Russia-China Natural Gas Deal to Set LNG Price Floor, BofA Says

 

Russia’s deal to sell natural gas toChina after a decade of talks will set a floor for prices of the liquefied fuel as the Asian nation is set to become the world’s leading consumer, according to Bank of America Corp.

The 30-year accord for 38 billion cubic meters a year (3.8 billion cubic feet a day) of supplies from 2018 by pipeline from eastern Siberia was probably reached at a price of $10.50 to $11 per million British thermal units, the bank said in a report e-mailed today. China, which consumes about half of the world’s coal, copper and iron ore and 4 percent of its gas, is set to become the biggest gas user by 2035.

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Tanker Hauling Disputed Kurd Crude U-Turns in Atlantic

 

Photographer: Ali Al-Saadi /AFP/Getty Images

A security guard is seen at the Tawke oil refinery near the village of Zacho, in the semi-autonomous Iraqi region of Kurdistan. The Kurdish Regional Government estimates its region has about 45 billion barrels of crude reserves. Iraq itself has about 150 billion barrels. Close

A security guard is seen at the Tawke oil refinery near the village of Zacho, in the... Read More

 
 

A security guard is seen at the Tawke oil refinery near the village of Zacho, in the semi-autonomous Iraqi region of Kurdistan. The Kurdish Regional Government estimates its region has about 45 billion barrels of crude reserves. Iraq itself has about 150 billion barrels.

 

An oil

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First Southeast Asian Vessel to Get Fuel-Saving Propeller-Rudder System

 

Thursday May 29, 2014

SuperStar Virgo could see a 4,000-tonne annual reduction in CO2 emissions

A Star Cruises vessel will be the first in Southeast Asia to use Rolls-Royce's Promas Lite propeller and rudder system to increase its fuel efficiency, Rolls-Royce said.

The system was said to reduce fuel use by 5 to 15 percent, which would represent an estimated £800,000 ($1.3 million) in fuel savings and 4,000 tonne reduction in carbon dioxide (CO2) emissions for the cruise vessel, SuperStar Virgo.

The Norwegian Spirit, operated by Star Cruises subsidiary Norwegian Cruise Line had a Promas Lite system installed in 2011.

"We highly appreciate the trust given to us by Star Cruises through this second order," said Andrew Marsh, Rolls-Royce's president for services.

"As Asia Pacific's leading cruise operator, they recognise that using the

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LNG as a fuel, a commercially attractive option for bulk carriers?

05 May 14 Safety4Sea

 

The milestone of 100 confirmed LNG projects worldwide has been recently passed and it is true that we are seeing many more developments in LNG ship fuel industry. Currently, there are three key stakeholders regulating the future development of LNG; charterers, LNG suppliers and shipowners, each and one of them having their own objectives and challenges moving ahead.

 

 

Until now, there were two players dominating the discussions around the future of the LNG industry; LNG suppliers and shipowners facing the well-known ''chicken- egg problem''. On the one hand, shipowners are talking about not enough supply in order to justify the investments for LNG fuelled ships and on the other hand, suppliers claim that there are not enough LNG

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A quarter of Qld coal produced in the red - QRC

 

Saturday, 17 May 2014 | 00:00

The Queensland Resources Council (QRC) on Friday revealed that nearly 25% of the coal produced in Queensland was being done so at a loss.
In a submission to the state government, ahead of the budget, QRC noted that this loss occurred despite vigorous cost cutting across the industry.
“Some of these mines are only staying open because production is a more palatable option than closing operations locked into transport costs levied on a take or pay basis,” said QRC CEO Michael Roche.
“However, with one out of every 10 t of coal currently produced in Queensland in the red to the tune of more than A$14, some mines are at extreme risk of shutdown.”
Roche warned that if this

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