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Additionally, the spot charter market has evolved into a multiple tier market, with older steam vessels competing with more efficient newbuilds to find fixtures. Unfortunately turbochargers are both complex and expensive. However, recently the cost of building liquefaction and regasification terminals doubled due to increased cost of materials and a shortage of skilled labor, professional engineers, designers, managers and other white-collar professionals. Archived from the original on 13 August These larger conventional carriers have become the new standards for LNG vessel capacity in the orderbook.

Customer ratings & reviews

The crude birth rate in the EU in was among the lowest across the G20 members.

I thought I was just unlucky but I see several other reviewers with this comment. I'm still buying another pair because the sound quality and comfort are great. Beyond expectation, Worth it! Gyan December 2, I have 3 earbuds, a. I must say Reimers is the best one, just because it delivers Big Bang value for its cost and quality it offers! May be sound quality can be improved, but this is great for not just workout but also for day to day activity on phone!

Disappointing to wear, good to listen to! MyNicknameIs November 21, Sound is good but they are really irritating. The rubbery cord catches on everything, pulling the buds, often I find them pinging out and the rubber earpiece goes flying. I miss the nylon cord from earlier earbuds.

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Great sound, but don't buy these headphones expecting them to last you a long time. I enjoyed using these headphones, they had a great fit, but I'm going to be looking for other options. Hiakom Smoosthie October 5, The only earbuds that fits on my ear perfectly. And the only earbuds that i've used, too.

Won't last forever, but they're still worth it. Leanne September 25, I bought the Reimers about 16 months ago and absolutely loved them until today when the audio to one ear cut out. All my urbanears headphones have the same lifespan, regardless of cost.

They are absolutely incredible for running, especially with the clips and controls. The sounds quality is great. Only other trouble was almost losing the buds many times because they fall off easy. The capacity surplus is likely to continue until at least when Australian and US volumes ramp up, supporting additional demand for tonnage.

A total of 4, voyages were completed during , a slight increase of 1. The rapid expansion in LNG trade over the past decade has been accompanied by an increasing diversification of trade routes. Trade was traditionally conducted on a regional basis along fixed routes serving long-term point-to-point contracts. However, the entry of new importers and exporters combined with growing destination flexibility in LNG supply contracts and greater spot market trade has prompted shipping routes to multiply.

Further, growing demand in the Pacific basin has increased the average distance of LNG deliveries, with Atlantic Basin volume being redirected East of Suez. In , the longest voyage — from Trinidad to Japan around the Cape of Good Hope — was taken by three separate vessels.

Conversely, the shortest voyage — a more traditional route from Algeria to the Cartagena terminal in Spain — occurred 14 times in The most common voyage was from Australia to japan, with over trips completed during the year.

In , the number of voyages completed on a per tanker basis dropped as many newbuilds sat idle in Asia Pacific and owners struggled to fix then beyond spot voyages.

Strong Atlantic to Pacific trade continued on the arbitrage opportunity between basins. With the influx of unchartered LNG carriers in , a number of shippers repositioned their available tankers in the Atlantic basin in an attempt to charter them for a spot voyage to Asia pacific. However, aside from December, the weakness in Northeast Asian spot purchasing in the second half of reduced demand for the long-haul cross-regional voyages, softening vessel utilisation rates.

At the end of , conventional vessels were on order. By contrast, 31 vessels were covered by either a short-term charter i. In , newbuild vessel orders increased two-fold compared to The majority of orders in are slated for delivery by early As these larger, more efficient newbuilds hit the water, some older vessels with less capacity will likely be retired.

Many independent shipping companies made moves to dramatically grow their fleet sizes in the aftermath of the Fukushima nuclear crisis. While Golar ordered newbuilds primarily on a speculative basis, competitors such as Maran Gas Maritime and GasLog LNG chiefly placed orders based on term charter agreements with international oil companies.

In recent years, some international oil companies have chosen to move shipping off balance sheet to concentrate capital on their core business. BG has been the most notable example of this trend, renewing its fleet by chartering newbuild orders with independent shipping companies and selling off existing equity vessels to Gaslog in Over the past decade, LNG carrier costs have remained constant once controlled for capacity. With the exception of the Grace Dahlia — which was delivered in September , 68 months after the order was first placed — vessels have historically been delivered between 30 and 50 months after the order is placed.

However, the delivery timeline has varied depending on the type of propulsion system. For instance, when DFDE vessels were first ordered in the early s, the time to delivery was expanded as shipyards had to adapt to the new ship specifications.

DFDE tankers delivered in saw an average time of 60 months between order and delivery. With the growing adaptation of ME-GI propulsion in newbuild vessels, shipowners may increasingly convert their previous orders to include the new propulsion system. The flexibility to burn gas or fuel oil depending on market conditions could offer ME-GI propulsion vessels a distinct competitive advantage in the market. Additionally, one Q-Max vessel has been scheduled for a retrofit conversion to ME-GI propulsion in during a dry dock.

The Previous discount rate has been in place since LNG carriers going through the Suez Canal pay tolls based upon gross tonnage, which caused the Moss-type to pay higher fees than the Membrane-type when comparing on the same cubic meter carrying capacity.

Although the start-up will come a year behind the initial schedule, the mile artery of the Panama Canal connecting the Atlantic and Pacific oceans will become the primary inter-basin route for US LNG exports. The trip from the US Gulf Coast to Japan and back through panama wil take 43 days, saving almost 20 days off the roundtrip voyage compared to going through the Suez Canal. Unlike the Suez Canal, charges will be by volume and not tonnage. This different structure removed any transit pricing differential between Moss-type and membrane-type vessels.

This is a very competitive tariff. To be considered a roundtrip voyage, vessels must transit on ballast passage within 60 days of completion of the laden passage.

There could be other additional costs not factored in like security, tugboats, and reservation fees. In the US, the new law S. While the act merely highlights the benefits for shipyards and employment opportunities within the US, it is unclear how the act will be implemented and enforced. By the end of , the US Congress is slated to have outlined more concrete parameters in regards to the LNG-related issues in the Act.

How quickly will a more pronounced three-tier market for LNG vessel charters emerge? With the growing number of speculatively-ordered fuel-efficient TFDE and ME-GI tankers being delivered from the shipyards, a multi-tiered charter rate system could become more of a prominent fixture in the shipping market.

However, as the global fleet becomes more diverse in propulsion systems and other key characteristics, rated may break out further to include 1st generation steam, ME-Gi, and Steam Reheat carriers. The varying degrees of propulsion system efficiency in the global fleet — which provides potential characters with more operational flexibility — will likely drive a more rigid segmentation of the LNG charter market over the coming years.

Charter rates are expected to struggle over the next three years as more than tankers are set to enter the market during this period. Many of the Australian projects are expected to come online during this period; however, the bulk of the volumes are contracted to Asian buyers, which results in a relatively short voyage distance. With more production and vessels positioned in the Pacific Basin, the number of LNG carriers required for the transport of the volumes is limited.

During this period of weakness, older vessels will increasingly be retired, either through scrapping or conversion to floating regasification or liquefaction units. This may provide support for the charter rated to start recovering by However, with the oil price environment casting a negative light on sanctioning new LNG supply, the recovery in the shipping market may be pushed back until the beginning of next decade.

Do non-traditional players in the LNG market have more opportunity to participate in supplying volumes? With the increasing number of uncontracted volumes expected to come online over the next five years, there will likely be a larger role played by pure traders. Historically, the LNG trade had high barriers to entry, with all aspects tied to long-term contacts.

Now, with the LNG carrier market saturated with speculatively ordered tonnage, a healthy supply of LNG and buyers looking for shooter contract durations, the environment is set for traders to capitalize conditions. Already two ice-classed LNG vessels have sailed the Northern Sea Route NSR during the open water navigation window in years and , assisted by Russian nuclear ice-breakers and benefitting from the shorter route from Europe to Asia.

The fleet of 15 Arc7 ice-breaking LNG vessels dedicated to the project may be a breakthrough for maritime logistics and boost the traffic along the NSR is not navigable, the ice breakers will be used to shuttle cargoes from Yamal to Belgium for re-loading purposes.

The global regasification market continues to expand at a steady pace, with capacity growth coming from new and existing importers alike.

Particularly the advancement of floating regasification technology has enabled new countries to secure access to the global LNG market, while existing importers have often focused on bringing online larger terminals with increased send-out, berthing and storage capacity. Over the past five years alone eight new countries have joined the ranks of existing importers, with an additional four countries expected to commission their first import terminal in With several new liquefaction plants ready to start operations in the coming years, import markets worldwide are expected to benefit from a looser supply environment and potentially lower prices, thus increasingly relying on LNG to meet their rising energy needs end replace completing fuels.

The total number of active regasification terminals as of end increased to In the first quarter of , Indonesia further completed the conversion of the Arun liquefaction plant into a 3 MTPA regasification terminal. Just before the end of the year, Lithuania became the only new LNG importing country of , bringing the total number of countries with LNG import capacity up to This count, along with all other totals within this section, only includes countries with large-scale LNG import capacity 1 MTPA and above.

Refer to Chapter 12 for a description of the categorization of small-scale versus large-scale LNG. Since , the number of LNG importing countries has tripled and regasification capacity has more than doubled. A wider range of LNG supply options, flexible shipping strategies, the growth of the spot market and floating regasification technology have allowed new countries to become LNG importers.

This includes traditionally export-oriented regions such as the Middle East , emerging economics with growing energy needs in Asia, Asia pacific and Latin America , and countries seeking greater enerhy security and diversification mainly in Europe.

As indicated by the diagonal bars, additional projects that have not yet been sanctioned could come online after In total, seven new regasification terminals were completed over course of Additionally, three capacity expansion projects were finalised in Singapore finalised the second phase of Jurong Island terminal.

Through , global LNG receiving capacity will continue to grow and reach new markets. Out of the 17 terminals under construction as of early not including terminal expansion phases , five were located in countries that will newly join the ranks of LNG importers: Egypt, Jordan, Pakistan, Poland and Uruguay.

While 31 MTPA of new receiving capacity came online over the course of the year, LNG supply saw more modest gains, thus leading to lower overall utilisation.

The average maximum send-out capacity of regasification terminals has declined in recent years and amounted to 9. This is largely a result of small to medium-sized terminals coming online in smaller markets. The growing use of floating terminals, whose capacity is generally below 6 MTPA, has also contributed to this. Japan remains the world's largest LNG import market, bth by capacity as well as actual imports.

Three additional large-scale terminals or terminal expansion phases with a combined capacity of 3. Japan's dominant import position is not expected to change. Each of these markets has less than 4 MTPA of capacity. Its LNG imports as well as receiving capacity have increased significantly in recent years.

China became the world's fifth largest regasification market by capacity in Furthermore, seven new receiving terminals and two expansion phases with a total capacity of 28 MTPA were under construction as of early However, LNG demand growth remained below expectations in In contrast, Canada and the US — due to soaring domestic production — barely utilised their import infrastructure. Capacity growth in both rising China, India and established Japan, South Korea markets in Asia and Asia Pacific has recently re-affirmed the continent's dominance in global regasification capacity.

Special points of interest:. The vessel is on charter contract with Cheniere and is expected to enter service early , making it the most effi cient LNG ship on the water with the lowest unit freight cost in the world fl eet.

Over the next 8 months DSME will install the cargo containment system capable of transporting , m3 o LNG and put the ship and its equipment through the required tests and trials. The Motorship attended the event, at which the results of the Helios project, aiming to develop a research platform for an LNGfuelled two-stroke marine Diesel engine.

The project centred around MAN's ME-GI research engine and it was enlightening to see the two different approaches to gasfuelled two-stroke developments following our visit to Wartsila in Trieste two weeks ago. However, it appears to be engineered with an even more highly fail-safe approach to problems with the gas system and a simpler retrofit possibility. MAN is confident that with further development the pilot fuel percentage can reduce further, and NOx emissions can be cut. Department of Energy approved Dominion Cove Point 's application to export up to million cubic feet per day of LNG to countries that do not have a free trade agreement with the U.

Gulf Coast region have also received conditional Federal approval. In the commercial development of an LNG value chain, LNG suppliers first confirm sales to the downstream buyers and then sign long-term contracts typically 20—25 years with strict terms and structures for gas pricing. Only when the customers are confirmed and the development of a greenfield project deemed economically feasible, could the sponsors of an LNG project invest in their development and operation.

Thus, the LNG liquefaction business has been limited to players with strong financial and political resources. LNG is shipped around the world in specially constructed seagoing vessels. The trade of LNG is completed by signing an SPA sale and purchase agreement between a supplier and receiving terminal, and by signing a GSA gas sale agreement between a receiving terminal and end-users.

Most of the contract terms used to be DES or ex ship , holding the seller responsible for the transport of the gas. With low shipbuilding costs, and the buyers preferring to ensure reliable and stable supply, however, contracts with FOB terms increased. Under such terms the buyer, who often owns a vessel or signs a long-term charter agreement with independent carriers, is responsible for the transport.

LNG purchasing agreements used to be for a long term with relatively little flexibility both in price and volume. If the annual contract quantity is confirmed, the buyer is obliged to take and pay for the product, or pay for it even if not taken, in what is referred to as the obligation of take-or-pay contract TOP.

In the mids, LNG was a buyer's market. At the request of buyers, the SPAs began to adopt some flexibilities on volume and price. The buyers had more upward and downward flexibilities in TOP, and short-term SPAs less than 16 years came into effect. At the same time, alternative destinations for cargo and arbitrage were also allowed. By the turn of the 21st century, the market was again in favor of sellers. However, sellers have become more sophisticated and are now proposing sharing of arbitrage opportunities and moving away from S-curve pricing.

Russia and Qatar , countries with the largest and the third largest natural gas reserves in the world, have finally supported such move. Until , LNG prices have closely followed oil prices. In contrast, prices in the US and the UK have recently skyrocketed, then fallen as a result of changes in supply and storage. The current surge in unconventional oil and gas in the U. This has led to discussions in Asia' oil linked gas markets to import gas based on Henry Hub index.

Plans exist for Bahrain, Germany, Ghana, Morocco, Philippines, Vietnam [30] and others to also construct new receiving regasification terminals. Using proven technology and a proven contractor is extremely important for both investors and buyers. LNG is most cost efficiently produced in relatively large facilities due to economies of scale, at sites with marine access allowing regular large bulk shipments direct to market.

This requires a secure gas supply of sufficient capacity. Ideally, facilities are located close to the gas source, to minimize the cost of intermediate transport infrastructure and gas shrinkage fuel loss in transport. The high cost of building large LNG facilities makes the progressive development of gas sources to maximize facility utilization essential, and the life extension of existing, financially depreciated LNG facilities cost effective.

The primary use of LNG is to simplify transport of natural gas from the source to a destination. On the large scale, this is done when the source and the destination are across an ocean from each other.

It can also be used when adequate pipeline capacity is not available. For large scale transport uses, the LNG is typically regassified at the receiving end and pushed into the local natural gas pipeline infrastructure.

These plants are typically called LNG Peak Shaving Plants as the purpose is to shave off part of the peak demand from what is required out of the supply pipeline. LNG is in the early stages of becoming a mainstream fuel for transportation needs. It is being evaluated and tested for over-the-road trucking, [34] off-road, [35] marine, and train applications. LNG competes directly with compressed natural gas as a fuel for natural gas vehicles since the engine is identical.

An alternative fuelling centre tracking site shows 84 public truck LNG fuel centres as of Dec Engine displacement is an important factor in the power of an internal combustion engine. Thus a cc engine would typically be more powerful than an cc engine, but that assumes a similar air-fuel mixture is used.

If, however, via a turbocharger as an example, the smaller engined uses an air-fuel mixture with higher energy density, then it might be able to produce more power than the larger one burning a less energy dense air-fuel mixture.

Unfortunately turbochargers are both complex and expensive. With traditional gasoline and diesel engines the energy density of the air-fuel mixture is limited because the liquid fuels do not mix well in the cylinder. Further, gasoline and diesel fuel have autoignition temperatures and pressures relevant to engine design.

An important part of traditional engine design is designing the cylinders, compression ratios, and fuel injectors such that pre-ignition but at the same time as much fuel as possible can be injected, become well mixed, and still have time to complete the combustion process during the power stroke.

Natural gas does not auto-ignite at pressures and temperatures relevant to traditional gasoline and diesel engine design, thus providing more flexibility in the design of a natural gas engine. With a compressed natural gas CNG engine, the mixing of the fuel and the air is more effective since gases typically mix well in a short period of time, but at typical CNG compression pressures the fuel itself is less energy dense than gasoline or diesel thus the end result is a lower energy dense air-fuel mixture.

Thus for the same cylinder displacement engine, a non turbocharged CNG powered engine is typically less powerful than a similarly sized gas or diesel engine.

For that reason turbochargers are popular on European CNG cars. The original ISX G engines incorporated a turbocharger to enhance the air-fuel energy density. LNG offers a unique advantage over CNG for more demanding high-horsepower applications by eliminating the need for a turbocharger. A properly designed high-horsepower engine can leverage this extremely high pressure energy dense gaseous fuel source to create a higher energy density air-fuel mixture than can be efficiently created with a CNG powered engine.

The end result when compared to CNG engines is more overall efficiency in high-horsepower engine applications when high-pressure direct injection technology is used. The Westport HDMI2 [52] fuel system is an example of a high-pressure direct injection technology that does not require a turbocharger if teamed with appropriate LNG heat exchanger technology. Westport recommends CNG for engines 7 litres or smaller and LNG with direct injection for engines between 20 and litres. For engines between 7 and 20 litres either option is recommended.

High horsepower engines in the oil drilling, mining, locomotive, and marine fields have been or are being developed. As of the end of 1st quarter Prometheus Energy Group Inc claims to have delivered over million gallons of LNG within the previous 4 years into the industrial market, [57] and is continuing to add new customers.

LNG bunkering has been established in some ports via truck to ship fueling. Feeder and Shortsea shipping company Unifeeder have been operating the world's first LNG powered container vessel, the Wes Amelie, since late transiting between the port of Rotterdam and the Baltics on a weekly schedule. In , Shell ordered a dedicated LNG bunker vessel. Replacement of high sulphur bunker fuel with sulphur free LNG is required on major scale in marine transport sector as low sulphur liquid fuels are costlier than LNG.

The global trade in LNG is growing rapidly from negligible in to what is expected to be a globally meaningful amount by As a reference, the global production of crude oil was 92 million barrels per day [66] or In , global LNG trade was of 3 billion cubic metres bcm 0.

In , LNG accounted for 7 percent of the world's natural gas demand. Japan, South Korea and Taiwan. It also brought new Atlantic Basin and Middle East suppliers into the trade. The three biggest LNG exporters in were Qatar The three biggest LNG importers in were Japan In , Qatar became the world's biggest exporter of LNG. Today, only 19 countries export LNG.

Compared with the crude oil market, in the natural gas market was about 72 percent of the crude oil market measured on a heat equivalent basis , [77] of which LNG forms a small but rapidly growing part. Much of this growth is driven by the need for clean fuel and some substitution effect due to the high price of oil primarily in the heating and electricity generation sectors.

In , Japan imported Also in , South Korea imported These three major buyers purchase approximately two-thirds of the world's LNG demand. In addition, Spain imported some 8. France also imported similar quantities as Spain. However, if Seller and Buyer make a mutual agreement, then the diversion of the cargo is permitted—subject to sharing the additional profit created by such a diversion.

For an extended period of time, design improvements in liquefaction plants and tankers had the effect of reducing costs. But this perception of steadily falling costs for LNG has been dashed in the last several years. The — global financial crisis caused a general decline in raw material and equipment prices, which somewhat lessened the construction cost of LNG plants. However, by this was more than offset by increasing demand for materials and labor for the LNG market. Small-scale liquefaction plants are suitable for peakshaving on natural gas pipelines, transportation fuel, or for deliveries of natural gas to remote areas not connected to pipelines.

This proximity decreases transportation and LNG product costs for consumers. The small-scale LNG plant also allows localized peakshaving to occur—balancing the availability of natural gas during high and low periods of demand. It also makes it possible for communities without access to natural gas pipelines to install local distribution systems and have them supplied with stored LNG.

The formula has been widely used in Asian LNG SPAs, where base price represents various non-oil factors, but usually a constant determined by negotiation at a level which can prevent LNG prices from falling below a certain level. It thus varies regardless of oil price fluctuation. Oil parity is the LNG price that would be equal to that of crude oil on a Barrel of oil equivalent basis. A coefficient of 0. In , in several spot cargo deals especially in East Asia, oil parity approached the full oil parity or even exceeds oil parity.

Many formulae include an S-curve , where the price formula is different above and below a certain oil price, to dampen the impact of high oil prices on the buyer, and low oil prices on the seller. Most of the LNG trade is governed by long term contracts. When the spot LNG price are cheaper than long term oil price indexed contracts, the most profitable LNG end use is to power mobile engines for replacing costly gasoline and diesel consumption.

In continental Europe, the price formula indexation does not follow the same format, and it varies from contract to contract. Brent crude price B , heavy fuel oil price HFO , light fuel oil price LFO , gas oil price GO , coal price , electricity price and in some cases, consumer and producer price indexes are the indexation elements of price formulas. In some contracts there are two options for triggering a price revision.

Quality regulations serve three purposes: In the case of off-spec gas or LNG the buyer can refuse to accept the gas or LNG and the seller has to pay liquidated damages for the respective off-spec gas volumes. The quality of gas or LNG is measured at delivery point by using an instrument such as a gas chromatograph. The most important gas quality concerns involve the sulphur and mercury content and the calorific value.

Due to the sensitivity of liquefaction facilities to sulfur and mercury elements, the gas being sent to the liquefaction process shall be accurately refined and tested in order to assure the minimum possible concentration of these two elements before entering the liquefaction plant, hence there is not much concern about them. However, the main concern is the heating value of gas. Usually natural gas markets can be divided in three markets in terms of heating value: There are some methods to modify the heating value of produced LNG to the desired level.

For the purpose of increasing the heating value, injecting propane and butane is a solution. For the purpose of decreasing heating value, nitrogen injecting and extracting butane and propane are proved solutions. Blending with gas or LNG can be a solutions; however all of these solutions while theoretically viable can be costly and logistically difficult to manage in large scale. There are several liquefaction processes available for large, baseload LNG plants in order of prevalence: As of January , global nominal LNG liquefaction capacity was The other processes, used in a small minority of some liquefaction plants, include Shell's DMR double-mixed refrigerant technology and the Linde technology.

Philips Cascade process is the second most-used, used in 10 trains with a total capacity of The Shell DMR process has been used in three trains with total capacity of