Shenzhen-listed Hubei Energy Group on 9 April entered an initial agreement with the government of Zhijiang city at Hubei, China to build liquefied natural gas (LNG) bunkering and cold ironing facilities at its ports.
The government of Zhijiang will initially invest RMB 100 million ($15.9 million) to start the project, which is worth a total of (RMB 2.5 billion) $400 million.
“The two parties intend to carry out the cooperation of the Zhijiang LNG Distribution Center project and the cooperation of the coastal power projects in each port area of Zhijiang City,” it said in a statement on the Shenzhen stock exchange.
Hubei Energy will form a joint venture with Zhijiang Jinrunyuan Construction Investment Holding Group to build two LNG docks and storage tanks, together with LNG bunkering facilities and other systems for the project.
Hubei Energy will also construct cold ironing facilities at various port areas of Zhijiang.
“With the development, efforts will be made to promote the implementation of shore power projects, and to promote the energy saving and emission reduction of docked ships, and improve Zhijiang City Air Quality,” it says.
Photo credit: General Office of Hubei Provincial People’s Government
Published: 11 April, 2018
‘Tackling climate change is too big a challenge for one organisation to fix alone. Radical carbon reduction throughout supply chains is an absolute necessity,’ states UECC spokesman.
Vladimir Putin launches, via videoconference, Cryogas-Vysotsk LNG plant in Vysotsk, Leningrad Region.
It was also the first LNG bunker delivery for the receiving vessel, Vitol Marine Vicky and the first delivery completed by a newly-ordered LNG truck, said the company.
Mardi Gras is Carnival Cruise Line’s largest cruise ship and the first to be powered by liquefied natural gas; the vessel is built at Meyer Turku, Finland.
The separation of the LNG bunkering market, coupled with relaxations on import volumes and price regulation,is aimed at revitalising the domestic LNG market, it said.
The institutional investors were advised by J.P. Morgan Asset Management and Frachtcontor Capital Partners was the broker for the deal.
Glander International Bunkering (Norway) AS seeking payment of USD 115,963.52 (not including contractual compensation and interests) from the vessel’s demise charterer, according to court documents.
“In TotalEnergies, we already have projects along the e-Fuel value chain, from green electricity and green / blue hydrogen to e-Fuel production that will be integrated along the marine fuels value chain in time to come,” shares Louise Tricoire.
Buyers can nominate deliveries on platform and plan operations together with suppliers following ‘one single truth’ concept with all players aware of what has been agreed when and by whom, says DNV spokesman.
Rotterdam’s intention to mandate the usage of MFMs goes down well with licensed bunker supplier VT Group; MFM providers supportive of move but stressed continuous monitoring is needed for optimum performance.
Cost of alternative bunker fuels, bunker operations and technology advancement are some considerations to be examined by the maritime industry, says Neo, director of SDE International Pte Ltd.
Kim Hyung Joon and Han Donghoon were planning to join the Singapore entities of Hartree Group - either Hartree Partners Singapore Pte Ltd or Hartree Marine Fuels - in October, discovered management.
