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Alternative Fuels

Gasum observes growth in use of gas as bunker fuel in Q2 2020 financial report

Demand for cleaner energy solutions is currently growing particularly in maritime transport, where total gas sales volumes are forecast to show further growth, noted CEO.
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Swedish bunker supplier Gasum on Wednesday (29 July) published its Q2 2020 financial report which shows group operating profit at EUR17.5 million (USD20.6 million), down 21% year on year.

“The first half of the year saw us purposefully continue taking our strategy forward despite the uncertainties brought about by the COVID-19 pandemic,” said Johanna Lamminen, Chief Executive Officer, Gasum.

“We have continued implementing our projects as planned and so far the pandemic has had only minor impacts on our business. 

“We have safeguarded the continuity of our business by ensuring the health and safety of our employees and have done everything we can to secure the energy supply, gas sourcing and distribution as well as safe and secure logistics in our recycling and waste services. 

“Our revenue during the reporting period was EUR302 million (USD356 million), which was clearly lower compared to a year earlier. Revenue was primarily affected by the price development of gas in Europe.”

Lamminen added that Gasum’s acquisition of Linde AG’s LNG and Biogas business and Nauticor’s Marine Bunkering business in Q2 strengthened its capacity to offer gas solutions, particularly in maritime and heavy-duty transport, in the Nordic countries.

Demand for cleaner energy solutions is currently growing particularly in maritime transport, where total gas sales volumes are forecast to show further growth, noted the CEO. 

In Q2, Gasum completed several LNG bunkering operations in maritime transport in the Nordic countries and also in Germany including Heerema’s Sleipnir, the world’s largest semi-submersible crane vessel, and for the product tanker Ramelia. 

It also concluded a delivery partnership agreement with the Samskip shipping company and opened the first shipping fuel station in the Ports of Stockholm.

Lamminen also highlighted that biogas is increasingly attracting interest among forerunners in maritime transport and Gasum delivered liquefied biogas (LBG) for the first time to ESL Shipping’s vessel Viikki. 

During Q2, Gasum promoted the regional circular economy in our biogas business in Northern Finland by concluding a contract with municipal waste management company Napapiirin Residuum. 

“In future, biowaste from residents in Rovaniemi, Ranua and Pello will be turned into renewable biogas and recycled nutrients at our biogas plant in Oulu,” said Lamminen.

“We also made a decision to invest in building a new biogas plant in Götene, Sweden.”

Some key highlights of Gasum’s Q2 2020 financial report are: 

  • Group operating profit totaled EUR17.5 million (USD20.6 million), down 21% year on year (June 30, 2019: EUR22.1 million) 
  • Operating profit margin in H1 in the reporting period was 5.8%, up 1.6 percentage points compared with the reference year’s continuing operations (June 30, 2019: 4.2%)
  • Balance sheet total came to EUR1,259.3 million (June 30, 2019: EUR1,109.7 million) 
  • The Group’s solvency remained strong in the reporting period, with the equity ratio being 39.9% (June 30, 2019: 43.5%)

* Including comparable figures for continuing operations.

A full copy of Gasum’s Q2 2020 financial report is available here. 


Photo credit: Gasum
Published: 30 July, 2020

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LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

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PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions. 

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post. 

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024. 

 

Photo credit: Pacific International Lines
Published: 21 July, 2026

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LNG Bunkering

CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s alternative fuel bunkering infrastructure.
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July 21, 2026

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CIMC SOE secures order for 12,000-cbm LNG bunkering vessel from Sinopec Clean Energy

China’s Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (CIMC SOE) recently signed a contract with Sinopec (Beijing) Clean Energy Co., Ltd. to build a 12,000-cubic metre (m3) LNG bunkering vessel, according to Chinese maritime media.

The vessel is scheduled for delivery in 2028 and will support Sinopec’s efforts to expand its presence in the marine clean energy sector.

Once operational, the vessel is expected to strengthen Sinopec’s domestic coastal LNG bunkering network and help address gaps in China’s LNG bunkering infrastructure.

With this signing , CIMC Pacific Offshore Engineering’s LNG bunkering vessel orderbook is further strengthened, maintaining its leading position in the global market for small and medium-sized LNG bunkering vessels.

The contract also marked another milestone for CIMC SOE, which has seen a sharp increase in orders and business performance this year amid a surge in domestic LNG vessel demand.

 

Photo credit: Nantong CIMC Sinopacific Offshore & Engineering
Published: 21 July, 2026

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Nuclear

ABS awards AiP to Korean institute for SMR-powered container ship concept design

KRISO says AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.
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ABS awards AiP to Korean institute for SMR-powered container ship concept design

Korea Research Institute of Ships & Ocean Engineering (KRISO) on Thursday (16 July) received Approval in Principle (AiP) from the American Bureau of Shipping (ABS) for its concept design of a 15,000 TEU Small Modular Reactor (SMR)-powered container ship utilising Molten Salt Reactor (MSR) technology.

KRISO said the AiP recognises the technical feasibility and safety of its concept design, marking an important milestone toward the development of next-generation nuclear-powered commercial ships.

“This achievement demonstrates international recognition of KRISO’s technological capabilities in the rapidly evolving field of nuclear-powered shipping, supporting the transition toward low-carbon maritime transport,” it said. 

Building on this milestone, KRISO will continue advancing basic and detailed ship design, paving the way for future demonstration and commercialisation of SMR-powered vessels. 

Through continued R&D and international collaboration, KRISO remains committed to strengthening next-generation maritime technologies and contributing to the safe deployment of nuclear propulsion in the maritime industry.

 

Photo credit: Korea Research Institute of Ships & Ocean Engineering
Published: 21 July, 2026

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