A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urge more stakeholders to consider use of hedging to even out freight rate peaks and troughs. Speaking at the Baltic Exchange Tanker & Gas Market Insights Forum 2023, Benjamin Gibson, partner of …
From the first appointed surveyors in 1872 to the building of the Royal Australian Navy’s flagship HMAS Canberra to LR class in 2017, Lloyd’s Register has a long and proud history in Australia. With Australian shipbuilding undergoing significant change since those first surveyors were appointed, LR has been a central part of the key projects …
The Jumbo-SAL-Alliance (JSA) has commenced its scope of work in the Basrah Refinery Upgrading Project for JGC Corporation. It is one of the largest projects ever undertaken by the Alliance. The Jumbo Javelin loaded the first of 19 transports at Dahej India. Dedicated vessels The project will see the Jumbo-SAL-Alliance undertake the transportation of a …
Drewry’s composite World Container Index decreased by 1% to $1,790.36 per 40ft container this week. Our detailed assessment for Thursday, 16 March 2023 The composite index has decreased by 1% this week, and has dropped by 80% when compared with the same week last year. The latest Drewry WCI composite index of $1,790 per 40-foot …
The International Maritime Organization (IMO) has a historic opportunity in the next three months to put the global shipping industry on an equitable, 1.5°C-aligned decarbonisation pathway. Governments must use the upcoming meeting of the Intersessional Working Group on Greenhouse Gases (ISWG-GHG-14) to support science-based climate targets for 2030 and 2040 that are vital for this …
300 terawatt hours (TWh) of green hydrogen could potentially be produced using electricity from offshore wind farms in the North Sea by 2050, and used not only to decarbonize hard-to-abate sectors but also to boost the security of energy supply in Europe, a new study has shown.
The global energy crisis has put the security of supply at the top of the countries’ agenda worldwide, leading to elevated prices, tight supply and high energy demand. As a result, the U.S. Energy Information Administration (EIA) believes that the increased demand will bolster American natural gas production while accelerated electrification and more zero-carbon power …
Following an explosion during routine maintenance, which damaged a floating storage and offloading (FSO) unit operated by a Thai subsidiary of Chevron, Thailand has ordered its navy to join the efforts being undertaken to prevent an oil spill from the vessel. FSO Benchamas 2; Source: MISC Berhad The FSO Bechamas 2, which is carrying 400,000 …
Since the introduction of G7 oil price cap for Russia’s crude oil and refined products there have been speculations on Russia’s so-called shadow fleet being used to evade sanctions. Illustration; Image credit Rosmoport Russia has repeatedly stated that it will not work with the price cap, but the vast majority of seaborne Russian oil shipments …
S&P Global: Russia’s ghost fleet estimated at 434 vessels Read More »
JDR Cable Systems has begun the subsea cable termination and testing works on behalf of its client Parkwind for the Arcadis Ost 1 offshore wind farm in Germany. Vos Prodect (Illustration) In 2021, JDR won a contract to supply, test, and terminate 45 kilometres of 33 kV array cable that will connect the wind farm’s …
