Page 17 - GLNG Week 05 2021

GLNG NEWS IN BRIEF GLNG

exchange-based market share has continued
through the start of 2021, reflecting the
enhanced liquidity and transparency of the
on-screen market.
INTERCONTINENTAL EXCHANGE, February 01,
2021
Euronav acquires two eco-
Suezmax vessels under

construction

Euronav announces it has entered into an
agreement for the acquisition through resale
of two eco-Suezmax newbuilding contracts.
Currently completing construction at the
Daehan Shipyard in South Korea, these
modern vessels are being acquired for an
en-bloc price of USD 113 million. Both vessels
are due for delivery in January 2022.
The vessels are the latest generation of
Suezmax Eco-type tankers. They will be fitted
with Exhaust Gas Scrubber technology and
Ballast Water Treatment systems. The vessels
process uses Air Products’ proprietary CWHE and JKM LNG (Platts) contracts to manage have the structural notation to be LNG Ready.
technology. This DMR process is particularly their risk in record quantities. This is reflected Euronav is working closely with the shipyard
well suited for not only this land-based in the activity set out below: TTF futures hit to also have the structural notation to be
baseload LNG facility in Mexico, but also record open interest (OI) of approximately Ammonia Ready. This provides the option to
for Arctic locations and for offshore, floating 1.9mn contracts on January 27; TTF futures switch to other fuels at a later stage.
LNG applications. The highly efficient process and options hit record daily volume of more Hugo De Stoop, CEO said: “The current
and CWHE equipment design, combined with than 347,500 contracts on January 12; TTF disruptions to the freight market have
fuel-efficient mechanical drivers, significantly futures ADV increased 67% year over year, provided this opportunity and our strong
reduces the greenhouse gas emissions from with OI up 40%; TTF futures and options hit balance sheet allowed us to act quickly on it.
the liquefaction process. record monthly volume of approximately 4mn This is in line with our strategy of acquiring
AIR PRODUCTS, February 02, 2021 contracts in January, beating the previous good assets at attractive points in the cycle.”
record set in January 2020; JKM LNG (Platts) EURONAV, February 03, 2021
hit a combined futures and options OI record
EUROPE of approximately 125,000 contracts on January Titan LNG charters Green
14; JKM Futures hit record monthly volume
ICE announces record of more than 91,500 contracts in January; Zeebrugge long term from
and ADV in JKM LNG (Platts) Futures and
activity in TTF and JKM Options increased 37% with OI up 48% year- NYK
over-year.
natural gas benchmarks are turning to our TTF and JKM benchmarks Titan LNG, a world-leading independent
“Customers from every corner of the world
LNG supplier, has agreed with Japanese
as participants seek to provide much needed transparent price shipping and logistics company, NYK Line
to charter the dedicated LNG bunker vessel,
discovery and enable them to seamlessly
transparent price discovery transfer risk. This was particularly needed Green Zeebrugge. Previously known as the
during the recent turbulence experienced
‘Engie Zeebrugge’, NYK renamed the vessel
to transfer risk across natural gas markets,” said Gordon the ‘Green Zeebrugge’ after becoming the sole
owner of the vessel.
Bennett, managing director, utility markets
Intercontinental Exchange (NYSE:ICE), a at ICE. “The global natural gas market is The agreement sees Titan LNG charter
leading operator of global exchanges and evolving rapidly and our TTF and JKM the Green Zeebrugge for several years from
clearing houses and provider of mortgage contracts are increasingly at the forefront of February 2021. The vessel will be used to
technology, data and listings services, global natural gas price formation.” supply LNG to larger LNG-fueled vessels in
announces record activity across its TTF and An increasing share of total TTF volume the Amsterdam-Rotterdam-Antwerp (ARA)
JKM LNG (Platts) natural gas benchmarks now trades on exchange versus over-the- region. With the vessel’s chilled fuel cargo
as participants responded to volatile counter (OTC). In 2014, less than 15% of capacity of 5200 cubic meters, the chartering
market conditions set against the ongoing TTF volumes were executed via exchanges. increases the delivery promise of Titan LNG
liberalisation of liquefied natural gas. At the end of 2020, this figure had increased significantly.
Market participants are utilizing the TTF to approximately 45%. This trend of growing The Green Zeebrugge is added to the two

Week 05 05•February•2021 www. NEWSBASE .com P17