Latest news with #marinefuel
Reuters
19-05-2025
- Business
- Reuters
First LNG ship bunkering hub in US Gulf Coast secures permits to start work
LONDON, May 19 (Reuters) - A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday. The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG seen as a cleaner alternative. U.S. President Donald Trump's administration is seeking to expand LNG exports to help reduce Europe's dependency on Russian gas after Moscow's invasion of Ukraine three years ago. U.S. LNG can be used as a marine fuel in U.S. ports and surrounding waters without export licences needed, which is emerging as a separate market that the project is looking to capitalise on. The facility is located on the Texas City Ship Channel and the Galveston LNG Bunker Port (GLBP) company will supply LNG by fuel barge to the expanding fleet of LNG-fuelled vessels in the greater Houston-Galveston region, GLBP said. GLBP is a joint venture between Houston based Pilot LNG and Seapath, a subsidiary of global business group Libra. The total project's overall cost is estimated in the region of at least $300 million, Seapath said. The project received the final authorisations from the U.S. Army Corps of Engineers and the U.S. Coast Guard. Initial bunker deliveries are scheduled for the second half of 2027, Seapath said. "After several years of challenging and complex work ... we are now comfortably ahead in the marketplace to be the first dedicated LNG marine fuels supplier in the U.S. Gulf," Seapath's president Josh Lubarsky added in a statement. "We have made a significant financial commitment to this project and, over the course of the last few years, have positioned GLBP to be the foremost clean fuel supply hub in the Galveston Bay/Gulf region." The first phase of production at the 140-acre greenfield development will target 360,000 gallons per day (gpd), which will come online within approximately two years, with the second phase for a full production of 720,000 gpd, approximately eight to 12 months thereafter, Seapath said. The GLBP project is the second dedicated LNG bunkering facility in the U.S. after Florida-headquartered joint venture JAX LNG, which operates a 360,000 gpd plant, opens new tab. GLBP will also support Port Houston - the largest port for waterborne tonnage in the U.S., which has $906 billion in national economic value, opens new tab. Libra Group, which has more than 50 years of maritime experience, also owns Lomar Shipping that operates a fleet of more than 40 vessels. Libra's other maritime subsidiary, Americraft Marine, owns and operates a Jones Act shipyard in Florida - one of the few in the U.S. that is building crew transfer vessels to service the growing offshore wind industry, as well as tugboats and barges.
Yahoo
19-05-2025
- Business
- Yahoo
First LNG ship bunkering hub in US Gulf Coast secures permits to start work
By Jonathan Saul LONDON (Reuters) -A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday. The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG seen as a cleaner alternative. U.S. President Donald Trump's administration is seeking to expand LNG exports to help reduce Europe's dependency on Russian gas after Moscow's invasion of Ukraine three years ago. U.S. LNG can be used as a marine fuel in U.S. ports and surrounding waters without export licences needed, which is emerging as a separate market that the project is looking to capitalise on. The facility is located on the Texas City Ship Channel and the Galveston LNG Bunker Port (GLBP) company will supply LNG by fuel barge to the expanding fleet of LNG-fuelled vessels in the greater Houston-Galveston region, GLBP said. GLBP is a joint venture between Houston based Pilot LNG and Seapath, a subsidiary of global business group Libra. The total project's overall cost is estimated in the region of at least $300 million, Seapath said. The project received the final authorisations from the U.S. Army Corps of Engineers and the U.S. Coast Guard. Initial bunker deliveries are scheduled for the second half of 2027, Seapath said. "After several years of challenging and complex work ... we are now comfortably ahead in the marketplace to be the first dedicated LNG marine fuels supplier in the U.S. Gulf," Seapath's president Josh Lubarsky added in a statement. "We have made a significant financial commitment to this project and, over the course of the last few years, have positioned GLBP to be the foremost clean fuel supply hub in the Galveston Bay/Gulf region." The first phase of production at the 140-acre greenfield development will target 360,000 gallons per day (gpd), which will come online within approximately two years, with the second phase for a full production of 720,000 gpd, approximately eight to 12 months thereafter, Seapath said. The GLBP project is the second dedicated LNG bunkering facility in the U.S. after Florida-headquartered joint venture JAX LNG, which operates a 360,000 gpd plant. GLBP will also support Port Houston - the largest port for waterborne tonnage in the U.S., which has $906 billion in national economic value. Libra Group, which has more than 50 years of maritime experience, also owns Lomar Shipping that operates a fleet of more than 40 vessels. Libra's other maritime subsidiary, Americraft Marine, owns and operates a Jones Act shipyard in Florida - one of the few in the U.S. that is building crew transfer vessels to service the growing offshore wind industry, as well as tugboats and barges. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Gulf Business
16-05-2025
- Business
- Gulf Business
UAE's Fujairah marine fuel sales hit over a year's high in April
Image credit: Getty Images (Picture used for illustrative purposes) Marine fuel sales at the United Arab Emirates' Fujairah port reached more than a year's high in April, extending recovery for a second straight month, latest data showed. Read- Sales, excluding lubricants, totalled 669,378 cubic metres (about 663,000 metric tons) at the world's third largest bunker port, based on Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights late Thursday. Bunker volumes in April climbed 4.6 per cent from the previous month, while edging 4.8 per cent higher from the same month last year. The uptick was led by supported demand for high-sulphur marine fuel, with sales climbing 12.6 per cent month-on-month to 189,388 cubic metres. Meanwhile, low-sulphur marine fuel sales, including low-sulphur fuel oils and marine gasoils, inched 1.8 per cent higher to about 480,000 cubic metres. The market share of high-sulphur bunkers widened to 28 per cent in April, while low-sulphur bunkers were at 72 per cent. Bunker demand at Fujairah rebounded in March and April after a slump in February. Fujairah bunker sales by month, in cubic metres: Month Total Sales M-o-M Y-o-Y Jan-25 628,663 3.7% -6.8% Feb-25 554,117 -11.9% -12.5% Mar-25 639,811 15.5% -8.7% Apr-25 * 669,378 4.6% 4.8% Breakdown of volumes by grade, in cubic metres: Month 180cst LSFO 380cst LSFO 380cst HSFO MGO LSMGO Lubricants Jan-25 2,141 403,717 185,091 79 37,635 4,351 Feb-25 702 382,303 142,595 341 28,176 4,183 Mar-25 1,195 432,560 168,140 128 37,788 4,991 Apr-25 * 885 443,509 189,388 307 35,289 5,296 Data source: Fujairah Oil Industry Zone data published by S&P Global Commodity Insights (1 cubic metre = 6.29 barrels) (1 metric ton = 6.35 barrels for fuel oil)
Zawya
16-05-2025
- Business
- Zawya
UAE's Fujairah marine fuel sales hit over a year's high in April
SINGAPORE - Marine fuel sales at the United Arab Emirates' Fujairah port reached more than a year's high in April, extending recovery for a second straight month, latest data showed. Sales, excluding lubricants, totalled 669,378 cubic metres (about 663,000 metric tons) at the world's third largest bunker port, based on Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights late Thursday. Bunker volumes in April climbed 4.6% from the previous month, while edging 4.8% higher from the same month last year. The uptick was led by supported demand for high-sulphur marine fuel, with sales climbing 12.6% month-on-month to 189,388 cubic metres. Meanwhile, low-sulphur marine fuel sales, including low-sulphur fuel oils and marine gasoils, inched 1.8% higher to about 480,000 cubic metres. The market share of high-sulphur bunkers widened to 28% in April, while low-sulphur bunkers were at 72%. Bunker demand at Fujairah rebounded in March and April after a slump in February. Fujairah bunker sales by month, in cubic metres: Month Total Sales M-o-M Y-o-Y Jan-25 628,663 3.7% -6.8% Feb-25 554,117 -11.9% -12.5% Mar-25 639,811 15.5% -8.7% Apr-25 * 669,378 4.6% 4.8% Breakdown of volumes by grade, in cubic metres: Data source: Fujairah Oil Industry Zone data published by S&P Global Commodity Insights (1 cubic metre = 6.29 barrels) (1 metric ton = 6.35 barrels for fuel oil) (Reporting by Jeslyn Lerh; Editing by Michael Perry)
Yahoo
14-05-2025
- Business
- Yahoo
CBL International Limited (NASDAQ: BANL) to Participate in the Lytham Partners Spring 2025 Investor Conference on May 29, 2025
KUALA LUMPUR, Malaysia, May 14, 2025 (GLOBE NEWSWIRE) -- CBL International Limited (NASDAQ: BANL) (the 'Company' or 'CBL'), the listing vehicle of Banle Group ('Banle' or 'the Group'), a leading marine fuel logistic company in the Asia-Pacific region, today announced that Dr. Teck Lim Chia, Chairman and CEO, will participate in a webcasted fireside chat and Ms. Venus Zhao, our IR and PR Director, will host one-on-one meetings with investors at the Lytham Partners Spring 2025 Investor Conference, taking place virtually on Thursday, May 29, 2025. Company Webcast The webcast presentation will take place at 12:30 pm on Thursday, May 29, 2025, Eastern Time. The webcast can be accessed by visiting the conference home page at or directly at Pk09l74O. The webcast will also be available for replay following the event. 1x1 Meetings Management will be participating in virtual one-on-one meetings throughout the event. To arrange a meeting with management, please contact Lytham Partners at 1x1@ or register for the event at About the Banle Group CBL International Limited (Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable marine fuel logistic company based in the Asia Pacific region that was established in 2015. We are committed to providing customers with one-stop solution for vessel refueling, which is referred to as bunkering facilitator in the bunkering industry. We facilitate vessel refueling mainly through local physical suppliers in over 60 major ports covering Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, the Philippines, Singapore, Taiwan, Thailand, Turkey and Vietnam, as of 16 April, 2025. The Group actively promotes the use of sustainable fuels and is awarded with the ISCC EU and ISCC Plus certifications. For more information about our company, please visit our website at: CBL INTERNATIONAL LIMITED(Incorporated in Cayman Islands with limited liabilities) For more information, please contact:CBL International LimitedEmail: investors@ Strategic Financial Relations Limited Shelly Cheng Tel: (852) 2864 4857 Iris Au Yeung Tel: (852) 2114 4913 Email: sprg_cbl@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
