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Shell signs deal to acquire Singapore-based Pavilion Energy

‘Acquisition of Pavilion Energy will strengthen Shell’s leadership position in LNG, bringing material volumes and additional flexibility into our global portfolio,’ says Zoë Yujnovich of Shell.

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Pavilion Energy

Shell Eastern Trading, a subsidiary of Shell plc, on Tuesday (18 June) said it reached an agreement with Carne Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek, to acquire 100% of the shares in Singapore-based LNG bunker provider Pavilion Energy. 

Pavilion Energy includes a global liquefied natural gas (LNG) trading business with a contracted supply volume comprising about 6.5 million tonnes per annum (mtpa).

Headquartered in Singapore, Pavilion Energy’s global energy business encompasses LNG trading, shipping, natural gas supply and marketing activities in Asia and Europe.

“The acquisition of Pavilion Energy will strengthen Shell’s leadership position in LNG, bringing material volumes and additional flexibility into our global portfolio,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director. 

“We will acquire Pavilion’s portfolio of LNG offtake and supply contracts, which includes additional access to strategic gas markets in Asia and Europe. By integrating these into Shell’s global LNG portfolio, Shell is strongly positioned to deliver value from this transaction while helping to meet the energy security needs of our customers.”

The acquisition will be absorbed within Shell’s cash capital expenditure guidance, which remains unchanged. The deal is in excess of the internal rate of return (IRR) hurdle rate for Shell’s Integrated Gas business, delivering on its 15-25% growth ambition for purchased volumes, relative to 2022, as outlined during the 2023 Capital Markets Day.

Integration of portfolios will commence after completion of the deal, which is expected by Q1 2025, subject to regulatory approvals and fulfilment of other conditions precedent.

 

Photo credit: Pavilion Energy
Published: 19 June 2024

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Winding up

Singapore: Liquidator of Vanda Marine Services issues notice of dividend

First and final dividend of company is payable from 23 January at Rock Stevenson Pte Ltd, 8 Burn Road, Trivex #16-12, Singapore 369977, according to Government Gazette notice.

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calculator steve pb from Pixabay

A notice was published in the Government Gazette on Thursday (22 January) regarding the first and final dividend to creditors of Vanda Marine Services Pte Ltd.

The following are details of the notice of dividend of the company:

Name of Company : Vanda Marine Services Pte Ltd(In Creditors’ Voluntary Liquidation)

Unique Entity No. / Registration No. : 201209660C

Address of Registered Office : 8 Burn Road, Trivex #16-12, Singapore 369977

Amount per centum : 23 per centum of all admitted ordinary claims

First and Final or otherwise : First and Final

When payable : 23 January 2025 onwards

Where payable : c/o Rock Stevenson Pte Ltd, 8 Burn Road, Trivex #16-12, Singapore 369977

Manifold Times previously reported several resolutions for Vanda Marine Services, including winding up the company voluntarily, were passed during an extraordinary meeting in March last year.

Related: Singapore: Vanda Marine Services liquidator issues notice of intended dividend
Related: Singapore: Liquidators arrange creditors meeting for Vanda Marine Services
Related: Singapore: Vanda Marine Services undergoes voluntary liquidation

 

Photo credit: steve pb from Pixabay
Published: 23 January, 2025

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Methanol

China launches first simulation training platform for methanol bunkering operations

Through the real-life simulation, the platform helps ship operators improve their safety management and emergency response capabilities, improving the development of green shipping technologies.

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Zhoushan Port Anchorage

China launched its first training platform to simulate methanol bunkering operations at Putuo District, Zhoushan on 15 January. 

The Methanol Bunkering System Simulation Training Platform V1.0 was created to fill technical gaps in domestic methanol bunkering training and exercises, in light of the growing demand and popularity for methanol in the shipping industry.  

Through the real-life simulation, the platform helps ship operators improve their safety management and emergency response capabilities, improving the development of green shipping technologies.

The platform was jointly developed by Zhejiang Ocean-U New Energy System Engineering and Zhejiang Ocean University. 

At the press conference , Zhejiang Ocean-U New Energy System Engineering successfully signed its first purchase agreement with Seacon Ships Management (Zhejiang), making Seacon the first customer to purchase the platform service. 

Wang Guofeng, chairman of Seacon, said that the platform has great potential in improving crew operating efficiency and safety, and he looks forward to deeper cooperation with Zhejiang Ocean-U New Energy System Engineering in the future.

Professor Lu Jinshu, Vice President of Zhejiang Ocean University, said they will continuously improve the platform to contribute more in the field of green shipping solutions to the industry. 

 

Photo credit: Manifold Times
Published: 23 January, 2025

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Hydrogen

Klaipėda Port launches Lithuania’s first hydrogen-powered vessel

Tanker’s power system, which will consist of two electric motors powered by 2,000 kWh batteries and a hydrogen fuel cell system, will enable it to operate for up to 36 hours without additional power charging.

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Klaipėda Port launches Lithuania’s first hydrogen-powered vessel

Klaipėda State Seaport Authority on Wednesday (22 January) said the first ever green hydrogen and electricity-powered ship in Lithuania has been moved from shipyard into water. 

Leaving no trace on the environment, it will clean other vessels entering the port, accepting waste from them.

According to the current rules, vessels are obliged to hand over the waste they produce when they arrive and before they leave Klaipėda Port. The Seaport Authority was entrusted with the collection of the waste, and the company decided to use modern and environmentally friendly equipment to further improve the quality of the ship waste collection service.

The tanker’s main function is to collect storm water, sewage, sludge and garbage, as well as to ensure efficient waste management. The ship will be equipped with special tanks and a modern rainwater treatment plant that will allow the treated water to be transferred to the city’s sewage treatment plants. The tanker will be ready to work around the clock and collect up to 400 cubic metres of liquid waste.

The tanker is 42 metres long and 10 metres wide. The ship’s power system will consist of two electric motors powered by 2,000 kWh batteries and a hydrogen fuel cell system. Depending on the intensity of the work, the tanker will be able to operate in the port of Klaipėda for up to 36 hours without additional power charging.

This ship building project with a total value of EUR 12 million (USD 12.5 million) has been commissioned by the Port Authority and is being built by West Baltic Shipyard together with Baltic Workboats under a joint operating agreement.

“We have not only launched a tanker, but also a new approach to port operations – cleaner, smarter and more environmentally friendly. This first ever hydrogen and electricity-powered ship is not only an innovative technological solution, but also an important step in strengthening Lithuania’s image as a modern maritime nation,” said Algis Latakas, Director General of Klaipėda State Seaport Authority.

“At the moment, the tanker is getting used to the seaport water, so to speak, and at the end of the year we expect it to start its important mission of taking care of the clean seaport environment. Such a decision will not leave a footprint on nature, but it will certainly leave a strong mark on our path to a greener future.”

In June last year, a symbolic keel-laying ceremony at the West Baltic Shipyard of the West Baltic Shipyard Group marked the start of the ship’s construction. To date, the hull has been fabricated and painted, with piping, valves, coolers, shaft lines, rudder feathers, heat and fire insulation installed.

Once the tanker is moved into the water, the engine room equipment will be installed, the interior of the wheelhouse will be redecorated, the electrical wiring and the main electrical engines will be installed, the hydrogen system will be installed and other work necessary for the operation of the ship will be carried out.

 

Photo credit: Klaipėda State Seaport Authority
Published: 23 January, 2025

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