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LNG Bunkering

Shell to supply “MSC Euribia” with LNG bunker fuel under new deal

Firm recently completed the first bunkering operation of the line’s second LNG powered newbuild in Rotterdam, under new agreement with MSC Cruises for LNG marine fuel supply.

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MSC Cruises on Thursday (19 October) said it has entered an agreement with Shell Western LNG for the fuel supplier to provide liquefied natural gas (LNG) for its flagship MSC Euribia

Shell Western LNG recently completed the first bunkering operation of the line’s second LNG powered newbuild in Rotterdam, under the agreement.

“This new agreement is in addition to the ongoing strategic cooperation between MSC Cruises and Shell towards achieving broader shared decarbonisation objectives, a collaboration which has been in place since 2021,” Shell Marine said in a social media post. 

MSC Euribia is currently operating seven-night cruises until April 2024 in northern Europe from Hamburg to Rotterdam, Zeebrugge, Le Havre and Southampton before returning to the north German port.

MSC Cruises has invested EUR 3 billion (USD 3.2 billion) in three LNG-powered cruise ships. MSC World Europa was launched in December 2022, MSC Euribia in June 2023 and MSC World America will join the fleet in 2025.

Pierfrancesco Vago, Executive Chairman, MSC Cruises, said: "LNG is an important step forward in our ambition to achieve net zero greenhouse gas emissions by 2050. The fuel is one in transition and poised to make way for carbon-neutral bio-LNG and eventually synthetic LNG that we will look forward to using as and when they become available at scale as part of our longer-term decarbonisation journey.” 

Tahir Faruqui, General Manager, Shell Global Downstream LNG, said: "This agreement illustrates how LNG provides shipping companies with a scalable path to net-zero emissions, allowing them to flexibly transition from fuel oil to fossil LNG today, and subsequently to bio-LNG and renewable synthetic LNG as these options become accessible.”

“With an extensive LNG bunkering network, we stand prepared to support major players like MSC Cruises on its energy transition."

Related: MSC Cruises’ first LNG-fuelled vessel “MSC World Europa” arrives in Europe
Related: TotalEnergies Marine Fuels completes first LNG bunkering op for “MSC World Europa”
Related: “MSC Euribia” set to embark on bio-LNG voyage for four days to Copenhagen
Related: “MSC Euribia” completes bio-LNG maiden voyage from Saint-Nazaire to Copenhagen
Related: Cruise ship “MSC Euribia” uses 43 tonnes less bio-LNG bunker fuel than planned
Related: SEA-LNG, MSC to explore bio-LNG and synthetic LNG with MSC entry as coalition member
Related: MSC Cruises signs agreement with Gasum for LNG and e-LNG bunker supply

Photo credit: MSC Cruises
Published: 20 October, 2023

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LNG Bunkering

Seaspan Energy takes delivery of first LNG bunkering vessel

“Seaspan Garibaldi” will take first cargo and finalise commissioning in Vancouver before its first ship-to-ship bunkering in Long Beach, where Seaspan will bunker a series of vessels.

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Seaspan Energy takes delivery of first LNG bunkering vessel “Seaspan Garibaldi”

Seaspan Energy on Monday (7 October) said it took delivery of its first LNG bunkering vessel, the Seaspan Garibaldi and is currently sailing to Vancouver.

Manifold Times previously reported that the vessel is the first of three 7,600m3 LNG bunkering vessels and it is named after Mount Garibaldi, or “Nch'ḵay̓”.

The Garibaldi will take first cargo and finalise commissioning in Vancouver before its first ship-to-ship bunkering in Long Beach, where Seaspan will provide Simultaneous Operations to bunker a series of vessels.

Following its first bunkering, the Seaspan Garibaldi will continue to provide low-carbon solutions to vessels on the West Coast of North America and will soon be joined by Seaspan Energy’s second LNG bunkering vessel, the Seaspan Lions (Ch’ich’iyúy Elxwíkn).

The Seaspan Garibaldi is 112.8 metres in length, 18.6 metres in width, 5 metres in draft, with a design speed of 13 knots.

CIMC Sinopacific Offshore & Engineering (CIMC SOE), a small-scale gas carrier shipyard in the world, was appointed to build all three LNG bunkering vessels.

Related: Seaspan launches “Seaspan Garibaldi”, first of three LNG bunkering vessels

 

Photo credit: Seaspan
Published: 9 October, 2024

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LNG Bunkering

Avenir LNG, Eni ink multi-year charter for LNG bunker vessel “Avenir Aspiration”

Avenir signed a Time Charter Party with Eni subsidiary LNG Shipping for one of the company’s 7,500cbm LNG bunker vessels; charter to Eni will commence from delivery in Europe in 2025.

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Avenir LNG orders two 20,000cbm LNG bunker and supply vessels from CIMC SOE

Avenir LNG Limited on Tuesday (8 October) announced it has signed a Time Charter Party (TCP) with LNG Shipping S.p.A., a 100% subsidiary of Eni S.p.A.(Eni) for one of the company’s 7,500cbm LNG bunker vessels, the Avenir Aspiration

The multi-year time charter to Eni will commence from delivery in Europe in 2025.

With this announcement, Avenir continues to deliver on its chartering strategy which has successfully concluded four new term charter agreements over the past 12 months across its fleet of five vessels on the water and two under construction.

This charter increases the company’s third-party charter revenue backlog, including options, to over USD 285 million, securing additional long term sustainable cashflow for the Group and shareholders over the next decade.

The Avenir Aspiration currently trades alongside the Avenir Ascension in the Northwest Europe performing small-scale supply services and ship-to-ship bunkering operations as part of Avenir’s physical LNG trading division, Avenir Supply and Trading.

Mr. Jonathan Quinn, Managing Director of Avenir LNG, said: “We are excited to be working with Eni to support their expansion into the LNG Bunkering market.”

“This transaction further solidifies Avenir as the trusted partner for modern and efficient small-scale LNG vessels as well as delivering on our strategy to facilitate the growth of LNG as a marine fuel globally.”

“We look forward to embarking on this long-term relationship with Eni whom we will serve with the highest safety and operational standards which Avenir has come to be known for.”

 

Photo credit: Avenir LNG
Published: 9 October, 2024

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Alternative Fuels

Interview: Bunker trading firm ElbOil looks to China market for continued growth

With many achievements under its belt since 2011, ElbOil Group goes into details on its entry into the China market, its business expansion there and outlines plans heading towards alternative bunker fuels.

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Interview: Bunker trading firm ElbOil looks to China market for continued growth

Singapore-based bunkering publication Manifold Times recently interviewed Harro Booth, Managing Director of bunker trading firm ElbOil Group, on its entry and business expansion into the China market. Booth also outlined the company’s adoption plans to include alternative bunker fuels within its portfolio:

MT: Established since 2011, how has the ElbOil Group grown to date and what were the milestones accomplished during this period?

ElbOil was founded in 2011 with a primary focus on bunker fuel trading, catering to the shipping and marine industry. In the beginning, the company concentrated on building relationships with key suppliers and establishing a foothold in major trading hubs like Singapore, Rotterdam, and Fujairah.

Fast forward to 2019 and 2020, the company has transitioned its portfolio to compliant fuels, including very low sulphur fuel oil (VLSFO) and alternative marine fuels like LNG. ElbOil holds the license of a certified Biofuel Trading Entity since 2020 with Red Cert.

In 2020, to strengthen its position, ElbOil expanded by opening an additional trading office in Singapore and this allowed for better local market coverage, and faster response times to clients demands.

Over the years, ElbOil’s growth trajectory has been marked by a series of strategic milestones, from geographical expansion to digital transformation and regulatory adaptation.

Today, it stands as a global player in bunker fuel trading, with a strong focus on sustainability and innovation.

MT: Which year did ElbOil enter the China market and what were the push/pull reasons for this development?

After ElbOil set up Singapore office in 2020, we understand the rapid development of the Chinese market and Chinese shipowners are making an increasing share of the global shipping market. We hired two experienced traders to expand into the Chinese market in 2021 to 2022.

Additionally, ElbOil's growth in China complements its global expansion, as seen through its strengthened leadership team, especially with the addition of seasoned professionals to its management. These steps have helped the company build a strong foundation within China's maritime sector.

MT: Since initiation of the China business to date, what milestones have the company accomplished within this market?

Over the past two to three years, we have been providing our services to over 100 Chinese owners, operators, achieving over 800,000 mt of supplied volume at global ports for our Chinese customers.

In 2020, we started our Chinese ports supply through our partner in China who has over 20 years of trading experience. We have established credit lines totalling over USD 20 million credit lines with most Chinese suppliers. These milestones indicate ElbOil’s growing presence and strategic importance in the Chinese maritime industry.

MT: What value propositions does ElbOil offer for the Chinese shipping sector?

Based on the priority of our customers' interests and our knowledge of ports around the world, we provide customers with the most optimal bunkering solutions.

We take advantage of our global presence to provide accurate port information to our customers in ports and regions that are unfamiliar through our global expertise and local adaption.

As a member of the European Union, we provide our Chinese customers with the latest updates on the new EU regulations. We assist customers in arranging what they need.

MT: What plans does ElbOil have for the Chinese market and how will the firm achieve them?

We hope that with our professional service and spirit, we can win the trust of more Chinese customers. The Chinese market is a market that we should strive for more vigorously, and we also hope that with our assistance, Chinese shipowners and shipping operators can reduce unnecessary risks.

ElbOil has a long history of green energy, and we believe that we will provide customers with more professional guidance and services for the green energy transformation of the shipping market in the future.

We will have our Shanghai Rep office set up in early 2025, and we will have our local team to maintain more effective communication with our customers.

MT: Can you describe a marine fuels industry related challenge you were proud the ElbOil team overcame, and how was this challenge resolved?

The war in Ukraine, which began in early 2022, created a profound disruption in global energy markets, including the marine fuels (bunker) sector. The conflict led to sanctions on Russian oil exports, major supply chain disruptions, and dramatic price volatility in crude oil and refined products like fuel oil, which are essential for the shipping industry.

By taking swift, decisive action, the ElbOil team successfully navigated the challenges posed by the Ukraine war. ElbOil's ability to diversify its supply chain, implement robust price risk management strategies, and ensure full compliance with sanctions by investing a high six-digit number allowed the company to maintain business continuity for its clients.

Despite the chaos and uncertainty in the global energy markets, ElbOil's proactive approach helped secure stable fuel supplies, provided financial security through hedging, and strengthened customer trust through transparent communication and compliance. As a result, ElbOil emerged from the crisis more resilient and with stronger customer relationships than before.

MT: Moving forward, what is ElbOil doing to remain relevant within the marine fuels market heading into IMO 2030/2050?

As the marine fuels industry heads towards stricter environmental regulations, such as IMO 2030 and IMO 2050, ElbOil is proactively positioning itself to remain relevant by embracing innovation, sustainability, and digital transformation. Here’s a detailed outline of what ElbOil is doing to prepare for and thrive in the evolving market:

To align with the IMO 2030 target of reducing CO2 emissions per transport work by 40%, and the IMO 2050 goal of cutting total greenhouse gas emissions by 50%, ElbOil is actively diversifying its fuel portfolio to include cleaner and alternative fuels even with the possibility of direct supplies and production.

This shift is essential as shipping companies seek to comply with increasingly stringent regulations.

  • Biofuels and Renewable Energy: ElbOil is forming partnerships with biofuel producers to supply second-generation biofuels, which offer a significant reduction in carbon emissions. These biofuels are derived from sustainable sources like used cooking oil and waste materials, helping clients reduce their carbon footprint.
  • LNG and Ammonia: As Liquefied Natural Gas (LNG) becomes a popular transitional fuel, ElbOil is ready to supply LNG and or ammonia to their clients due to some co- operations with suppliers.
  • Carbon-Neutral Solutions: ElbOil is offering carbon offset programs, allowing customers to purchase carbon credits to offset the emissions from traditional fuel consumption, ensuring their operations are carbon-neutral.
  • Carbon Capture: ElbOil is already invested in startups and investing in carbon capture and therefore contributes to our responsibility to a cleaner and green future.

Digitalisation is critical for efficiency, transparency, and regulatory compliance in the future marine fuels market. ElbOil is leveraging cutting-edge technologies to streamline its operations and offer more value to customers.

Collaboration is key to driving the maritime industry’s transition to a cleaner future. ElbOil is forging sustainability-driven partnerships with stakeholders across the shipping, refining, and fuel technology industries.

Environmental, Social, and Governance (ESG) standards are becoming increasingly important for companies operating in the marine fuels sector. ElbOil is positioning itself as a leader in ESG compliance, aligning its operations with global sustainability standards as having invested and being a board member of ESG NRG A/S, a Norwegian startup offering a full stop solution of compliance and reporting in EU -ETS and EU Fuel Maritime solutions.

As the industry moves toward IMO 2050, which aims for a 50% reduction in total greenhouse gas emissions from shipping, ElbOil is taking a long-term view of the transition to zero- carbon fuels.

  • Research and Innovation in Zero-Emission Fuels: ElbOil is investing in research to better understand and commercialise future fuels such as biofuels, hydrogen, green methanol, and synthetic fuels. These fuels are critical for achieving the deep decarbonisation needed for IMO 2050.

ElbOil is committed to future-proofing its operations and maintaining relevance in the marine fuels market as it transitions toward a low-carbon future. Through investments in alternative fuels, digital innovation, sustainable partnerships, and compliance with evolving regulations, ElbOil is positioning itself as a leader in helping the maritime industry meet the IMO 2030 and IMO 2050 goals.

This forward-thinking strategy not only supports the decarbonisation of shipping but also ensures that ElbOil remains a trusted and reliable partner for shipowners and operators seeking sustainable and cost-effective marine fuel solutions.

 

Photo credit: Manifold Times
Published: 9 October 2024

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