Business

SEA-LNG introduces new senior team appointments following retirement of COO

Delighted to announce Steve Esau’s promotion to Chief Operating Officer, plus the appointment of Adi Aggarwal as General Manager.

Published

2 years ago

January 19, 2022

Admin

SEA LNG introduces new senior team appointments

Global multi-sector industry coalition SEA-LNG on Tuesday (18 January) introduced new senior team appointments following the retirement of Stephen Cadden:

As SEA-LNG enters a new year, we bid adieu to Chief Operating Officer, Stephen Cadden who has elected to retire. Stephen Cadden was one of the founding consultants at SEA-LNG and has helped to guide the operation since its inception. Stephen has been instrumental in SEA-LNG becoming an internationally recognised resource on LNG’s pathway to decarbonising shipping. The SEA-LNG Board would like to express its gratitude for the passion, dedication and guidance Stephen has brought to SEA-LNG’s mission over the past few years. We wish him all the best with his future endeavours, and hope that, as a team, we can continue to maintain and drive forwards the great work Stephen has done to date.

We are proud to announce the promotion of SEA-LNG’s Director in Europe, Steve Esau, to Chief Operating Officer. Steve has over 25 years’ experience in the industry working with financial institutions, energy companies, governments and NGOs in a variety of strategic, operational and policy roles. Steve has worked closely with Stephen on the development of SEA-LNG since its inception.

Steve Esau, Chief Operating Officer, said of his appointment: “LNG as a marine fuel offers a great opportunity for our industry to make a significant contribution to the decarbonisation of the global economy. Working with Stephen over the past few years, it has been a consistent pleasure to drive this mission forwards at SEA-LNG, and I hope we as a team can continue to maintain and drive forwards the great work Stephen has done to date.”

SEA-LNG also welcomes Adi Aggarwal as General Manager. Adi Aggarwal is an accomplished business development executive, technical leader, registered professional engineer, and a project management professional with over two decades of diverse global experience in the marine, offshore and subsea industries. Based in Houston, Texas, Adi brings extensive industry knowledge and education to SEA-LNG and is recognised as an industry expert by many leading maritime and financial journals. His expertise covers the convergence of commercial, regulatory, and technical requirements and their long-term impact on the gas market.

Adi Aggarwal, General Manager, commented: “I’m delighted to be joining the SEA-LNG team. LNG is a fuel in transition, rapidly evolving to meet the needs of an industry that is committed to effectively reduce emissions while maintaining profitable operations. I look forward to working with SEA-LNG and its membership to advance the understanding of the LNG pathway in our industry.”

“With this experienced team in place, SEA-LNG will continue its mission of facilitating the use of LNG as an important maritime fuel”, noted Chairman Peter Keller. “The Board and membership of SEA-LNG continue to be excited about the well documented and proven decarbonisation and air quality benefits that LNG, and the pathway forward with bio and ultimately renewable synthetic LNG, provides to the global maritime community.”

Photo credit: SEA-LNG
Published: 19 January, 2022

Methanol

China: Cosco Shipping and bp to explore collaboration in methanol bunker fuel

Duo signed a MoU in Shanghai to expand their scope of strategic cooperation into new areas including lubricant supply, methanol bunker fuel supply for bunkering and offshore wind supply chain.

Published

5 hours ago

December 11, 2023

Admin

China: Cosco Shipping and bp to explore collaboration into methanol bunker fuel

Cosco Shipping on Thursday (7 December) said it has signed a Memorandum of Understanding (MoU) with bp to expand their scope of strategic cooperation into new areas on 5 December in Shanghai.

“This includes Castrol Marine lubricants and hydrocarbons transportation, offshore equipment as well as exploring collaboration opportunities in areas such as methanol supply for bunkering and offshore wind supply chain,” Cosco said.

“Together, both parties will further capitalize on the business advantages of both parties, enhance synergies, and achieve complementary advantages and common development.”

William Lin, bp Group Executive Vice President, and Lin Ji, Executive Vice President of COSCO SHIPPING, witnessed the signing. Simon Yang, bp Group Senior Vice President and bp China President, and Chen Wei, Deputy Head of the Operations Division of COSCO SHIPPING, signed the document on behalf of the two parties.

Cosco said bp has been operating in China since the early 1970s and is one of the leading foreign-invested companies in China’s energy industry.

“bp and Cosco Shipping have a longstanding history of cooperation, including the transportation of energy products, offshore equipment manufacturing services, and the supply of marine fuels and lubricants,” it added.

Photo credit: Cosco Shipping
Published: 11 December, 2023

Methanol

Maersk to deploy first large methanol-powered vessel on Asia-Europe trade lane in 2024

Ship will enter service on the AE7 string connecting Asia and Europe, which includes port calls in Shanghai and Tanjung Pelepas in Malaysia, with Ningbo in China, being its first destination.

Published

5 hours ago

December 11, 2023

Admin

Maersk to deploy first large methanol-powered vessel on Asia-Europe trade lane in 2024

A.P. Moller - Maersk (Maersk) on Thursday (7 December) said it was about to launch the first of its 18 large methanol-enabled vessels currently on order.

On 9 February 2024, the ship will enter service on the AE7 string connecting Asia and Europe, which includes port calls in Shanghai, Tanjung Pelepas, Colombo and Hamburg, with Ningbo, China, being its first destination.

“The container vessel built by Hyundai Heavy Industries (HHI) in South Korea has a nominal capacity of 16,000 containers (TEU) and is equipped with a dual-fuel engine enabling operations on methanol as well as biodiesel and conventional bunker fuel,” the firm said.

Maersk added it has secured sufficient green methanol to cover the vessel’s maiden voyage and continues to work diligently on 2024-25 sourcing solutions for its methanol-enabled vessel fleet.

“Deploying the first of our large methanol-enabled vessels on one of the world’s largest trade lanes, Asia - Europe, is a landmark in our journey towards our Net-Zero target. With the vessel’s capacity of 16,000 containers, this will make a significant impact in our customers’ efforts to decarbonise their supply chains, and we are looking forward to introducing more methanol-enabled vessels on this and other trades during 2024,” Karsten Kildahl Chief Commercial Officer at Maersk, said.

Ahead of its deployment, the vessel will be named at the shipyard in end January 2024. The following two sister vessels will be deployed in the first half of 2024 with naming events taking place in Yokohama, Japan, and Los Angeles, USA. Maersk said it was expected to take delivery of four additional sister vessels in the second half of 2024.

At the time of deployment of the first large vessel, it will be the only second container vessel in the world that can sail on green methanol, the first being the feeder vessel Laura Maersk which entered service in September this year.

Overview of Maersk vessels on order

Maersk has 24 container vessels on order
All vessels currently on order will be equipped with dual-fuel engines and will be able to operate on green methanol
12 of the vessels on order have a capacity of 16,000 TEU (Twenty-foot Equivalent Unit containers)
6 of the vessels on order have a capacity of 17,000 TEU
6 of the vessels on order have a capacity of 9,000 TEU
Since 2021, Maersk has had a policy of only ordering new vessels able to operate on green fuels

About Maersk’s AE7 service string

The AE7 string connects Asia and Europe through the Suez Canal
The AE7 string has the following port calls: Ningbo, Shanghai, Nansha, Yantian (all China), Tanjung Pelepas (Malaysia), Colombo (Sri Lanka), Port Tangiers (Morocco), Felixstowe (UK), Hamburg (Germany), Antwerp (Belgium), London Gateway (UK), Le Havre (France), Port Tangiers, Jeddah (Saudi Arabia), Abu Dhabi (UAE) and Jebel Ali (UAE)

Photo credit: A.P. Moller - Maersk
Published: 11 December, 2023

VLSFO

ENGINE: Petrobras’ new bunker price mechanism adds to Brazil market shake-up

With a new pricing mechanism now in place since 1 November, Petrobras bunker prices can change anytime throughout the day and final prices will depend on enquiries, a source says.

Published

5 hours ago

December 11, 2023

Admin

Since Brazilian petroleum firm and bunker supplier Petrobras shifted from posted bunker prices to indicative prices, Santos’ VLSFO discounts to Brazilian and foreign ports have narrowed.

Petrobras started issuing indicative bunker prices for Brazilian ports on 1 November, shifting from its usual pricing mechanism of posted prices. These posted prices were mostly fixed in nature, and did not tend to change despite movements in underlying crude values.

With a new pricing mechanism now in place, Petrobras bunker prices can change anytime throughout the day and final prices will depend on enquiries, a source says. The new pricing has been reflected in Brazilian bunker price dynamics.

Santos’ VLSFO price discount to Zona Comun’s VLSFO has come down from peak levels of $50/mt in September to around $35/mt in October and November and has further slid to just $4/mt.

VLSFO prices have also changed rapidly between Brazilian ports in recent weeks. Rio Grande’s VLSFO premium over Santos momentarily shrunk from nearly $40/mt in November to just $8/mt earlier this week, but then widened back to $42/mt.

Some argue that Petrobras decided to change the pricing mechanism because of the rise in competition in the Brazilian market. In recent months, several suppliers such as Ipiranga and Bunker One have expanded their Brazilian bunker operations, offering new grades and entering new ports in Brazil. Raizen also started VLSFO supply in the port of Itaqui and São Luiz in July this year.

Another source says that competition is mostly between Brazilian ports - as opposed to with foreign ports. Ships calling in Brazil will be able to pick and choose bunker-only ports with the best offers. Meanwhile, those vessels calling in Argentina will ideally pick bunkers from Zona Comun rather than Brazilian ports, the source adds.

By Nithin Chandran

Source: ENGINE
Photo credit: Gabriel Martins on Unsplash
Published: 11 December, 2023