Manifold Times’ Post

#LNG bunkering volumes in the Dutch Port of Rotterdam continue to rise as the global fleet of LNG-fueled vessels expands. #lngprime Gate terminal B.V. https://lnkd.in/gibF3mia

#LNG bunkering volumes in the Dutch Port of Rotterdam continue to break records, as the global fleet of LNG-fueled vessels keeps growing. #lngprime Gate terminal B.V.

PetroChina Fuel Oil secures first bonded bunkering licence in Tianjin Firm has been approved for six bunkering licenses and has formed a coverage of major ports in the Yangtze River Delta, the Greater Bay Area, and the Beijing-Tianjin-Hebei region. https://lnkd.in/gP4nBSE5 #bunkers #bunkering #maritime #shipping #marinefuel #marinefuels #bunkerindustry #bunkerfuel #maritimenews #maritimeindustry #maritimetransport #maritimesector #maritimeservices #shippingnews #shippingindustry #shipsandshipping #shippingworldwide #china #chinanews #chinamarket #chinabusiness #chinainsights

KOSPO launches tender for one LNG cargo

QatarEnergy signs long-term time charter party agreements for nine Q-Max LNG vessels with Chinese companies LNG is fast moving and in a rapid development of events, QatarEnergy has followed their announcement of building 18 Q-Max (271,000 CBM) LNG vessels in Chinese shipyards by awarding nine of these vessels to Chinese shipowners - China Merchants Group, Shandong Marine Group, and China LNG Shipping (Holdings) Limited.  This is the first time that Q-Max LNG vessels will be owned by entities outside Qatar. Up till now, Nakilat has operated 14 Q-MAX LNG vessels. These LNG vessels will be used to meet the transportation requirements of QatarEnergy ongoing North Field expansion program, Golden Pass LNG project in the US and for fleet replacement. Earlier this week, QatarEnergy had awarded contracts to China State Shipbuilding Corporation (CSSC) for the construction of 18 Q-Max LNG vessels. These contracts are valued at about USD 6bn, translating into USD 333mn for each Q-Max LNG vessel. As we mentioned previously, we expect Nakilat to be awarded part of these Q-Max LNG vessels given their existing business relationship with QatarEnergy and their expertise in operating Q-Max vessels. China is the world’s largest LNG importing country and the country’s LNG imports have grown 15.6% between 2019 and 2023 and constitute about 17.3% of global LNG imports. The country’s LNG imports should continue to trend up given the country’s ongoing coal-to-gas switch. Chinese players have taken stakes in Qatar’s North Field LNG expansion plan and have signed multiple long-term LNG sale and purchase agreements.  For an idea of potential IRR, please refer to our thought piece in which we analyzed potential IRR to Nakilat for multiple orders from QatarEnergy. This analysis though is for a conventional ME-GI/X-DF LNG vessel -  https://lnkd.in/gzna6T-c #lng #shipping #qatarenergy #China #Qatar To learn more about our equity research services, please write to us - financialresearch@drewry.co.uk

Japan’s Mitsui OSK Lines (MOL) has been linked to a double order for very large gas carriers (VLGCs) in South Korea. The Tokyo-headquartered shipping giant has contracted both Hanwha Ocean and HD Hyundai Heavy Industries to each build two 88,000 cu m units for delivery in the second half of 2027, according to brokers. The LPG dual-fuel newbuilds at Hanwha Ocean came at about $118.5m, while the duo at the Ulsan-based HD Hyundai Heavy is costing $121m each. MOL has been looking to bolster its LPG and liquefied ammonia gas fleet as Japan is set to increase its imports in the years to come and shipbuilding sources suggest more orders could be on the cards. Earlier this year, the shipowner also signed up for two 88,000 cu m newbuilds at HD Hyundai Samho Heavy Industries for delivery in 2026. These vessels have been fixed to French energy major TotalEnergies’ shipping division, CSSA Chartering & Shipping Services (CSSA).

French shipping major CMA CGM and China’s Shanghai International Port (Group) have completed the 100th simultaneous operation (SIMOPS) LNG bunkering at the Shanghai Yangshan terminal. Read more: https://lnkd.in/du8ASAiS #LNG #bunkering

The Panama Canal faced a significant drop in traffic volume in FY2024 due to a severe drought, reducing transits by 29%. 🌊🚢 The daily number of transits fell from 36 to 22, impacting all shipping sectors except container vessels. Neo-Panamax vessels saw a 21% decline in discharges, while LNG carriers experienced a 66% reduction. The Panama Canal Authority is implementing a new Long-Term Quota Allocation to enhance transit security and flexibility. #PanamaCanal #ShippingIndustry #Sustainability #GlobalTrade

Interesting story of how Japanese and some Euro LNG customers have evolved into demand side market makers, competing with long-side IOCs. Keys are access to carriers, flex LNG supply, and import markets.