Tag Archives: shipping

Enaex and NYK to explore low-carbon ammonia fuel options in copper concentrate shipping

Enaex says it has signed a memorandum of understanding (MoU) with the international shipping group NYK Bulk & Projects Carriers Ltd (NBP), del Grupo NYK to assess the feasibility of providing low-carbon ammonia as a fuel for ships set to carry copper concentrate.

Over the next decade, NBP plans to build between 10 and 15 Handymax bulk carriers, which will use low-carbon ammonia as their main fuel. The first of these ships is expected to arrive in Chile in 2027, to be used to transport copper concentrate produced by Codelco from Mejillones, in the Antofagasta Region, to countries in the Asian market.

Juan Andrés Errázuriz, CEO of Enaex, said: “Our company’s first value is to care for life and, as part of that commitment, we are concerned about mitigating the impacts on climate change. Therefore, we are constantly working to reduce CO2 emissions and, to date, we have reduced more than 90% of emissions in our production process. Going further along this path, we are now focused on collaborating in the reduction of emissions in the transportation of raw materials.”

According to the MoU, Enaex will have to provide the low carbon ammonia for these vessels, as well as make available for loading the facilities of its terminal in Mejillones, which until now are only used for unloading ammonia.

Errázuriz said: “Our company already has experience in the transport and production of low-carbon ammonia. At our Cachimayo plant in Peru, we are producing green ammonia and we have also imported blue ammonia from the United States.”

According to the new carbon neutrality goals established by the International Maritime Organization, the shipping industry is projected to be one of the largest consumers of low-carbon ammonia in the future.

The understanding agreement was signed Errázuriz, Hitoshi Nagasawa, President of NYK, and Masashi Suda, President of NBP, at Enaex’s offices in Santiago.

Anglo American loads first LNG dual-fuelled vessel in chartered fleet with Kumba iron ore

Anglo American says its newly launched LNG dual-fuelled Capesize+ vessel, the Ubuntu Harmony, has loaded its first cargo of iron ore from its Kumba iron ore operations in South Africa.

The vessel is the first of 10 LNG dual-fuelled new-build ships that Anglo American will introduce to its chartered fleet during the course of 2023 and 2024, delivering an estimated 35% reduction in CO2 emissions compared with ships fuelled by conventional marine oil fuel, the company said. The use of LNG will also lead to a significant reduction of nitrogen oxides and particulate matter from vessel exhausts, while new technology also eliminates the release of unburnt methane.

The Ubuntu fleet is a key component of Anglo American’s ambition to achieve carbon neutrality for its controlled ocean freight by 2040 – with an interim target to reduce emissions from these activities by 30% by 2030 – all part of Anglo American’s wider ambition to halve Scope 3 emissions by 2040.

Peter Whitcutt, CEO of Anglo American’s Marketing business, said: “We are proud to see the Ubuntu Harmony begin its voyage transporting future-enabling products from our mines to our customers around the world. This milestone cements our vision to be a leader in low carbon shipping, a natural extension of our commitment to achieve carbon neutrality across our operations by 2040.”

Nolitha Fakude, Group Director of Anglo American for South Africa, said: “The metals and minerals we provide play an important role in helping key industries decarbonise. Transporting them in a sustainable way is a key part of this effort and the introduction of the Ubuntu fleet – named after the Zulu word meaning ‘humanity to others’ – helps us accelerate our transition to sustainable ocean freight.”

Anglo American has established a framework of initiatives for the decarbonisation of its maritime activities, including energy-saving devices fitted to existing vessels, the use of voyage optimisation software, and a focus on exploring, trialling and adopting alternative, sustainable fuel options – such as LNG, sustainable biofuel, green methanol and ammonia, and – further down the line – hydrogen.

BHP, Pan Pacific Copper and Norespower collaborate on ‘green’ shipping project

BHP has partnered with Pan Pacific Copper (PPC) – a member of JX Nippon Mining & Metals group – and Norsepower, a leading global provider of auxiliary wind propulsion systems, to reduce greenhouse gas (GHG) emissions from maritime transportation between BHP’s mines in Chile and PPC’s smelters in Japan.

The parties are conducting a technical assessment and plan a retrofit installation of wind-assisted propulsion system onboard the M/V Koryu, a combination carrier operated by Nippon Marine – a member of SENKO group (shares held by SENKO 60%, JX Nippon Mining & Metals 40%).

BHP and PPC have multi-year agreements for delivery of copper concentrates from Chile to Japan as well as sulphuric acid from Japan to Chile, making the cargo capacity utilisation of M/V Koryu (a 53,762 deadweight tonne combination carrier) one of the highest in the industry.

Norsepower’s Rotor Sails installation – a “push-button wind propulsion” system estimated to be around ten times more efficient than a conventional sail that requires no reefing or crew attention when in operation – is scheduled for completion by the September quarter of 2023, which is expected to make M/V Koryu the cleanest vessel in its category when measured for greenhouse gas emissions intensity, BHP says.

Norsepower’s Rotor Sails are modernised versions of Flettner rotors, and the technology is based on the Magnus effect that harnesses wind to maximise ship fuel efficiency. When wind conditions are favourable, Rotor Sails allow the main engines to be throttled back, saving fuel and reducing emissions, while also reducing power needed to maintain speed and voyage time, according to BHP.

BHP Chief Commercial Officer, Vandita Pant, said: “Identifying and implementing innovative and sustainable solutions through our strong commodity and supply chain partnerships remain essential in supporting BHP’s decarbonisation ambitions. We look forward to working with PPC on the wind-assisted propulsion system to enable further GHG emissions reduction in our supply chain and add to the already strong partnership between BHP and PPC.”

JX Nippon Mining & Metals Deputy Chief Executive Officer/PPC President, Kazuhiro Hori, said: “PPC and BHP have been sharing the mission to accelerate the activities for decarbonisation in line with our respective climate targets and goals. The Koryu project is a good example of our collaboration and valuable step that proves eagerness by both companies to establish ecosystem partnerships to take on the climate challenge. We are looking forward to further developing the partnership with BHP in various areas.”

Norsepower CSO, Jukka Kuuskoski, said: “Our vision is to set the standard in bringing sailing back to shipping, and empower the maritime industry towards reaching the goal of zero carbon emissions. As fuel prices increase and a carbon levy is initiated, investing in technologies which have proven emissions reductions and fuel savings is essential for long-term commercial success. Working with BHP, PPC and Nippon Marine demonstrates the increased commitment to greener operations, particularly within the bulk carrier market. We look forward to completing the installation and seeing the results.”

This latest partnership with PPC and Norsepower follows BHP’s collaboration agreements in the maritime decarbonisation segment that includes the first marine biofuel trial involving an ocean-going vessel bunkered in Singapore, taking delivery of the first of five LNG-fuelled Newcastlemax bulk carriers and joining a consortium to assess the development of an iron ore Green Corridor between Australia and East Asia. BHP is also a founding member of the Global Maritime Decarbonisation Centre in Singapore.

Vale clears another hurdle in pursuit of lower-carbon fuel adoption in shipping operations

Vale says it has achieved a major advance in the adoption of alternative, lower-carbon fuels for shipping, with the company’s design to incorporate multi-fuel tanks on iron ore carriers having received an Approval in Principle (AIP) from the leading classification society, DNV.

The independent assessment performed by DNV verifies the technical feasibility of the design and indicates that, based on this system, developed in partnership with Norwegian companies Brevik Engineering AS and Passer Marine, vessels chartered by the mining company could be adapted to store fuels as liquefied natural gas (LNG), methanol and ammonia in the future.

The multi-fuel tank design is part of the Ecoshipping program, developed by Vale to adopt new technologies and renew its fleet with the aim of reducing carbon emissions from shipping. A preliminary study for ships of the Guaibamax category estimates that emissions reductions can range from 40-80% when powered by methanol and ammonia, or up to 23% in the case of LNG.

Currently, dozens of second-generation VLOCs (Very Large Ore Carriers) already in operation, with 400,000 t and 325,000 t capacities, have been designed for future installation of an LNG system, including an under-deck compartment to receive a tank with capacity for the entire voyage. Having received the AIP for the multi-fuel tank design, a pilot project will now be developed in the coming months for the implementation of this system on a Guaibamax.

Vale says it has invested heavily to incorporate state-of-the-art efficiency and environmental innovation in the shipping area. Since 2018, the company has been operating second-generation Valemaxes and, since 2019, Guaibamaxes, with capacities of 400,000 t and 325,000 t, respectively. These vessels are among the most efficient in the world and can reduce CO2-equivalent emissions by up to 41% compared with a capesize ship of 180,000 t built in 2011, the company claims.

Vale’s Shipping Technical Manager, Rodrigo Bermelho, said: “The multi-fuel tank system removes some of the main barriers to the adoption of alternative fuels, which include regulatory and infrastructure uncertainty in defining the optimal fuel. It is a solution for the future, but one that could also impact existing ships, many of which have more than 20 years of service life ahead of them. Allied to other energy efficiency technologies in progress at Vale, such as rotating sails and air lubrication, it allows us to have more efficient vessels with very low carbon emissions.”

In addition to adopting alternative fuels, Vale says it has developed innovative energy-efficient technologies: last year, it presented the first ore carrier equipped with rotating sails and the first Guaibamax ship with air lubrication installed. These initiatives are part of Ecoshipping.

Vale has announced investments of up to $6 billion since 2020 to reduce its Scope 1 and 2 emissions by 33% by 2030. The company has also committed to a 15% reduction in Scope 3 emissions by 2035, related to the value chain, of which shipping emissions are part, since the ships are not owned by the company. The targets are aligned with the ambition of the Paris Agreement.

BHP achieves shipping first as it extends funding for steelmaking decarbonisation

BHP has welcomed the arrival of MV Mt. Tourmaline – the world’s first LNG-fuelled Newcastlemax bulk carrier – that will transport iron ore between Western Australia and Asia from 2022.

The mining company has chartered five LNG-fuelled Newcastlemax bulk carriers from Eastern Pacific Shipping (EPS) for five years and awarded the LNG fuel contract to Shell.

On her maiden voyage, the vessel arrived at Jurong Port in Singapore for her first LNG bunkering operation (the process of fuelling ships with LNG) which will take place through the first LNG bunker vessel in Singapore, the FueLNG Bellina. FueLNG, a joint venture between Shell Eastern Petroleum and Keppel Offshore & Marine, operates the bunker vessel.

After LNG bunkering, the 209,000-deadweight tonne vessel will leave for Port Hedland in Western Australia for iron ore loading operations.

BHP Chief Commercial Officer, Vandita Pant, said: “BHP works with our suppliers to embed innovative and sustainable solutions in our supply chain. This vessel delivers significant improvements to energy efficiency and emissions intensity, as well as reduced overall GHG emissions in our value chain. These achievements demonstrate BHP, EPS and Shell’s shared commitment to social value through innovative emissions reduction initiatives.

“These LNG-fuelled vessels are expected to reduce GHG emissions intensity by more than 30% on a per voyage basis compared to a conventional fuelled voyage and will contribute towards our 2030 goal to support 40% emissions intensity reduction of BHP-chartered shipping of our products.”

EPS CEO, Cyril Ducau, said: “Today’s historic LNG bunkering is further evidence that the industry’s energy transition is in full swing. These dual-fuel LNG Newcastlemax vessels are a world’s first, but more importantly, they represent a culture shift in shipping and mining.”

In a separate announcement, BHP confirmed it would extend its partnership with the Centre for Ironmaking Materials Research (CIMR) at the University of Newcastle with a further A$10 million ($7 million) in funding to support ongoing research into decarbonising steelmaking.

The expanded research program will focus on low carbon iron and steelmaking using BHP’s iron ore and metallurgical coal, including conventional blast furnace ironmaking with the addition of hydrogen, and emerging alternative low carbon ironmaking technologies.

The collaboration, with funding from BHP’s $400 million Climate Investment Program, will last five years and help train the next generation of PhD researchers and engineers.

Dr Rod Dukino, BHP VP Sales & Marketing Iron Ore, said: “Greenhouse gas emissions from steelmaking represent around 7-10% of global total estimated emissions and the industry remains one of the most difficult sectors in the world to abate. Research and innovation have a critical role to play in accelerating the industry’s transition to a low carbon future.

“The expanded research program with the University of Newcastle complements BHP’s existing partnerships with our key steelmaking customers in China, Japan and South Korea. We are pursuing the long-term goal of net zero Scope 3 greenhouse gas emissions by 20501. Recognising the particular challenge of a net zero pathway for this hard-to-abate sector, we are continuing to partner with customers and others in the steel value chain to seek to accelerate the transition to carbon neutral steelmaking.”

Anglo American sets carbon-neutral shipping goal

Anglo American has set an ambition to achieve carbon neutrality across its controlled ocean freight activities by 2040, with an interim 30% reduction in emissions by 2030.

This ambition is aligned with the goals of Anglo American’s Sustainable Mining Plan, which include achieving carbon-neutral mining operations by 2040 and an ambition to reduce Scope 3 emissions by 50% by 2040.

Peter Whitcutt, CEO of Anglo American’s Marketing business, said: “Connecting our customers with the metals and minerals they need in a way that is safe, efficient and sustainable is a key priority for us, so our ambition for carbon neutral controlled ocean freight is a natural extension of our commitment to be carbon neutral across our mining operations by 2040.

“Since establishing our shipping desk in 2012, we have built a diverse portfolio and today we transport more than 70 Mt of dry bulk products per year to our customers around the world. We are committed to playing an active role in accelerating the transition to a more sustainable shipping sector, a crucial component in our efforts to extend our positive impact beyond our mine sites. This ambition further cements that commitment and will help us shape a clearer path towards decarbonisation.”

Anglo American has adopted high standards in vessel efficiency across its chartered fleet and is exploring a comprehensive framework of complementary sustainability measures, an approach that will be backed by regular and validated emissions performance reporting, the company said. Vessel retrofits, the use of voyage optimisation software, and support for technology development to help enable the switch from conventional fuel oil to sustainable marine fuels are all part of its efforts to decarbonise ocean freight activities.

In 2020, Anglo American announced the introduction of LNG-fuelled Capesize+ vessels to its chartered fleet, taking advantage of LNG’s ability to incrementally decarbonise shipping. Anticipated environmental benefits include a circa-35% reduction in carbon emissions compared with standard marine fuel, while also using new technology to eliminate the release of unburnt methane, or so-called “methane slip”.

Anglo American is also participating in industry efforts to accelerate the development of alternative low-carbon and zero-carbon fuels.

“We conducted a successful trial using sustainable biofuel, converted from waste cooking oil and used to power a chartered Capesize ship, with the aim to operationalise biofuel into our marine fuel mix,” it said. “We are also part of an industry consortium looking into the viability of green ammonia.”

Recognising the potential of hydrogen in enabling a carbon-neutral pathway for ocean freight, Anglo American recently joined forces with Hydrogenious Maritime AS, a joint venture between Hydrogenious LOHC Technologies, a portfolio company of AP Ventures, and Johannes Østensjø dy AS. The two companies will collaborate to explore the use of emission-free liquid organic hydrogen carrier-based applications on Anglo American’s chartered fleet. Anglo American is also exploring opportunities to align its efforts on the development of zero-carbon fuel for maritime operations to larger hydrogen supply chains in South Africa and Chile.

Anglo American recently joined more than 200 industry players as a signatory of the Call to Action for Shipping Decarbonisation, calling for decisive government action to enable full decarbonisation of international shipping by 2050.

A partner of the Global Maritime Forum, Anglo American was also a founding signatory and an architect of the Sea Cargo Charter – created by some of the world’s largest energy, agriculture, mining and commodity trading companies. The aim of this group is to establish a standard methodology and reporting framework to allow charterers to measure and align their emissions from ocean transportation activities. Anglo American is also a signatory of the Getting to Zero Coalition, an alliance committed to getting commercially viable deep sea zero emission vessels powered by zero emission fuels into operation by 2030.

Anglo American tests out sustainable biofuel in shipping operations

Anglo American says it has successfully trialled the use of sustainable biofuel to power a chartered capesize ship during a voyage from Singapore to South Africa.

The biodiesel blend, produced by converting waste cooking oil from Singapore’s food and beverage industry, reduces carbon dioxide emissions compared with using 100% conventional marine fuel.

Peter Whitcutt, CEO of Anglo American’s Marketing business, said: “Low emission ocean freight is crucial in driving the long-term sustainability of the maritime industry. Shaping an effective transition requires a comprehensive framework of complementary solutions, in which alternative marine fuels have an important role to play.

“We are partnering with like-minded industry players to improve our understanding of factors likely to impact the future scalability of this solution. The success of this trial marks an important step forward in establishing biofuel as a viable option, aligned with circular economic principles. These efforts also reinforce our commitment as an organisation to reduce emissions across the entire value chain, as we work towards carbon neutrality across our operations by 2040.”

The trial conducted onboard the ‘Frontier Jacaranda’, a capesize bulk carrier owned by Japanese shipping company NYK Line, was instrumental in verifying the stability of the biofuel in storage and its performance as a fuel, Anglo said.

Data gathered is providing new insights into wider efforts to introduce biofuel to the maritime sector, paving the way to improving its cost-effectiveness and using higher percentage blends in future trials, the company added. The conversion of waste cooking oil into fuel for transportation aligns with the principles of the circular economy, by providing a fresh and environmentally beneficial use for what would otherwise be disposed of.

Toyota Tsusho Petroleum supplied the biodiesel blend, consisting of 7% biofuel and 93% regular fuel. This combination reduces carbon dioxide emissions by around 5%, is compliant with the International Standard Organisation’s requirement for marine fuels and requires no substantial engine modifications, according to the company.

Anglo American partnered with Singapore firm Alpha Biofuels, which converts waste cooking oil into biofuel, to blend this sustainable biodiesel via shore tanks in Singapore.

Anglo is investigating several ways through which to reduce carbon intensity in its ocean freight operations, including the use of ammonia as an alternative marine fuel, as well as adding capesize+ vessels into its chartered fleet fuelled by LNG which reduces CO2 emissions by approximately 35%.

Rio Tinto cements new Singapore-Western Australia freight shipping route

Rio Tinto says it has secured a new commercial freight shipping service connecting Western Australia’s Pilbara region to the major international shipping hub of Singapore.

The service will provide the company with a quicker, cheaper and cleaner alternative to the existing freight delivery route via Perth, helping to drive regional economic development and local job creation, according to the miner.

The regular freight service commenced with the arrival of the MCP Graz at the Port of Dampier from Singapore today. The vessel delivered essential maintenance supplies for Rio Tinto Iron Ore’s operations in the Pilbara, including rail wagon wheels, wagon parts, oil and lubricants. Future shipments are expected to include tyres for heavy earth moving equipment, conveyor belts, rail wagon and locomotive parts and mining consumables.

The service is also open for use by local businesses in the northwest of Australia, providing companies operating in the region with better access to international markets and more efficient movement of freight, Rio said.

Rio Tinto Iron Ore Managing Director of Port, Rail and Core Services, Richard Cohen, said: “This is an important new service that connects the Pilbara to the rest of the world via the major international shipping hub of Singapore. It will provide a number of benefits by delivering cheaper, cleaner and faster freight to the region.

“It is an important breakthrough not only for our business, but it will also provide a great opportunity for the local Pilbara economy by helping to unlock small business growth and supporting job creation.”

Rio Tinto expects the service to reduce the lead time for goods in to the Pilbara by six to 10 days compared with freight via Fremantle. Additionally, it is expected to provide an annual saving of around three million litres of diesel fuel by reducing road train travel from Perth by more than 3.8 million kilometres.

Over time, Rio Tinto is hopeful more than 50% of its freight requirements to the Pilbara will use this service, increasing the speed of delivery and lowering costs. The vessel capacity of the freight service will be 350 TEUs (twenty-foot equivalent) with Toll Global Forwarding (a division of Toll Group) and other freight forwarders offering a service for smaller volumes on the vessel, the company said.

Peter Stokes, President of Global Logistics for Toll Group, said: “This dedicated container vessel service from Singapore to Dampier will enable enormous possibilities to deliver more efficient supply chains to the Pilbara region.

“Toll Group is heavily invested in the north of Western Australia and is one of the largest employers in the Pilbara region. We are proud to be partnering with Rio Tinto on this landmark project which will provide businesses in the north with a significant opportunity to access international imports and exports.”

Viva Energy, the supplier of fuels and lubricants and supply partner to Rio Tinto, expects to reduce its road transport travel by 350,000 km/y through use of the new service.

Viva Energy Sales Manager, Gavin Syminton, said: “Over and above any commercial benefits, there are also a number of other positive aspects to the initiative including increased opportunities for local employment through infrastructure investment, the reduction of our carbon footprint and a shorter, more efficient supply chain.

“As we continue to work closely with Rio Tinto, we hope to further connect our business and community through this opportunity while making the region a more sustainable place to live.”

Liebherr-Mining cuts emissions, costs with new equipment transport route

Each year, about 1,000 so-called “exceptional” trucks are needed to transport the mining machines assembled by Liebherr-Mining Equipment Colmar SAS to the Belgian seaports to join mine sites around the world in the likes of Australia, Africa and Asia.

In June 2019, the company challenged itself to shift the pre-haulage to the seaports from road to river and, after 18 months of experimentation, the ecological and economical results have proven very positive, with the company deciding to pursue its efforts.

Before starting this project, Liebherr-Mining conducted an in-depth study on the modal shift, 50% financed by Voies Navigables de France (VNF – Inland waterway association) Strasbourg and with the help of an international consulting company. This funding is part of PARM (assistance plan for modal shifts) piloted by VNF and intended to support companies wishing to move to river transport.

Established in Colmar for almost 60 years, the company decided to contribute to the development and competitiveness of the region by working with local firms. Thus, the pre-haulage from the factory to the Rhine port was entrusted to the two Alsatian carriers Straumann (Colmar) and Wack (Obernai and Drulingen). The barging company is Haeger & Schmidt Logistics.

One of the first positive aspects of river transport is the reduction of environmental footprint. For the same amount of goods transported, a barge will consume three to four times less energy than a truck and emit up to five times less CO2, the company claims

By reducing road traffic, noise pollution is also reduced because river transport is a quieter mode of transport.

Over the 18 month trial, Liebherr-Mining Equipment Colmar shipped 148 machines/1,600 packages, or 27,000 t, spread over 60 barges. For the environment, this represented a saving of 800,000 km on the road and 868,000 tonnes of CO2 emissions.

River transportation comes with numerous other advantages. With an almost zero accident rate, the river is a safe mode of transport – the absence of traffic saturation and the presence of loading software guarantee the perfect stability of the boats, Liebherr says.

In terms of deadlines, a machine ready for dispatch on Friday morning can be at the seaport (Antwerp or Zeebrugge) on Monday morning. For many types of goods, if the flow is industrialised and if the company commits to a forecast volume, river transport is also a less expensive solution. Liebherr in Colmar was able to save money thanks to river transport.

This pre-haulage strategy initiated by the mining division has opened up a new path in the Liebherr Group. Other factories in the group are now studying the possibility of following the same path, the company says.

Shell to supply BHP’s LNG-fuelled Newcastlemax bulk carriers

BHP says it has awarded its first LNG supply agreement for five LNG-fuelled Newcastlemax bulk carriers, which will transport iron ore between Western Australia and China from 2022.

Shell has been awarded the contract to fuel the vessels, which BHP will charter from Eastern Pacific Shipping for a five-year term as part of a previously announced arrangement confirmed in September.

BHP Chief Commercial Officer, Vandita Pant, said: “The LNG bunkering contract marks a significant step in how BHP is working with our suppliers to reduce emissions across the maritime supply chain.

“LNG fuelled vessels are forecast to help BHP reduce CO2-e emissions by 30% on a per voyage basis compared to a conventional fuelled voyage between Western Australia and China, and contribute to our 2030 goal to support 40% emissions intensity reduction of BHP-chartered shipping of our products.”

Steve Hill, Executive Vice President, Shell Energy, said: “I would like to congratulate BHP on reducing emissions in their maritime supply chain with the world’s first LNG-fuelled Newcastlemax bulk carriers. Decarbonisation of the shipping industry must begin today and LNG is the cleanest fuel currently available in meaningful volumes.

“This LNG bunkering contract strengthens the bunkering market in the region and we look forward to working with BHP and other customers in the maritime sector on their journey to a net-zero emissions future.”

The contract is the result of a tender process that included potential suppliers across several geographies. Technical capability, available infrastructure and cost competitiveness were among the stringent criteria.

LNG bunkering – the process of fuelling ships with LNG – will take place through the first LNG bunker vessel in Singapore, ‘FueLNG Bellina’. The vessel is operated by FueLNG, a joint venture between Shell Eastern Petroleum and Keppel Offshore & Marine. The bunker vessel will be able to bunker fuel at a rate of 100-1,000 cu.m/h.

“The LNG bunkering contract will enable BHP to manage fuel supply risk, build LNG operational capability internally, and also help to strengthen the emerging LNG bunkering market in the region,” Pant said. “This contract is expected to form up to 10% of forecasted Asian LNG bunker demand in FY2023 (financial year 2023).”