Pollution reduction cited as the main reason behind relocation, but other private terminals nearby could make any move redundant

K Line and its partners have been working on a storage site project since 2022. In September 2023, the consortium agreed with Petronas CCS Ventures to commercialise it. Planning will now take place for the supporting infrastructure. This will include thinking about onshore terminals and transport pipelines, as well as an assessment of the project’s techno-commercial feasibility 

MISC expects softer market conditions for the LNG sector in the near term due to firm fleet growth, while the group will continue to identify growth opportunities for tankers particularly for dual-fuel assets

MOL is working on a second CCUS project in Australia. K Line has brought in strong players to its Malaysian project to inject and store carbon dioxide

The group also announced in-principle settlement agreements with the Brazilian authorities in relation to the Operation Car Wash probe

Hanwha Ocean, formerly known as Daewoo Shipbuilding & Marine Engineering, recently emerged from a takeover exercise, and has signed its biggest single contract in 16 years. The company is trying to turn itself around, but still posted an operating loss of Won197bn in 2023