MAN Heart for Angelicoussis Shipping’s New Vessels

first_imgzoom Four new vessels, ordered last week by Maran Tankers Management (MTM) and Maran Gas Maritime, oil tanker and gas shipping units of the Angelicoussis Shipping Group Limited (ASGL), will each be fitted with MAN engines, according to the company’s statement.Angelicoussis Shipping’s units ordered two ME-GI powered 173,400 cbm liquefied natural gas (LNG) carriers and two 318,000 dwt Very Large Crude Carriers (VLCCs).With a length of 295 meters and a breadth of 46 meters, the LNG carrier pair will be fitted with MAN B&W 2 x 5G70ME-C9.5-GI gas and fuel burning engines fulfilling IMO Tier III by EGR in both gas and fuel mode. MAN said that this engine type is expected to raise fuel efficiency compared to a standard LNG carrier, while at the same time lowering emissions.The new VLCCs, which will be 336 meters long and 60 meters wide, will each be powered by a single MAN B&W 7G80ME-C9.5 high-efficiency engine fitted with the latest fuel saving technologies and an exhaust gas recirculation system ensuring Tier III compliance, MAN said.The vessels order, placed with the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME), includes options for up to four more units.DSME earlier said that the contract is worth some KRW 5.8 billion (USD 501 million) and represents the biggest deal signed by the yard so far this year.Should the options for two more LNG carriers and 2 VLCCs be exercised, the order value would be brought up to KRW 11 billion (over USD 1 billion).The LNG carriers and the VLCCs are slated for delivery in 2019 and in the first half of 2018, respectively.Angelicoussis Shipping has 21 ships being built at DSME’s yards.last_img read more

Strong signals for Australian coal demand

first_imgGreg Evans, Executive Director – Coal, Minerals Council of Australia – says the International Energy Agency’s (IEA) Southeast Asia Energy Outlook report, just released, “presents a positive outlook for Australian coal producers with expected increasing demand, particularly for thermal coal.“The ten nations that make up the ASEAN region are exhibiting strong population growth, increasing urbanisation and robust economic growth with the region’s economy expected to triple in size to 2040. This has significant implications for energy demand which will be served by existing resource endowments but also by increasing imports.“Currently the mainstays of Australian coal exports, both metallurgical and thermal, are the traditional north Asian markets of Japan, China, Korea and Taiwan with India also growing in importance. However Southeast Asia will gain in significance for Australian producers with inroads already established in Vietnam, Malaysia, Thailand and the Philippines. This trade was valued at A$1.7 billion in 2016-17.“The IEA report indicates that since 2000 the region has been the third-largest investor in coal fired power generation behind China and India at $66 billion. Projections under the IEA’s New Policies Scenario are for coal’s share of electricity generation to increase from 35% today to over 40% by 2040. In addition, in 2040 coal is projected to be the second largest fuel meeting primary energy demand after oil.“To meet the challenges of reducing carbon dioxide emissions the majority of the new power station build will be High Efficiency, Low Emissions (HELE) technologies with a total increase of 100 GW in coal fired capacity in the outlook period to 2040 – more than four times Australia’s current total coal fired capacity.“The report also notes the available technologies to reduce sulphur dioxide, nitrous oxide and particulate emissions to negligible levels and the opportunity this provides to greatly improve urban air quality.“With coal demand increasing in the region by near 4% annually to 2040 and declining Indonesian exports over the same period (from 290 Mtce in 2016 to 170 Mtce in 2040) the IEA expects Australia, with its high quality coal, will increase its exports by more than 15% to 2040.“Australia is an efficient coal producer, it is well positioned to deliver to Asia and provides a high quality coal suitable for new generation coal plants and steel making. This latest report confirms the underlying demand for coal and the considerable opportunity for Australia in the growing market of Southeast Asia.”last_img read more