POSIDONIA 2014 – hosts POSEIDON MED project…

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The exhibition will be strongly attended by the global owners and their technical and operations management, refurbishing and expanding their fleets. The massive renewal of the Greek fleet continues with a multi-billion dollar upgrade that will see the average age of the oceangoing Greek fleet dropping to near 10 years.

The order book topped 110 units in 2012 worth near $7bn. In all, at the beginning of 2013 over 80 Greek companies had some 370 ships of over 32mdwt on order. This includes 40 gas carriers, giving Greek ship owners control of 46% of the current LNG order book.

Posidonia 2014 is the opportunity for all players in world shipping to meet and review challenges, opportunities, trends and innovations with the operators of more than 4,000 vessels approaching 260m tonnes carrying capacity – and increasing.

This year one of the worldwide major projects for the shipping industry is going to be presented at the Posidonia 2014… The ‘’POSEIDON-MED’’ LNG Bunkering Project.

What is the ”POSEIDON-MED” project?

POSEIDON-MED is the first LNG bunkering project in the Mediterranean and Adriatic Sea led and coordinated by QENERGY Europe. It is the first Cross European Border project which aims to introduce LNG as the main fuel for the world shipping industry and develop a sufficient infrastructure network of bunkering value chain.

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Geographical exposure of POSEIDON MED

 

The POSEIDON-MED’s ultimate aim is to prepare in detail a comprehensive implementation plan for the LNG Bunkering, so that Liquefied Natural Gas (LNG) can be widely adopted as marine fuel for shipping operations. To that end, POSEIDON-MED is designing the LNG transportation, distribution, supply network and infrastructure, defining the framework for a well-functioning and sustainable relative market (vessels) for its demand.

The origin of LNG will be the State of Qatar, which is the world’s largest LNG producer. QENERGY is a business Partner with Qatar Petroleum International and it holds a supply agreement with Ras Laffan Liquefied Natural Gas Company Limited – RL3.

POSEIDON-MED has a fivefold target for the establishment of a comprehensive LNG network in the East Mediterranean area, the development of a sustainable market for LNG as marine fuel, the revival of dying shipping in the area, and the increase in fleet competitiveness, efficiency, and sustainability.

At the same time it will provide substantial environmental benefits, meeting the forthcoming stricter environmental regulations, and allowing easy compliance with the most recent EU directives.

Getting support from many European Governments, EU/Mediterranean Port Authorities, the Mediterranean & Adriatic shipping industry, the largest LNG Producer, Global Investors, EU & Greek banking sector, Classified Organizations, LNG/Maritime/Shipping Experts & Consultants, the

POSEIDON-MED project has been successfully submitted to the EU (MoS, TEN-T) for approval and co-funding.