A company spokesman said such a move may be part of a business plan to be announced later in the day, but did not comment on the projected cost or when the facility would start operations. The investment was projected to top 100 billion yen ($1.1 billion) and the facility is likely to start operations in the latter half of the next decade. The move under consideration comes as Tokyo Gas, a major provider of natural gas to Tokyo and the surrounding regions, projects a steady shift in the industrial sector to environment-friendly natural gas from coal or fuel oil. The company's industrial gas sales have risen an average 7 percent per year since the 2003/04 business year, and such sales has been gradually rising to account for 40 percent of all gas sales in the past two business years. Japan is the world's top consumer of LNG -- natural gas cooled to liquid form for transport on tankers.
Sunday, February 1, 2009
Japan's Tokyo Gas may build LNG receiving terminal
Tokyo Gas Co, Japan's biggest natural gas utility, said it may build a liquefied natural gas receiving terminal in Hitachi, northeast of Tokyo, to meet projected growth from the industrial sector.
A company spokesman said such a move may be part of a business plan to be announced later in the day, but did not comment on the projected cost or when the facility would start operations. The investment was projected to top 100 billion yen ($1.1 billion) and the facility is likely to start operations in the latter half of the next decade. The move under consideration comes as Tokyo Gas, a major provider of natural gas to Tokyo and the surrounding regions, projects a steady shift in the industrial sector to environment-friendly natural gas from coal or fuel oil. The company's industrial gas sales have risen an average 7 percent per year since the 2003/04 business year, and such sales has been gradually rising to account for 40 percent of all gas sales in the past two business years. Japan is the world's top consumer of LNG -- natural gas cooled to liquid form for transport on tankers.Read More
A company spokesman said such a move may be part of a business plan to be announced later in the day, but did not comment on the projected cost or when the facility would start operations. The investment was projected to top 100 billion yen ($1.1 billion) and the facility is likely to start operations in the latter half of the next decade. The move under consideration comes as Tokyo Gas, a major provider of natural gas to Tokyo and the surrounding regions, projects a steady shift in the industrial sector to environment-friendly natural gas from coal or fuel oil. The company's industrial gas sales have risen an average 7 percent per year since the 2003/04 business year, and such sales has been gradually rising to account for 40 percent of all gas sales in the past two business years. Japan is the world's top consumer of LNG -- natural gas cooled to liquid form for transport on tankers.
Port of Tacoma 2008 cargo volumes reflect global economic conditions
The US Port of Tacoma has prided itself on faring better than most other US West Coast ports, however the port’s 2008 cargo volumes have reflected global economic conditions, and the port has witnessed a fall in cargo volumes due to lower consumer demand and shipping.
While the total tonnage was up 3.6 percent at 20.3 million tonnes, containerized cargo was down 3.3 percent to 1.86 million TEU, breakbulk cargo was down 4.1 percent to 118,523 tonnes and auto units were down 9.1 percent to 159,079 units. There was a significant 13.6 percent in grain volume at 6.69 million tonnes. While cargo volumes declined in 2008, the Port of Tacoma Deputy Executive Director John Wolfe said that the Port's financial performance remained strong. The Port closed 2008 with US$99.1 million in operating revenue, a 1.3 percent increase over 2007 performance. Port of Tacoma Commission President Clare Petrich said the Port of Tacoma is working to plan and build the facilities and infrastructure that will be needed to keep the Port competitive in the future. She said that the current economic climate provided a good period for Port redevelopment and infrastructure investment. “Ports are much more than crossroads in the global supply chain, they are economic drivers for the communities that they serve," she said.
While the total tonnage was up 3.6 percent at 20.3 million tonnes, containerized cargo was down 3.3 percent to 1.86 million TEU, breakbulk cargo was down 4.1 percent to 118,523 tonnes and auto units were down 9.1 percent to 159,079 units. There was a significant 13.6 percent in grain volume at 6.69 million tonnes. While cargo volumes declined in 2008, the Port of Tacoma Deputy Executive Director John Wolfe said that the Port's financial performance remained strong. The Port closed 2008 with US$99.1 million in operating revenue, a 1.3 percent increase over 2007 performance. Port of Tacoma Commission President Clare Petrich said the Port of Tacoma is working to plan and build the facilities and infrastructure that will be needed to keep the Port competitive in the future. She said that the current economic climate provided a good period for Port redevelopment and infrastructure investment. “Ports are much more than crossroads in the global supply chain, they are economic drivers for the communities that they serve," she said.
Q3 FY08-09 net profits down for GE Shipping
Mumbai: Indian shipowner Great Eastern Shipping has announced a 17.9% decrease to net profits for Q3 FY 2008-09 to Rs.2.4bn, in spite of a 12% quarter-on-quarter increase to total income during the period.
However, the company has stated that its operating profits remained resilient and stayed “marginally positive”. GE Shipping’s freight and charter hire income was higher by 16% for the period, despite the fact that operating revenue days for the quarter were down by 12.8%. The earnings of the crude carrier fleet contributed to this in particular, with showing a 60% increase, while product tanker earnings were up 19%. However dry bulk earnings showed a substantial decrease, dropping by 32% for the quarter as compared to the same time in FY07-08. “The tanker market has surprised most observers by continuing its strong streak. This was largely aided by the fact that there was a large contango in the oil prices, which caused a substantial demand for storage by some large oil trading companies,” GE Shipping said in a statement. The company expects the tanker market to be volatile in the coming months, with OPEC cuts, winter delays and oil prices expected to effect demand and reduce rate predictability.Read More
However, the company has stated that its operating profits remained resilient and stayed “marginally positive”. GE Shipping’s freight and charter hire income was higher by 16% for the period, despite the fact that operating revenue days for the quarter were down by 12.8%. The earnings of the crude carrier fleet contributed to this in particular, with showing a 60% increase, while product tanker earnings were up 19%. However dry bulk earnings showed a substantial decrease, dropping by 32% for the quarter as compared to the same time in FY07-08. “The tanker market has surprised most observers by continuing its strong streak. This was largely aided by the fact that there was a large contango in the oil prices, which caused a substantial demand for storage by some large oil trading companies,” GE Shipping said in a statement. The company expects the tanker market to be volatile in the coming months, with OPEC cuts, winter delays and oil prices expected to effect demand and reduce rate predictability.
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