Financial institution Societe Generale on Tuesday became the first bank to join SEA/LNG coalition, a multi-sector industry group created to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel.
Societe Generale will bring an essential financial perspective to the group, says the chairman and executive vice president of SEA/LNG coalition.
“Innovative financing is a core component to breaking down barriers to adoption and Societe Generale is at the forefront of developing frameworks to support this
evolution,” says Peter Keller.
“We are therefore delighted to welcome them to our growing coalition and look forward to benefiting from their extensive knowledge and experience.”
Paul Taylor, Global Head of Shipping Finance, Societe Generale Corporate & Investment Banking, believes the use of LNG as a marine fuel to be gradually becoming a “global reality”.
“Societe Generale wants to play a key role in supporting the SEALNG coalition to realise its goal of making LNG a viable maritime fuel for 2020 and beyond,” he notes.
“This strategic membership will help develop a long-term financial framework which we hope will contribute to, and supplement, the work of other industry leaders in the LNG shipping value chain.”
Societe Generale in December 2017 supported the first transaction for the European Union’s recently instituted Green Shipping Guarantee programme which is designed both for general fleet renewal and the retrofitting of ships with sustainable technologies.
The bank acted as the sole mandated lead arranger, lease investor, facility and security agent, hedge provider, and lender in a EUR 142.6 million French lease financing of Honfleur, the first LNG-powered ferry to be commissioned by Brittany Ferries.
Publication date: 10 January, 2018
Hyundai Mipo Dockyard is building 18,000 cbm capacity LNG bunkering vessels for Korea based owners Pan Ocean and Korea Line LNG.
The simulator will be based at Kota Kinabalu in the company’s headquarters, says its Executive Director.
At the time of delivery, the newbuilding will still be subject to a full review of documentation requirements pertaining to the applied rules.
Coralius’s first bunkering was in September 2017; she reached the 100th bunkering mark in February last year; her 200th delivery was achieved this week, says the company.
Results of the development will be released in a video with accompanying 3D models in January 2022 at the time of the project’s completion.
‘It makes absolute sense for Singapore to secure an early seat within the green economy in order to ready itself as a node for the green shipping corridor,’ says Dr Sanjay C. Kuttan, GCMD CTO, tells Manifold Times.
“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.
‘When you think of Helmsman on the next occasion, think of us as lawyers with expertise in various fields. Come to us before a problem develops. It’s the process that matters,’ says Tang Chong Jun, Executive Director.
