Transition to Insolvency: Europe’s Largest Wind Farm Facing Bankruptcy

Energy News Beat

The world’s greatest Ponzi scheme is imploding. The wind and solar scam was never going to last. Built on lies and running on subsidies the so-called wind and solar ‘industries’ are being belted from all sides. Rising costs, shrinking subsidies and hostile communities have taken the gloss from the greatest economic and environmental fraud of all time.

This little example provided by Paul Homewood is only the latest in a string of financial collapses, scrap projects and plummeting share prices being experienced by those who contend that the transition to an all-wind and sun-powered future is ‘inevitable’.

What is different about this one is that the PPA forces the wind farm to buy power on the spot market, when the wind does not provide enough:

In other words, the wind farm is obliged to pay the costs of its own intermittency. And, of course, when wind power is low, spot market prices rise.

This highlights the worthlessness of wind power, as when there is plenty of wind, the value of the product is low.

In this country it is energy consumers who have to pay the costs of intermittency, something which needs changing.

Not a Lot of People Know That

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US says Russia rejected ‘substantial’ proposal to free two jailed Americans

Energy News Beat

The United States has said Moscow rejected what it said was a “substantial” proposal to secure the freedom of Wall Street Journal correspondent Evan Gershkovich and former US Marine Paul Whelan who are jailed in Russia over alleged spying.

“We have made a number of proposals, including a substantial one in recent weeks,” US State Department spokesman Matthew Miller told reporters on Tuesday.

“That proposal was rejected by Russia,” he said, without going into further detail on the offer.

Miller said that Secretary of State Antony Blinken and President Joe Biden would keep trying to find a way to free the pair, considered “wrongfully detained” by the State Department.

The designation means the US considers the charges against the two men to be bogus and politically motivated.

“They never should have been arrested in the first place. They should be released immediately,” Miller said.

“There is no prior higher priority for the secretary of state. There is no higher priority for the president.”

The United States, despite a sharp deterioration of ties since Russia began its full-scale invasion of Ukraine in February 2022, arranged a prisoner swap with Moscow a year ago that brought home basketball star Brittney Griner in exchange for jailed Russian arms dealer Viktor Bout.

Kremlin spokesman Dmitry Peskov said in July that it was in contact with the US about prisoner swaps but that such discussions needed to take place in “complete silence”.

Gershkovich was arrested during a reporting trip at the end of March and accused of spying, charges he and the Wall Street Journal deny.

The 32-year-old has been held in custody pending trial and a Moscow court last week extended his detention until January. He faces as long as 20 years in prison if found guilty.

Gershkovich’s sister in October urged the Biden administration to remain focused on trying to bring him home from a Russian prison, and expressed concern that the Middle East crisis may distract Washington from hostage diplomacy in other countries.

Whelan worked in security for a US vehicle parts company when he was arrested in Moscow in 2018. The former Marine was convicted of espionage in 2020 and jailed for 16 years. Whelan says the evidence against him was falsified and he and the US government have denied he is a spy.

Whelan’s family said last week that he had been assaulted in prison.

The 53-year-old was punched in the face and forced to defend himself at a sewing workshop in a high-security penal colony in Russia’s Mordovia region southeast of Moscow, his brother said in a statement.

The Mordovia regional prison service confirmed the attack to the Interfax news agency and that guards had intervened. Both men were taken to the medical bay with Whelan suffering an abrasion beneath one of his eyes.

Washington says ‘no higher priority’ than effort to secure release from Russia of Evan Gershkovich and Paul Whelan.

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Israeli captives’ families angry after meeting with Netanyahu

Energy News Beat

Israeli Prime Minister Benjamin Netanyahu has met families of captives freed from Gaza in an encounter described as tense by the Israeli media.

Tuesday’s meeting came amid intensified fighting in the besieged Gaza Strip following the end of a seven-day pause in hostilities that enabled the return of more than 100 captives, who had been taken by the Palestinian armed group Hamas during its October 7 attack on Israel, in exchange for some 240 Palestinians held in Israeli jails.

Israel said on Tuesday that some 138 captives remained in the territory.

Several of the relatives who attended the meeting left bitterly critical of the government.

Dani Miran, whose son Omri was among those taken captive, said he was so disgusted he had walked out in the middle of the meeting.

“I won’t go into the details of what was discussed but this entire performance was ugly, insulting, messy,” he told Israel’s Channel 13, saying the government had made a “farce” out of the issue.

“They say, ‘We’ve done this, we’ve done that’. [Hamas’ Gaza leader Yahya] Sinwar is the one who returned our people, not them. It angers me that they say that they dictated things. They hadn’t dictated a single move.”

Israel says several women and children remain in Hamas’s hands, while families with adult male relatives in captivity have been calling for them not to be forgotten.

“It was a very turbulent meeting, many people yelling,” said Jennifer Master, whose partner Andrey is still being held by Hamas.

“We are all trying to make sure our loved ones get home. There are those who want the women who are left or the children who are left, and those who say we want the men,” Master told Israel’s Channel 12.

Family members called for immediate action to secure the release of the remaining captives.

“I asked Netanyahu if the primary objective of the war was to bring back the hostages,” Meirav Leshem Gonen, mother of 23-year-old hostage Romi Gonen, told Israeli television after the meeting.

“He answered me directly: ‘Yes’,” she said. “I am happy with his answer, but only reality counts.”

Leshem Gonen said she was concerned that captives were being “severely mistreated — women, young girls, and men too”.

Speaking at a news conference afterwards, Netanyahu said he had heard stories that “broke my heart” and included thirst and hunger, as well as physical and mental abuse.

“I heard and you also heard, about sexual assault and cases of brutal rape unlike anything,” he added.

Israel has said it is investigating several cases of alleged sexual assault and rape committed by Hamas fighters during their October 7 attack, in which 1,200 people were killed.

Witnesses and medical experts have said some fighters committed rape and other attacks before killing the victims, although the extent of the sexual violence remains unknown. Hamas has denied carrying out such assaults.

Israel began an intense bombardment of Gaza in the wake of Hamas’s attack, saying it wanted to destroy the group and free the captives. The attacks have killed more than 16,200 people in Gaza, according to Hamas, which has controlled the territory since 2006.

Some families, meanwhile, appeared to be losing patience with Netanyahu’s government.

“We have faith in our children, that they are strong and they will overcome this, and we want our government and the military to do what they do as fast as they can — as fast as possible — to start the negotiations,” said Idit Ohel, the mother of 21-year-old hostage Alon, during an online panel organised by the Hostages and Missing Families Forum.

“Sixty days is too much,” she said, her voice rising. “I don’t want 61 days, I don’t want 65 days. I want them back now.”

Israel withdrew its negotiators from Qatar on December 2, blaming an “impasse” after failing to make progress in talks aimed at securing a renewed pause in hostilities.

Afterwards, Hamas said it would not release any more captives until the war in Gaza was ended.

Some accuse government of a “farce” as they demand more action to secure the release of the 138 captives still in Gaza.

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‘Anti-Zionism is antisemitism,’ US House asserts in ‘dangerous’ resolution

Energy News Beat

Washington, DC – Palestinian rights advocates are denouncing a congressional resolution that equates anti-Zionism with anti-Semitism, calling it a “dangerous” measure that aims to curb free speech and distract from the war in Gaza.

The Republican-controlled House of Representatives passed the measure on Tuesday in a 311-14 vote, with 92 Democratic members abstaining by voting “present”.

The symbolic resolution was framed as an effort to reject the “drastic rise of anti-Semitism in the United States and around the world”.

But it contained language saying that the House “clearly and firmly states that anti-Zionism is antisemitism”. It also condemned the slogan “From the River to the Sea”, which rights advocates understand to be an aspirational call for equality in historic Palestine.

Instead, the resolution described it as a “rallying cry for the eradication of the State of Israel and the Jewish people”. It also characterised demonstrators who gathered in Washington, DC, last month to demand a ceasefire as “rioters”. They “spewed hateful and vile language amplifying antisemitic themes”, the resolution alleges.

Husam Marajda, an organiser with the US Palestinian Community Network (USPCN), said the resolution is an effort to “cancel” Palestinian rights advocates by accusing them of bigotry and labelling their criticism of Israeli policies as hate speech.

“It’s super dangerous. It sets a really, really bad precedent. It’s aiming to criminalise our liberation struggle and our call for justice and peace and equality,” Marajda told Al Jazeera.

What is Zionism?

Zionism is a nationalist ideology that helped establish the state of Israel in 1948. It contends that the Jewish people have a right to self-determination in historic Palestine, which Zionists view as their ancestral homeland.

The rise of Zionism in the late 1800s was partly in response to anti-Semitism in Europe.

But many Palestinians reject Zionism as a driver of the settler colonialism that dispossessed them during the founding of Israel. Israel’s establishment coincided with the displacement of hundreds of thousands of Palestinians who were forcibly driven from their homes in what is known as the Nakba, the Arabic word for “catastrophe”.

While Palestinians view themselves as the native people of the land, Zionists say Jewish people have historic and biblical claims to what is today Israel.

Some hardline Zionists, including members of Israeli Prime Minister Benjamin Netanyahu’s government, argue that the present-day Palestinian territories — the West Bank and Gaza — also belong to Israel.

At a United Nations General Assembly speech in November, Netanyahu held up a map of Israel that showed the country stretching from the Jordan River to the Mediterranean Sea, encompassing the West Bank, Gaza and Syria’s Golan Heights.

Some Palestinians also blame Zionism for Israeli abuses against them, which amount to apartheid, according to leading human rights groups like Amnesty International.

In the US, Palestinian rights supporters have long rejected conflations of Zionism with Judaism, noting that many Jewish Americans identify as anti-Zionist.

“Opposing the policies of the government of Israel and Netanyahu’s extremism is not antisemitic. Speaking up for human rights and a ceasefire to save lives should never be condemned,” Palestinian American Congresswoman Rashida Tlaib said in a social media post on Tuesday, explaining her vote against the resolution.

‘Extremely dangerous’

Marajda stressed that Palestinians have a right to oppose Zionism, a position he said has nothing to do with prejudice.

“This resolution is saying that if you’re critical of this Israeli government, essentially you hate Jewish people,” he said. “I didn’t choose — the Palestinians didn’t choose — their occupiers.”

The resolution is one of several pro-Israel motions approved by Congress since October 7. Most US legislators have expressed unwavering support for Israel amid its offensive in Gaza, which has killed more than 16,000 Palestinians.

Yasmine Taeb, the legislative and political director at MPower Change, a Muslim American advocacy group, called the resolution “extremely dangerous”.

“It unequivocally equates any criticism of the Israeli government with anti-Semitism. Essentially it smears millions and millions of people demonstrating globally in support of a lasting ceasefire, including Jewish-American organisations,” Taeb told Al Jazeera.

The advocacy group Jewish Voice for Peace (JVP) was also quick to denounce the congressional measure.

“Falsely stating that anti-Zionism is antisemitism conflates all Jews with the Israeli state and endangers our communities. It fuels deadly violence and censorship campaigns against Palestinians,” JVP Action said in a social media post.

“We are proud anti-Zionists Jews. We refuse to pit communities against one another.”

All House Republicans but one — Congressman Thomas Massie — voted in favour of the resolution. But Democrats were split on the measure: 13 voted against it and 95 for it, on top of the 92 who abstained with a “present” vote.

Jerrold Nadler, a key Jewish House Democrat, had decried the resolution on Monday, noting that some Jewish communities oppose Zionism for religious reasons and should not be branded as anti-Semitic.

“While most anti-Zionism is indeed anti-Semitic, the authors, if they were at all familiar with Jewish history and culture, should know about Jewish anti-Zionism that was, and is, expressly not anti-Semitic,” he said.

Democrats divided

Nadler accused Republicans of using support for Israel to advance “partisan wedging at the expense of the Jewish community”. Still, he did not vote against the resolution on Tuesday. He opted for “present”.

The vote highlighted the divisions among the Democrats over Israel’s military campaign in Gaza. While the party’s progressive wing has pressed for a ceasefire, President Joe Biden and the majority of congressional Democrats have avoided such calls.

But that could signal a disconnect from the party base. A Reuters/Ipsos poll in November indicated 62 percent of Democratic voters considered Israel’s response “excessive”. Two in three survey respondents backed a ceasefire.

Republicans, meanwhile, have led motions that critics say are designed to bring the Democratic schism to the fore. Last month, for instance, they moved to censure Congresswoman Tlaib, the only Palestinian in the House, over her comments on the Gaza war.

Conservatives have accused Democrats who vote against such measures of being anti-Israel, if not anti-Semitic.

That creates a political dilemma for Democratic lawmakers. If they support the bills, they risk upsetting large segments of their base, but if they oppose them, they open themselves to Republican attacks.

Taeb said the lawmakers who voted “present” did not want to go on the record as equating anti-Semitism with anti-Zionism, but at the same time, they wanted to be seen as countering anti-Semitism.

“It’s just politics,” she told Al Jazeera.

Tuesday’s resolution was co-sponsored by Congressman Max Miller, who has faced outrage in recent weeks for saying, “We’re going to turn [Palestine] into a parking lot.”

Taeb said the fact that lawmakers who have promoted anti-Palestinian hate are championing such resolutions shows that Tuesday’s measure is not about combating prejudice.

“The intent of these members is to smear and silence peace activists calling to end the massacre of Palestinian children and families.”

Palestinian rights advocates denounce a Republican-led measure as push to smear Israel’s critics amid the war in Gaza.

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Russia-Ukraine war: List of key events, day 651

Energy News Beat

Here is the situation on Wednesday, December 6, 2023.

Fighting

Russia targeted an aid centre, a medical centre and residential buildings in Ukraine’s southern and eastern regions, killing three people and injuring at least 11, officials said. The International Rescue Committee confirmed an overnight missile attack hit its humanitarian centre, “I am Kherson”, destroying stockpiles of aid.
Ukraine’s military said it shot down 10 out of 17 attack drones launched overnight by Russia. The governor of Ukraine’s western Lviv region said three drones had struck an unspecified infrastructure target, but there was minimal damage. In the Kharkiv region in the east, authorities said drones hit private homes and residential buildings in at least two different settlements.
Russia’s defence ministry said its air defence systems destroyed or intercepted a total of 41 Ukraine-launched drones. Twenty-six were destroyed over Russian territory, and 15 over the Sea of Azov and the Crimean Peninsula, the ministry said in a statement. It did not say whether there was any damage.
Ukraine said the drones hit several “important military facilities in Crimea” including radar systems and an anti-aircraft missile control system. A Ukrainian defence source with knowledge of the operations of the SBU military intelligence services told the AFP news agency the attacks were a “result of a special SBU operation”. Russia annexed Crimea from Ukraine in 2014.
Russia confirmed that Major-General Vladimir Zavadsky, the deputy commander of Russia’s 14th Army Corps, had been killed “at a combat post” in Ukraine.

Politics and diplomacy

Ukrainian President Volodymyr Zelenskyy cancelled plans for a video-link appeal for new aid to lawmakers in the United States as some Republicans attempt to link such support to US immigration policy.
Zelenskyy’s chief of staff, Andriy Yermak, told a US think tank that the postponement of US assistance for Kyiv would create a “big risk” of Ukraine losing the war with Russia.
Six Ukrainian children will be returned to their immediate families in Ukraine from Russia under a deal brokered by Qatar, and are on their way home via Moscow. Kyiv has accused Russia of taking about 20,000 Ukrainian children to Russia or Russian-occupied territory without the consent of their families or guardians.
The US, meanwhile, announced sanctions against Dzmitry Shautsou, the head of the Belarus Red Cross, accusing him of being complicit in the deportation of Ukrainian children to Russia. The International Federation of Red Cross and Red Crescent Societies has suspended the Belarus Red Cross for failing to sack Shautsou.
Russia rejected a “substantial” proposal for the release of businessman and former Marine Paul Whelan as well as journalist Evan Gershkovich, according to the US State Department spokesperson Matthew Miller. Miller declined to go into detail on the proposal, which he said had been offered in “recent weeks”. Whelan is serving a 16-year jail term for spying, while Wall Street Journal reporter Gershkovich was arrested in March and accused of espionage. Both men deny the charges.
Dutch Foreign Minister Hanke Bruins Slot sought to reassure Ukraine of continued support from the Netherlands during an unannounced trip to Kyiv following the election victory of Geert Wilders, whose far-right party wants to stop weapons deliveries to Ukraine. “Be assured of our support. Your fight is our fight. Your security is our security,” the foreign minister said during a joint press conference with her Ukrainian counterpart Dmytro Kuleba.
Washington imposed new Russia-related sanctions, targeting a defence procurement network consisting of nine entities and five people based in Russia, Belgium, Cyprus, Sweden, Hong Kong and the Netherlands.

Weapons

Ukraine said it was investigating alleged corruption in arms procurement but said there was no “misuse” of the Western weapons sent to the country to fight the Russian invasion. “There are several proceedings related to arms procurement,” said Oleksandr Klymenko, the head of the anticorruption prosecutor’s office. He added that these included contracts amounting “from 10 to 100 millions of euros”, but said he could not disclose details.

As the war enters its 651st day, these are the main developments.

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US announces visa bans after warning Israel on West Bank settler violence

Energy News Beat

The US Department of State has said that it will impose visa restrictions on Israeli settlers involved in undermining peace, security or stability in the occupied West Bank.

Secretary of State Antony Blinken announced the move on Tuesday, one day after the State Department said that Israel has not taken sufficient steps to address settler attacks that have driven many Palestinians off their land.

“Today, the State Department is implementing a new visa restriction policy targeting individuals believed to have been involved in undermining peace, security or stability in the West Bank, including through committing acts of violence or taking other actions that unduly restrict civilians’ access to essential services and basic necessities,” Blinken said.

President Joe Biden and other senior US officials have warned repeatedly that Israel must act to stop violence by Israeli settlers against Palestinians in the West Bank, which has increased since the October 7 Hamas attack on Israel.

“We have underscored to the Israeli government the need to do more to hold accountable extremist settlers who have committed violent attacks against Palestinians in the West Bank,” Blinken said.

Blinken did not announce individual visa bans, but department spokesman Matthew Miller said the bans would be implemented starting Tuesday and would cover “dozens” of settlers and their families, with more to come. He did not give a number and didn’t identify any of those targeted due to confidentiality reasons.

Israeli settler violence has long targeted Palestinian communities in the West Bank, and the attacks have surged over the last year, as Israel’s far-right government, which itself includes ultranationalist settlers, signals support.

Settler attacks have escalated further amid the continuing war in Gaza between Israel and the Palestinian armed group Hamas, which launched a deadly attack on southern Israel on October 7 that killed approximately 1,200 people and took roughly 240 others hostage.

After the attack, Israel launched a devastating assault on Gaza which has killed more than 16,200 people and displaced more than 1.5 million others, according to Palestinian officials.

Since the October 7 attack, Israeli settlers have killed at least nine Palestinians in the West Bank, three times as many as in all of 2022, and attacks on Palestinian villages and farmers have become commonplace.

While Palestinian attacks on Israeli settlers and soldiers in the West Bank typically meet harsh reprisals by Israeli forces, accountability for attacks by Israeli settlers on Palestinians, which often take place under the gaze of Israeli soldiers, is exceedingly rare.

Palestinians have described settler violence as one part of a larger Israeli effort to force them from their land.

In 2018, Israel passed a controversial bill known as the nation-state law that, among other things, called Jewish settlement efforts a “national value” that the state would “encourage and promote”.

US has called on Israel to act against violent settler groups in the occupied West Bank.

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Searching for survivors after Israeli attack on central Gaza building

Energy News Beat

Deir al-Balah, Gaza Strip – Israeli forces continue to pound the Gaza Strip on the 60th day of its war on the besieged coastal enclave.

The sky in the town of Deir al-Balah in central Gaza is grey with the aftermath of relentless Israeli ground attacks and aerial bombardment.

A fire breaks out in the middle of the street, littered with rubble. But that does not deter dozens of people from gathering at the site of a bombed building.

The crowd of men are attempting to rescue the survivors and retrieve the bodies of those killed in the three-storey Abu Musbih building bombed by Israel.

“We need stretchers,” shouts a man. “Someone, find us stretchers.”

Near him lies the lifeless body of a man, almost entirely covered by debris. He is pulled out by three men and taken on blankets being used as stretchers.

The attack on Tuesday afternoon struck the building when about 150 people were inside, most of them displaced families from other parts of Gaza.

According to Gaza’s health ministry, 45 people have been killed and at least 50 others wounded. Some of the dead remain buried under the rubble.

The injured were transported in civilian cars, tuk-tuks and ambulances to the Al-Aqsa Martyrs Hospital.

Meanwhile, a representative of the World Health Organization in the Palestinian Territories said the situation in Gaza is “getting worse every hour” as Israel intensifies its bombing of the enclave’s southern areas.

“I want to make clear that we are facing a growing humanitarian catastrophe,” Rik Peeperkorn said.

More than 16,200 Palestinians have been killed in Gaza by Israeli forces since October 7 and about 42,000 others wounded.

The sky above Deir al-Balah in central Gaza Strip is grey with the aftermath of relentless Israeli attacks.

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How does Israel compare to failed states?

Energy News Beat

Israel has been in a state of near-perpetual war for decades, receives billions of dollars a year in aid and weapons, and has consistently broken international law by expanding its occupation and settlements.

Governments and international human rights organisations have called for war crimes investigations into Israel’s military offensive in Gaza.

Yet, for leader Benjamin Netanyahu, it is “the only democracy in the Middle East”, a view often repeated by supporters.

Critics say Israel is a political entity that can only survive with repression, the denial of rights, and violence.

So is Israel a normal state? Could it be defined as a fragile state? Or does it have the characteristics of a failed state?

Presenter: Cyril Vanier

Guests:

Ali Abunimah – Co-founder of the Electronic Intifada, an independent online news publication focusing on Palestine

Paul Turner – President and executive director of the Fund For Peace, a non-profit research organisation that produces the annual Fragile States Index

Ilan Pappe – Israeli historian and author of, The Idea of Israel: A History of Power and Knowledge

Critics describe Israel as a political entity that can only survive with repression and state-sanctioned violence.

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WFP suspends food distribution in Houthi-controlled areas of Yemen

Energy News Beat

The World Food Programme (WFP) says it is suspending food distribution in Houthi-controlled areas of northern Yemen due to a dip in funding and disagreements with the group over how to focus on the poorest there.

The WFP announced the decision on Tuesday, saying it came after consultations with donors and more than a year of negotiations which failed to come to an agreement on reducing the number of people in need of aid to 6.5 million from 9.5 million.

The poorest country in the Arabian Peninsula has faced one of the world’s worst humanitarian crises since the outbreak of the Yemen war between the Saudi-backed government and the Iran-aligned Houthi rebels, who seized the capital Sanaa and large swaths of territory in 2014.

Yemenis present documents to receive food rations by a local charity in Sanaa [File: Hani Mohammed/AP]

Food stocks in Houthi-controlled areas “are now almost completely depleted and resuming food assistance, even with an immediate agreement, could take up to as long as four months due to the disruption of the supply chain”, the United Nations agency said in a statement.

It said the WFP would nonetheless maintain “its resilience and livelihoods, nutrition, and school feeding programmes … for as long as the agency has sufficient funding and the cooperation of the authorities” in Sanaa.

Food distribution in government-controlled areas of Yemen will continue, targeting “the most vulnerable families, aligning with resource adjustments announced last August,” the statement said.

Houthi officials did not issue an immediate comment on the agency’s decision.

Since 2014, the war in the country of 30 million people has led directly or indirectly to hundreds of thousands of deaths and has displaced millions.

A fragile calm has prevailed since a UN-negotiated ceasefire in April 2022, but the population suffers from reduced humanitarian aid, upon which it depends heavily.

Last year, the WFP reduced rations in the country due to depleted funding caused by global inflation, which rose after Russia’s invasion of Ukraine.

UN agency pauses general food distribution in north Yemen due to limited funding and disagreements with the group.

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Seaspan, Hyundai Glovis order LNG-powered PCTCs in China

Energy News Beat

Seaspan and Hyundai Glovis joined forces to order six large LNG dual-fuel pure car and truck carriers from China’s Shanghai Waigaoqiao Shipbuilding (SWS).

The deal for the PCTCs with a capacity of 10,800 ceu also includes an option for four additional vessels, according to Seaspan’s parent Atlas.

Besides LNG dual-fuel propulsion, the PCTCs will be ammonia and methanol-ready, it said.

“The vessels will be under long-term time charter upon delivery and, as the largest PCTCs under development to date, will bring unparalleled quality, scale, and flexibility to Glovis,” the statement said.

With this PCTC order, Canada-based Seaspan enters a new segment and adds to its existing 70-vessel newbuild program which includes 25 dual-fuel LNG containerships.

Seaspan did not provide the price tag of the deal.

CSSC’s SWS said in a separate statement that the vessels will have 14 car decks and that the yard now has in total 16 PCTCs on order.

Image: Atlas

South Korea’s Hyundai Glovis recently revealed plans to order 12 LNG dual-fuel car carriers worth about $1.84 billion.

The South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group said its board approved the investment on October 26.

The firm said at the time that it expects to take delivery of the final vessel in September 2027.

Hyundai Glovis had 116 vessels in its fleet as of the end of the last year, including over 80 PCTCs, its website shows.

Last year, Hyundai Glovis also entered the LNG transportation business after signing a 10-year charter deal for one newbuild LNG carrier with Australia’s Woodside.

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