NewOcean Energy Prepares For Scaled-Down Bunkering Business After 2020 Loss
by Ship & Bunker News Team
Thursday April 1, 2021
Hong Kong-listed
NewOcean Energy has revealed plans for a scaled-down bunkering business, including potentially selling off parts of its barge fleet, after posting a loss for
2020. HK$2.4 billion last year, down from a
HK$607.1 million profit in 2019, in an annual report published on Wednesday. The firm had issued a profit warning earlier in the week, citing weakness in the bunker market. NewOcean is now preparing for a much smaller role in the bunker market. Being all set for the significant scale-down of our oil products business, we are committed to focusing not only on the sales of products with high gross profits, but also on lowering our costs, the company said.
CRYO Shipping Sets up Southeast Asian LNG Bunker Operation
by Ship & Bunker News Team
Thursday April 1, 2021 LNG bunker supplier
Southeast Asia. Altera Infrastructure s shuttle tanker the
Altera Wind with about
Singapore Strait, the firm said in an emailed statement. We see a significant increase of interest in LNG as fuel for deep sea shipping, and it s of strategic importance to us to provide LNG bunker services within the major trade lanes to support deep sea shipping s energy transition from dirty oil to clean gas,
Nicholai Olsen, managing director of CRYO Shipping, said in the statement. The bunker service is based on our experience and understanding of how dynamic, unique and operationally demanding the shipping industry is.
Georgia Ports Authority Plans 20% Expansion of Savannah Container Capacity
by Ship & Bunker News Team
Thursday April 1, 2021 The Savannah by
Garden City Terminal s berth capacity to 6 million TEU/year by
June 2023, it said in a statement on its website this week. Right now, we are moving container volumes that we did not expect to see for another four years,
Griff Lynch, executive director of the Georgia Ports Authority, said in the statement. Our employees are working very hard to ensure we continue to provide our customers with world-class service. Additionally, we are expediting capacity projects that will increase the speed and fluidity of cargo handling at the Port of Savannah.
Japan to Establish Investment Guidelines for GHG Heavy Industries
by Ship & Bunker News Team
Thursday April 1, 2021 Japan: access to finance. File Image / Pixabay. Japan is developing domestic guidelines to create the right environment for local financial entities funding energy transition projects in the run up to 2050. Two government agencies, the trade and environment ministries, are drafting the guidelines which should be rready for official release in early next month, price reporting agency Argus Media reports. Working groups will look at developing a more detailed transitional roadmap for each industry emitting heavy greenhouse gases, including steel, chemical, power, gas and shipping.