RED II.

“This pioneering deal demonstrates that bunkering large quantities of liquefied Biomethane is possible and scalable,” said Jan Christensen, Senior Director Fuel Purchasing at Hapag-Lloyd.

“However, there is still more progress required regarding the necessary infrastructure and the regulatory framework.

“For us, bunkering liquefied Biomethane is another measure in our step-by-step approach to further decarbonise our operations to reach our goal of becoming net-zero by 2045.”

LBM, also known as bio-LNG, is an established sustainable bunker fuel that can even be net-zero emissions depending on the feedstock and is commercially available in Europe, Asia and North America.

Biomethane is produced from sustainable biomass feedstocks such as industrial and agricultural waste streams that do not compete with food production. These are nationally or regionally defined, for example by the EU (RED II) in Europe and the EPA (Renewable Fuel Standards) in the USA.

“Titan’s Alice Cosulich bunker vessel has successfully delivered LBM to Hapag-Lloyd’s Brussels Express container ship. We’d like to thank all the partners involved for another smooth operation. We have been encouraged by the demand for LBM so far, and this major bunkering represents a significant step in shipping’s clean fuels transition. Titan recognizes the LNG pathway via LBM and renewable e-methane as a practical, sustainable and cost-effective route to net-zero shipping emissions available today. We work every day towards full regulatory compliance for shipowners and operators of deep sea ships,” commented Caspar Gooren, Director of Renewable Fuels at Titan Clean Fuels.

“We congratulate Hapag-Lloyd on this landmark deal in the shipping sector. This transaction is a proof of how liquefied biomethane can be a powerful tool on the path to a lower carbon transport sector. At STX Group, we are proud to consistently be at the forefront of environmental markets and this is yet another example of how we are building long-term value through high-impact use cases,” said Sead Keric, Managing Partner of Renewable Gas at STX Group.

 

Published: 11 April 2024

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