LNG shipping under threat from cargo diversions

LNG shipping under threat from cargo diversions

If Asian buyers continue to divert their contracted supply from the US towards Europe and Latin America, it will reduce demand for LNG vessels in the long term by cutting down on long-haul trade, according to the latest …
Nov 4, 2016 /  Curious
South Korea looks to position as new LNG bunkering hub to boost bargaining power

South Korea looks to position as new LNG bunkering hub to boost bargaining power

South Korea will step up efforts to turn its coast into a regional LNG bunkering hub as it tries to boost its role as a major buyer, a senior government official said. “If South Korea establishes a major LNG …
Jul 18, 2016 /  Curious
Tankers: Rates soften on seasonal demand weakness

Tankers: Rates soften on seasonal demand weakness

Freight rates in the tanker market softened in both dirty and clean segments in May because of seasonal weakness in demand and ample tonnage supply. Chemical/Oil Products Tanker Sunshine State - Image courtesy: …
Jun 14, 2016 /  Curious
Chem freights rise on methanol, ethanol surge

Chem freights rise on methanol, ethanol surge

The mood in chemical shipping has turned buoyant lately, mostly because of all the methanol and ethanol cargoes on the high seas. “In the Western Hemisphere, times have been good lately,” the Netco …
Apr 18, 2016 /  Curious
Multipurpose shipping awaits an elusive recovery

Multipurpose shipping awaits an elusive recovery

The multipurpose shipping market is not expected to recover until the end of 2017, when it is anticipated that there will be more bulk demand for the Handy vessels and therefore more breakbulk cargoes for multipurpose …
Apr 15, 2016 /  Curious
Baltic index touches new record low on muted vessel demand

Baltic index touches new record low on muted vessel demand

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand. The overall index, which gauges the cost …
Feb 9, 2016 /  Finance
ExxonMobil: Natural gas demand to rise 50 pct

ExxonMobil: Natural gas demand to rise 50 pct

Texas-based energy giant ExxonMobil said in a report on Monday (Jan 25) that natural gas and LNG are expected to meet about 40 percent of the growth in global energy needs and demand for the fuel will increase by 50 …
Jan 26, 2016 /  Curious
Real LNG growth yet to come

Real LNG growth yet to come

Wood Mackenzie’s latest review of the global LNG industry concludes that the market was characterized by weak Asian demand in 2015, with a year-on-year decline of 2%. As a result, many LNG players shifted their …
Jan 17, 2016 /  Curious
Restructuring in Havyard cuts 100 staff

Restructuring in Havyard cuts 100 staff

Havyard Group, a Norwegian offshore yard and ship technology supplier, has announced the implementation of new measures to deal with the general market downturn. As part of these, the company will cut around 100 …
Aug 14, 2015 /  Finance