Japan’s Tokyo Gas to expand LNG trading business

Energy News Beat

Tokyo Gas revealed this in its new medium-term management plan.

“Internationally, we will focus on ensuring profitability in our shale gas business while expanding into mid/downstream operations in the US and LNG trading worldwide,” the company said

In Japan, Tokyo Gas owns four LNG import terminals (Sodegaura, Negishi, Ohgishima, and Hitachi), and it buys LNG from various countries in the world, including the US, Qatar, Malaysia, etc.

In 2020, Tokyo Gas formed its LNG trading unit, TG Global Trading, to boost LNG trading volumes.

The firm said in the medium-term report that it aims to expand LNG trading by leveraging its existing assets such as current supply contracts, and boost value proposition through close communications with its business partners.

Japan's Tokyo Gas to expand LNG trading business

Tokyo Gas aims for a total LNG trading volume of 5 million tonnes a year by 2030.

The firm plans to expand LNG trading volumes, mainly through Singapore and London.

Tokyo Gas said US shale gas assets are the core of its plans for overseas expansion.

“US LNG exports growth increase the value of the Haynesville (HV) area, where TGNR is the No.4 producer,” it said.

“Our upstream-focused local management enables us to maintain 1Bcfed production and around $2/MMbtu unit cost,” it said.

 

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German consortium produces e-methanol from wastewater

Energy News Beat

A German city is producing methanol for ships from wastewater in a world-first.

A consortium consisting of the climate technology startup ICODOS, the Karlsruhe Institute of Technology (KIT), and the Mannheim Municipal Wastewater Treatment Plant (EBS) have overseen the project called Mannheim 001 which sees biogas is produced at the Mannheim wastewater treatment plant processed, purified and, in combination with electricity and hydrogen, converted into methanol.

“We are proud to present the world’s first plant that uses electricity to convert wastewater into sustainable marine fuel,” said Dr Vidal Vazquez, technical director of ICODOS .

“This technology will transform the shipping industry for good and make a decisive contribution to reducing CO2 emissions,” added David Strittmatter, commercial director of ICODOS.

“To achieve our “Mannheim 001 demonstrates how economic efficiency and climate protection can go hand in hand. This project can serve as a model for many other locations in Germany and Europe,” said federal transport minister Dr Volker Wissing.

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Imabari hit by overseas recruitment ban

Energy News Beat

At a time when it needs overseas help more than ever before, Japan’s largest shipbuilder has been hit with a five-year ban on accepting foreign trainees.

Imabari Shipbuilding has lost its official certification for foreign technical intern programs through to the end of the decade for violating the industrial safety and health law, the Immigration Services Agency has said. Moreover, all trainees currently working at Imabari will be transferred to other companies.

Details of what Imabari has done wrong to receive such a penalty have not been revealed.

Japan was the largest shipbuilding nation at the start of the century but has seen its position eroded by China and South Korea over the last 25 years, with local demographics playing against the sector and forcing changes in immigration laws to get in overseas workers to help out.

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AD Ports and Columbia launch shipmanagement venture

Energy News Beat

Abu Dhabi-based ports and logistics giant AD Ports Group and shipmanagement group Columbia have established a joint venture, Noatum – CSM.

The jv will aim to optimise third-party vessel operations and that of AD Ports Group’s fleet through “state-of-the-art” fleet management systems.

The newly formed entity combines Columbia Group’s expertise in advanced fleet management systems and AI-driven performance analytics with AD Ports Group’s diverse fleet and extensive ship management experience, both globally and regionally, the companies said in a joint statement.

The venture is expected to benefit from immediate access to Columbia’s digital platform, which provides continuous live monitoring and decision support tools to optimise voyages, speed, bunker usage, and emissions.

“This partnership symbolises a pivotal advancement in maritime asset management, merging the strengths of Columbia Group and AD Ports Group. As we expand our capabilities, we are benefitting our clients by elevating quality and efficiency,” said Ammar Mubarak Al Shaiba, CEO of the Maritime & Shipping Cluster at AD Ports Group.

Mark O’Neil, president and chief executive of Columbia Group, added: “This partnership marks a significant milestone in our shared vision to set new standards in maritime asset management. Combining Columbia’s global expertise with AD Ports Group’s strong presence in the Middle East will drive operational excellence and innovation in the region’s maritime sector.”

Noatum – CSM will be based in the UAE and support day-to-day management and introduce comprehensive crew management, procurement, training, and other operational services.

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Norden bags pair of capesize newbuilds

Energy News Beat

Dry CargoEurope

Denmark’s Norden has firmed up its commitment to the capesize bulker segment through a deal for a pair of newbuildings.

The Hellerup-based shipping giant will take the vessels on charter, with purchase options attached to the contract.

The vessels will be built in Japan, with deliveries set for 2026 and 2027. No further details have been disclosed.

The move is in line with the company’s positive long-term outlook for capesize rates, Norden said.

“This will enhance our ability to serve customers reliably and ensure we remain at the forefront of sustainable and cost-effective shipping against a backdrop of an ageing fleet and historic low orderbook.”

Norden moved into the capesize segment about two years ago. Following the latest deal, the Jan Rindbo-led owner and operator counts 13 owned and leased capes, including seven newbuildings and also operates 10 vessels on short-term charter.

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Larsen & Toubro wins largest ever contract from QatarEnergy LNG

Energy News Beat

The hydrocarbon arm of Indian engineering conglomerate Larsen & Toubro (L&T) has received a contract for work on QatarEnergy LNG’s North Field production sustainability offshore compression project.

According to a regulatory filing, the contract is the largest single contract ever received by the company. The scope of work encompasses the engineering, procurement, fabrication, installation, and commissioning of two offshore compression complexes.

Each complex comprises large offshore platforms with compression and power generation facilities, living quarters, flare platforms, interconnected bridges, and other associated structures. They will be located some 80 km off the northeast coast of Qatar.

The company did not disclose full financial details, but it did state that it was an “ultra mega” order, which is the highest classification saved only for contracts above ₹15,000 crore ($1.75bn).

“Securing QatarEnergy LNG’s ultra mega offshore contract, the largest single order in our history, is a landmark achievement. This prestigious project strengthens our global energy portfolio while supporting Qatar’s energy security objectives,” said S.N. Subrahmanyan, chairman and managing director of L&T.

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UN raises alarm over increase in jamming and spoofing of satellite navigation systems

Energy News Beat

Increasing incidents of interference with aviation, maritime and other satellite telecommunications services mean states need to urgently enhance their protection of a critical radio-frequency band, the International Telecommunication Union (ITU), the International Civil Aviation Organization (ICAO), and International Maritime Organization (IMO) have said with “grave concern” in a joint statement.

These cases of harmful interference are in the form of jamming and spoofing that disrupt Global Navigation Satellite Systems (GNSS) operating in the frequency bands allocated to the Radio Navigation Satellite Service (RNSS).

The joint statement has been signed by the secretaries-general of the three UN specialised agencies.

IMO secretary-general Arsenio Dominguez said: “The safety of seafarers and shipping relies on the resilience of systems to support safe navigation and communication. Interference with Global Navigation Satellite Systems poses a serious risk to shipping activities, which could cause collisions and grounding. I urge all member states to act to protect these critical systems.”

ICAO secretary-general Juan Carlos Salazar said: “Radio Navigation Satellite Service interference can impact aircraft operations far beyond the immediate affected area, creating potential safety risks across multiple flight regions.”

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Evergreen sets world record price with latest megamax orders

Energy News Beat

A new high has been reached for containership prices.

Splash reported last month on Taiwan’s Evergreen contracting for eleven LNG dual-fuel 24,000 teu ships, the orders split between South Korea and China with Hanwha Ocean taking six vessels and CSSC Guangzhou Shipyard International (GSI) the remainder.

$267.3m per megamax is $103m more than similar ships ordered in 2020

Hanwha Ocean reported to the Korea Stock Exchange that the six ships were costing $267.3m each, something analysts at Alphaliner believe is the highest price ever agreed upon for the construction of a container vessel. On a per-teu basis, it works out at $11,138 per slot.

Newbuild prices have soared in the 2020s, one of the most profitable decades for shipping. As an example, Evergreen’s latest deal works out at more than $100m more per ship compared to the $164m price that Hapag-Lloyd agreed to pay for a series of six – later twelve- Hanwha-built LNG-powered megamaxes contracted in late 2020.

Newbuild prices remain elevated, however, according to Clarksons Research they have eased recently across sectors. Clarksons’ newbuilding price index has ticked down by 1% since the start of the year.

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Tentative Black Sea ceasefire on the table

Energy News Beat

A tentative naval ceasefire has been reached in the Black Sea after more than three years of war between Ukraine and Russia, however, many issues need to be ironed out before the two sides down weapons at sea.

The US, which has been brokering the deal, said yesterday it would also extend to a ban on strikes against energy infrastructure.

The White House said agreements “to ensure safe navigation” in the Black Sea has been agreed as well as deal to prevent the use of commercial shipping for military purposes.

The US claimed it would help restore Russia’s access to the world market for agricultural and fertilizer exports, lower maritime insurance costs, and enhance access to ports and payment systems for such transactions, something that Ukraine and its allies are likely to question.

The Kremlin confirmed the agreement on safe navigation in the Black Sea in a statement late Tuesday but said it was dependent on sanction relief for banks and companies involved in agricultural exports.

Deborah Layde, chief executive of The Seafarers’ Charity, commented yesterday: “From the beginning of the war in Ukraine, seafarers from all over the world have paid a heavy price, with many trapped on their ships in Black Sea ports. Just in the last few weeks, multiple seafarers have been killed by shelling. Today’s words must be accompanied by meaningful action to ensure that safe passage for seafarers is strictly maintained.

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Caravel Group buys into Pacific Basin

Energy News Beat

Dry CargoGreater China

Hong Kong conglomerate Caravel Group has raided the local stock market to acquire a significant stake in fellow dry bulk giant Pacific Basin Shipping.

Caravel Maritime Ventures, part of the Banga family’s Caravel Group, has picked up 388.5m shares, corresponding to a 7.53% stake in the Martin Fruergaard-led handysize and supramax specialist.

Pacific Basin boasts a fleet of more than 270 ships, of which 110 are currently listed as owned. Late last year, the company made a surprising newbuilding move after many years with four methanol dual-fuel ultramaxes booked at Japan’s Nihon Shipyard for delivery between 2028 and 2029.

The company has since last May focused on its own buyback programme citing the continued share discount to the current market value of its assets, cancelling about 138m shares for $40m and has another $40m lined up for buybacks this year. The shares currently trade at about $HK1.74.

“Repurchasing our own shares at a discount to the current market value of our assets is beneficial to our shareholders – more so than acquiring second-hand vessels at prevailing prices,” Pacific Basin chief executive Fruergaard said in the company’s annual report release earlier this month.

The Carvel Group has one of the world’s largest third-party shipmanagers, Fleet Management, under its wing, but it also owns a dry bulk business focused on the supramax and kamsarmax segments.

Earlier this month, the group bought India’s International Maritime Institute (IMI), which specialises in pre-sea training for cadets, for an undisclosed sum.

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