A lack of refuelling and bunkering infrastructure has been identified by over 80 senior energy industry leaders from across the Asia Pacific region as the biggest hurdle for the uptake of liquefied natural gas (LNG) as marine fuel in Asia, according to a Deloitte survey.
Survey respondents cited the retrofitting and/or redesign of the existing shipping fleet to accommodate the LNG bunker fuel option as the second biggest barrier to adoption, followed by the price competitiveness of LNG versus liquid fuels.
However, despite the challenges, over two-thirds (68%) said if the marine fuel market switches to LNG, it will have a positive effect on their overall business.
“LNG is particularly well placed to benefit from the IMO’s emissions legislation. Our survey results are clear recognition the stricter standards will open the door for cleaner marine fuels like LNG and low sulphur marine gas oil to displace heavy fuels,” says Bernadette Cullinane, Deloitte Global LNG leader and Australia oil and gas lead after the second annual Deloitte Energy Trading Summit in Singapore.
“Almost every maritime authority in the world that offers bunkering is now taking a serious look at LNG as an alternative to fuel oil. Whilst infrastructure is an issue, it is being built, and new vessels have been designed, built and are on order.”
Cullinane added that with the globalisation of the LNG market, companies are actively looking at new applications and new markets for gas.
“One of the biggest opportunities for LNG over the next decade will be in transportation, particularly as a marine fuel,” she said.
“This option is rapidly gaining momentum, presenting an attractive market opportunity for LNG producers.
“With competition from alternative fuels, especially renewables in the power generation space, LNG needs to develop new customer markets to absorb supply and justify investment in new production facilities.
“Transportation is a terrific opportunity for LNG suppliers to tap into a growing market. By expanding the customer base, it’s a play that will help underwrite and de-risk future supply developments.”
Published: 21 June, 2018
The five 209,000 dwt vessels, which will be chartered to carry iron ore between Western Australia and China, are scheduled to be delivered throughout 2022, it said.
Avenir Accolade is a dual fuel vessel that runs on both diesel and LNG; it also functions as an LNG carrier and was built at Keppel Nantong Shipyard in China.
CMA CGM Jacques Saade is the first of nine 23,000-TEU boxships ordered by Rodolphe Saadé in 2017.
Approximately 11% of all new build contracts in 2017 were for LNG-powered ships, says Titan LNG.
Generated savings for bunker costs (LNG versus MGO) of LNG-retrofitted Wes Amelie was approximately 2.750 EUR per day and almost one million EUR in 2019.
The LNG bunkering inland waterway tank barge receives its class approval from Bureau Veritas, it says.
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.
Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.
Dwivedi Vivek Kumar ended his tenure as Global Head – Bitumen & Shipping & Regional Head – APAC at GP Global APAC on 10 November 2020 due to internal structuring of the GP Global Group.
