South Korea's Net Zero Delayed by its LNG Development & Expansion Korea's main LNG imports are from Qatar ,Uzbekistan and Yemen. Globally the liquefied natural gas (LNG) tanker fleet comprised of 734 vessels in the year 2022 including floating storage units. South Korea is the third largest LNG importing country with Korea Gas Corporation (KOGAS)
Basics of Ship Construction The initial stages of construction revolve around fabricating, piece by piece, the structure of the vessel. The panels are created and shaped into blocks which are chunks of the ship’s structure that can weigh dozens of tons. The blocks are then blasted ,painted then processed in the final stages of outfitting
Insurance Costs Surge on Red Sea Routes Isn't it intriguing that only the major container lines and not tankers, LNG and bulk carriers have diverted from the Red Sea routes. A Suezmax tanker with a load of 750,000 barrels priced at $80/bbls is a cargo worth around $60 million. At a war risk insurance of
Shipping & Environmental Air Pollution As maritime transportation plays an important role for world sea trade its contribution to air pollution and climate change cannot be brushed aside. The current population of the world merchant fleet of 100 gross tonnage and above is about 117,000 vessels and the total gross tonnage is 1.36 billion. Annual
LNG Vessels & Mergers The European Commission has blocked the proposed merger between Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries on the premise that a monopoly would be established in the construction of large Liquefied Natural Gas (LNG) vessels which are an integral component of the LNG supply chain and ensure energy security.
Economic & Commercial Maritime Energy Rivalry - Urals Oil Russia’s Urals oil is used as a reference brand for pricing of export oil mixture with the other main reference brand being Brent. It comprises a mix of heavy sour oil of Urals and the Volga Region blended with light oil of Western Siberia Urals crude
China's Quest for Seaports Access & LNG Trade Commerce dependent on seaborne trade: The Chinese Communist Party declared that “maritime power” status was essential to realizing its national ambitions. In 2017 China’s imports of liquefied natural gas (LNG) rose by an unanticipated 46 % reflected in 16 operational LNG terminals importing 71 bcm emphasizing that
Loan for Hambantota Port The Port of Colombo is located near the route between the Strait of Malacca and the Suez Canal, which is one of the busiest shipping lanes in the world. Around 36,000 vessels pass annually on this key corridor between Asia and Europe, including about 4,500 tankers. As the Port of Colombo has been
LNG Gulf of Ob and Logistics The Yamal to Europe natural gas pipeline is a 4,107 km long pipeline designed to connect Russia’s gas in Yamal and Siberia to European natural gas markets. The pipeline's original route is through Belarus. Construction of the pipeline commenced in 1994 with Gazprom being the lead developer and the
Qatar Signs off with Sinopec Credit Offshore Energy As a sequel to inking of QatarEnergy’s contract with Exxon Mobil Corp, TotalEnergies, Eni and ConocoPhillips for investment in its North Field East (NFE) expansion QatarEnergy is signing of with China Petrochemical Corp (Sinopec) making it the largest phase of the nearly $30 billion LNG expansion venture.
