Page 14 - GLNG Week 06 2021

GLNG NEWS IN BRIEF GLNG

for these four vessels is in line with NYK’s in us, as without them this deal would not commodities’ assessments
plan to replace current vessels with around have been possible. The Peninsula approach
40 newly built LNG-fuelled PCTCs over the to traditional marine energy works equally in key milestone for global
next decade to achieve NYK’s environment efficiently with more sustainable fuels,
management target, which is to reduce CO2 without any compromise on product quality, natural gas markets
emissions per ton-kilometer of transport by or service, so expect to see more activity in
50% by 2050. NYK aims to further advance to this space. We are also delighted that the Intercontinental Exchange (NYSE:ICE), a
zero-emission vessels utilising low-emission sustainability principles of Peninsula fully leading operator of global exchanges and
marine fuels such as hydrogen and ammonia align with Petronas Marine, H-Line and their clearing houses and provider of mortgage
from around the mid-2030s. charterer; POSCO. It is pleasing to be part of a technology, data and listings services,
On February 3, 2021, NYK announced drive towards positive environmental change, announced today that it plans to launch LNG
the NYK Group ESG Story, which aims to alongside these highly respected companies. freight futures contracts based on Spark
further integrate ESG into the company’s Nacho De Miguel, who leads Peninsula’s LNG Commodities’ price assessments, marking a
management strategy and promotes activities business, added “delivery took place safely milestone in the evolution of the LNG market.
that contribute to the achievement of the and was completed within 20 hours, a record These new contracts – called the Spark30S
SDGs (sustainable development goals) by time for the quantity supplied, including Atlantic and Spark25S Pacific LNG Freight
providing cleaner transportation services, the cooling down of an LNG tank. H-Line, Future contracts – are traded and settled in
including the introduction of next-generation Petronas Marine and Peninsula remained in USD per day. The numbers in the contract
eco-friendly ships within the PCTC fleet. To regular dialogue throughout the process and names indicate the number of days it takes
strongly promote ESG management, NYK will we look forward to working together again on an LNG vessel to complete a return voyage
encourage new value creation as a sustainable future LNG bunker deliveries.” on the respective routes. The settlement price
solution provider through a business strategy Peninsula recently announced the of the contracts are based on the Spark30S
that responds to climate change. implementation of its LNG bunkering, (Atlantic) and Spark25S (Pacific) LNG freight
NYK, February 12, 2021 small-scale LNG business and Global spot price assessments. Market participants
Sustainability Initiative. The group is working can use the contracts to manage price risk in
Peninsula completes on multiple deals in strategic bunkering respect of round-trip voyages between the US
Gulf Coast and North West Europe (Spark30
locations worldwide. Additionally, Peninsula
record-breaking first LNG is committed to developing its own LNG assessment); and Australia and Japan, Korea,
Taiwan and China (Spark25 assessment).
bunkering vessels and is currently in
deal discussions with several shipowners and ICE plans to launch these cash settled futures
shipyards to materialise its strategic LNG plan. contracts on March 22, 2021, subject to
Peninsula, the leading marine fuels solutions PENINSULA PETROLEUM, February 08, 2021 regulatory approval.
company, has today announced completion These new freight contracts will form part
of a record breaking first LNG bunker supply. GTT receives an order from of ICE’s global natural gas complex as the
At the end of January, in partnership with market manages freight price risk alongside
Petronas Marine, Peninsula successfully Hyundai Samho Heavy existing TTF, NBP, Henry Hub, JKM LNG
completed its first LNG bunker supply to (Platts) and WIM LNG (Platts) contracts.
its customer H-Line Shipping in Malaysian Industries for the tank “We have been in close engagement with
waters. the LNG market for more than two years
This operation has special relevance as it design of a new LNG carrier about the right assessment on which to base
represents the first LNG bunker delivery to LNG freight futures. During that time, LNG
the world’s largest LNG powered bulk carrier, GTT announces that it has received an order freight markets have become increasingly
the 180k dwt eco-friendly HL Green, on from its partner the Korean shipyard Hyundai volatile, significantly increasing demand for
its inaugural voyage. At 2,760 bcm it ranks Samho Heavy Industries (HSHI) for the tank suitable LNG freight risk management tools,”
among the largest LNG bunker deliveries design of a new LNGC. said Gordon Bennett, Managing Director
performed to date. As part of this order, GTT will design the of Utility Markets at ICE. “We believe that
Peninsula’s LNG and Asian teams worked tanks of a 174,000 m3 LNGC. The LNGC our freight futures contracts, priced against
closely with H-Line and Petronas Marine tanks will be fitted with the GTT Mark III Spark’s assessment, will provide the hedging
to deliver the deal. The company’s global Flex membrane containment system. tools the market has been waiting for. They
network of offices, suppliers and customers The delivery of the vessel is scheduled for will trade and clear alongside the highly liquid
facilitates operational excellence, ensuring the second quarter of 2023. and global gas benchmarks on ICE including
smooth supply and quality service. The trust GTT, February 08, 2021 TTF, Henry Hub, NBP, JKM and WIM. This
placed in the company by a longstanding is a milestone moment in the evolution and
customer allowed Peninsula to co-ordinate maturity of the LNG market and one we
with potential suppliers and expedite the deal EUROPE think can benefit all those involved in LNG
from start to finish. markets.”
John A. Bassadone, Peninsula’s CEO said ICE to launch LNG freight INTERCONTINENTAL EXCHANGE, February 10,
“this is a landmark achievement for Peninsula. 2021
I would like to personally thank H-Line and futures based on spark
Petronas Marine for their continued trust

P14 www. NEWSBASE .com Week 06 12•February•2021