Asia/Pacific News
KS&T Marks First LNG Ship-to-Ship Transfer in the Philippines
Koch Supply & Trading (KS&T) today announced the completion of the first of multiple and regular ship-to-ship (STS) liquefied natural gas (LNG) transfers with China-based JOVO Group Co., Ltd. (JOVO) and Malaysian ship owner MISC Berhad (MISC) - the first LNG STS transfer in the Philippines.
"This partnership between first class ship owners, industry leading STS service providers and innovative LNG consumers allows companies in developing markets to gain new access to global volumes and a wider variety of logistics and infrastructure players," said Peter Leoni, Director of Trading at KS&T.
The operation was managed by Teekay Marine Solutions, with Teekay and MISC providing their extensive LNG experience to support the transfer.
With cargoes loaded from Australia before being transferred to a smaller vessel at Subic Bay in the Philippines, the LNG cargo will be delivered to JOVO's Chinese terminal where it is distributed by truck to their industrial or commercial customers in Southern China.
"Looking at how the LNG market is developing," said Tim Mendelssohn, LNG freight and operations manager at KS&T.
"We are challenging the existing business model as a problem-solving, solution-oriented agent for LNG ship-to-ship transfers in emerging economies around the globe, reducing barriers to market entry."
Earlier this month, Ship & Bunker reported that Petronas LNG Ltd. and MISC signed an agreement with Gas4Sea to identify potential business opportunities and explore a collaboration on the promotion of LNG as a preferred marine fuel.
