High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Today’s ship photos come to us from shipowner Teekay showing the LNG carrier Oak Spirit transiting the Panama Canal with the first cargo of U.S. shale gas destined for Japan.
The Oak Spirit was delivered to Teekay August, joining its sister vessel Creole Spirit as the second M-type, Electronically Controlled, Gas Injection (MEGI)-Type LNG carrier in the world.
Oak Spirit is now operating under its 5-year fee-based charter contract to Cheniere Energy, lifting volumes from Cheniere’s Sabine Pass LNG export facility alongside the Creole Spirit.
“The successful delivery from the yard and commencement of charter contracts of this vessel is an important milestone for Teekay LNG Partners (TGP) as we continue to focus on executing on our committed growth projects. We currently have seven more vessels of this kind in various stages of build at DSME – including the Torben Spirit. Two additional LNG MEGI newbuildings will be built at the Hyundai Heavy Industries shipyard,” Teekay said in August.
After making the transit seen in these photos, the Oak Spirit headed for Japan where it delivered the first-ever shipment of U.S. shale gas to the country last week.
I like these photos because not only are LNG carriers in the Panama Canal a new occurrence, but also because these aerial shots give you a really good look at the water-saving basins that allow the Panama Canal to recycle as much as 60 percent of the water used in the operation of the new locks.
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