Friday, January 18, 2019

South Korea News

LNG REPORT: LNG Bunkering Vessels Rise to Nine, 30 More to Come

Image: SEA\LNG

The liquefied natural gas (LNG) bunkering infrastructure is expanding globally and there are increasing numbers of LNG-bunker vessels which are encouraging other operators to adopt LNG.According to SEA\LNG,  the…

CNOOC Storing LNG Offshore

© Juan Calcedo / Adobe Stock

China's state-owned CNOOC is temporarily storing liquefied natural gas (LNG) in a tanker off South Korea as a warmer than usual winter cuts expected spot demand for the fuel, industry sources said on Wednesday.China…

Norway Supreme Court Hears Snow Crab Case with Implication for Oil

© Andrey Cherlat / Adobe Stock

Norway's Supreme Court began hearing arguments on Tuesday on whether EU ships can fish for snow crab off Arctic islands north of Norway without permission from Oslo, a case that could decide who has the right…

K2 Management Opens Beijing Office

Image: K2 Management

Offshore wind and sustainable energy consultancy K2 Management  has opened an office in Beijing to support China’s wind and solar market.Active in Asia since 2010, K2 Management has been working in China on several…

Great Ships 2018: BP's British Partner

Photos: BP Shipping

BP Shipping took delivery of British Partner, the first of a half dozen new 173,400 cu. m. capacity liquefied natural gas (LNG) carriers to be delivered through 2018 and 2019 from the DSME shipyard in South Korea.

LNG Imports into Northeast Asia at Record High

© Altin Osmanaj / Adobe Stock

Shipments of liquefied natural gas (LNG) into Northeast Asia have risen to a record in December, mainly driven by China's continued gasification push, and as the region faces colder-than-usual temperatures this week.LNG imports into China…

Kairos Begins Operations in Northwest Europe

Photo: Polish LNG Platform

The world’s largest LNG bunker supply vessel “Kairos” has started operations in Northwest Europe on December 11th, 2018, said a press note from the Polish LNG Platform.Chartered by Blue LNG, a joint venture of…

Trafigura Boosts LNG Volumes by 22%

 File Photo: Singapore LNG Corporation (SLNG)

Geneva based commodity trading company Trafigura increased its liquefied natural gas (LNG) traded volumes by 22% to 9.9 million mt in its financial year ending September 30 2018, driven by sales to China and South Korea…

Höegh LNG Takes Delivery of Ninth FSRU

Image: Höegh LNG

Bermuda-based  floating liquefied natural gas (LNG) company Höegh LNG Holdings took delivery of Höegh Gannet, its ninth floating storage and regasification unit (FSRU).Höegh Gannet has regasification capacity…

LNG Import Terminal Proposed for Australian port

A typical FSRU (CREDIT Excelerate

A South Korea-based company has proposed building a terminal on Australia's east coast to import liquefied natural gas, the fifth proposal for such a project in the world's No.2 LNG exporter.The proposals have…

LNG Shipping Market in Recovery Stage: Flex LNG

Image: Flex LNG

Norwegian-born billionaire John Fredriksen-owned LNG shipper Flex LNG believes that the LNG market is in the early stages of a multi-year recovery.According to a report by Flex LNG, the market for seaborne transportation…

South Korea Dominates LNG Shipbuilding

Image: Samsung Heavy Industries

The liquefied natural gas (LNG) carrier orders received by South Korean shipbuilders have more than tripled from last year.According to Reuters, the three South Korean yards - Daewoo Shipbuilding & Marine Engineering (DSME)…

Oil Markets Face Unprecedented Uncertainty

Fatih Birol (Photo: IEA)

Oil markets are entering an unprecedented period of uncertainty due to geopolitical instability and a fragile global economy, the head of the International Energy Agency said on Tuesday.Concerned about an emerging…

Poland Sees First Nuclear Power After 2030

© Martin Vonka / Adobe Stock

Poland expects its first nuclear power plant to start operating after 2030 as the country aims to cut its use of coal in producing electricity, Deputy Environment Minister Michal Kurtyka said.The east European country…

China LNG Growth Not Slowing -Woodside

(Photo: Woodside Petroleum)

China's appetite for liquefied natural gas (LNG) has not slowed, but its purchases have been spread more evenly, avoiding last year's sudden spike to meet winter demand, Australia's top independent LNG producer…

China Becomes Top Natural Gas Importer

© vladsv / Adobe Stock

China has overtaken Japan to become the world's top importer of natural gas, as Beijing's crackdown on pollution boosts its demand for the more environmentally friendly fuel, while the restart of nuclear reactors…

US Crude Oil Exports to China Stalled

© Igor Groshev / Adobe Stock

The development that saw no U.S. seaborne exports of crude oil to China in August has continued into September, according to BIMCO. This is despite crude oil not being a part of the ‘official trade war’.“The trade war between the U.S.

FSU Delivered to Bahrain LNG

(Photo: Teekay LNG)

Teekay LNG’s first floating storage unit (FSU) has been delivered to charterer Bahrain LNG.The vessel Bahrain Spirit was delivered from the shipyard in South Korea at the end of August, before going on hire on September 19…

Oil Up as U.S. Imposes Sanctions on Iran

© orapin / Adobe Stock

Oil prices recovered some ground on Monday after five days of heavy losses as the United States imposed a range of punitive sanctions on Iran, aiming to curb exports by the Islamic Republic, including its sales…

US Grants Temporary Iran Oil Waivers to Eight Countries

© Igor Groshev / Adobe Stock

The United States has granted exemptions to eight countries allowing them to temporarily continue buying Iranian oil, Secretary of State Mike Pompeo said on Monday, as Washington reimposed sanctions on Iran's banking, energy and shipping industries.Some of the