rss icon Subscribe
desktop mobile

Shell Charters LNG-Powered Tanker Fleet

World’s first LNG-powered crude oil tanker (courtesy of SCF Group)

Laxman Pai

Shell Tankers (Singapore) Private Ltd has agreed a long-term deal to charter a fleet of 10 LNG dual-fuel Aframax crude oil tankers from Sinokor Petrochemical Co Ltd, which expects to take delivery of them from Samsung Heavy Industries in South Korea in 2021.

"Shell has agreed to charter a fleet of new liquefied natural gas (LNG)-fueled crude oil and products tankers, as part of its drive to decarbonise shipping," said a press note.

Separately, Shell has agreed long-term charters for four new LNG dual-fuel oil products tankers, from institutional investors advised by J.P. Morgan Asset Management, with delivery of the vessels expected from 2021.

"LNG is already a commercially competitive way to reduce emissions from ships, including those delivering oil to our customers," Mark Quartermain, Shell's Vice President for Crude Trading and Supply, said. "This is an important step in Shell's wider drive to help decarbonise the shipping sector, both as a leading supplier and user of LNG."

The International Maritime Organization has set an ambition to reduce total annual greenhouse gas emissions from shipping by at least 50% by 2050, compared to 2008. Compared to some marine fuels, LNG can cut greenhouse gas emissions from ships by up to 21%, according to a "well-to-wake" emissions study by consultants Thinkstep.

LNG is also virtually free of sulfur and particulates, enabling ship operators to significantly reduce their local emissions.

Grahaeme Henderson, Shell's Vice President of Shipping and Maritime, said: "LNG is a cleaner-burning and lower-carbon fuel, so ship owners are increasingly using it to help achieve their environmental ambitions in a cost-effective way."

Aug 21, 2019

 

Contracts

Hydro Tapped for Next Gen Coastal Cruise Ships

One of Havila Kystruten AS new coastal cruise ship. (Photo: Havila Kystruten AS)

Hydro has been awarded contracts from Tersan Shipyard to deliver aluminum solutions for the upper

Kongsberg to Equip Mystic Cruises Newbuilds

Photo: Kongsberg Maritime

Kongsberg Maritime said it has won contracts worth approximately 300 million NOK ($32 million) to

Norwegian Signs Fleet-wide Antifouling Contract

Seven Seas Voyager has been applied with Nippon Paint Marine’s A-LF-Sea hull coating as part of a fleet-wide agreement with Norwegian Cruise Line Holdings (Norwegian)

Nippon Paint Marine has signed a long-term supply contract with Norwegian Cruise Line Holdings to

Tankers

Citgo: Oil Tanker Caught in Dispute Enters International Waters

© Iza Jaglinska / MarineTraffic.com

U.S. refiner Citgo said the Gerd Knutsen oil tanker, which had been carrying crude claimed by both

Frontline Profitable in Q1 Despite Low Freight Rates -CEO

Oil tanker firm Frontline's earnings are in the black so far in the first quarter despite strong headwinds from low freight rates, it's top executive said on Thursday.

Frontline Warns on Virus Impact after Q4 Profit Surge

© momentscatcher / Adobe Stock

Oil tanker firm Frontline warned on Thursday that the coronavirus outbreak will hurt its results

Maritime Apps