WASHINGTON/JEDDAH, Saudi Arabia (REUTERS) – US President Donald Trump accused Opec on Friday of “artificially”boosting oil prices, drawing rebukes from some of the world’s top energy exporters.

“Looks like Opec is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!” Trump wrote on Twitter.

It was unclear what triggered the tweet, Trump’s first mention of OPEC on social media during his term.

S oil prices are near a three-year high, at close to US$70 a barrel, and have been rising since Opec and non-Opec producers including Russia cut supply in January 2017 to end a global oil glut and price collapse.

Trump’s tweet came shortly after officials from top oil exporter Saudi Arabia said they would like to see prices climb even higher and that they were still far from their goal of ending the supply glut.

The cartel is expected to restrain supply through the end of this year, and possibly into 2019.

Three Saudi officials told Reuters this week they would be happy to see oil hit US$80 or US$100 a barrel. Higher prices drive up gasoline prices for motorists worldwide and rising energy costs feed inflation. But higher oil prices have also benefited the US energy industry, feeding rapid growth in output from shale fields. US oil output is at record levels.

Despite Trump’s comments, oil benchmarks ended the day modestly higher, rebounding from early losses.

Several members of the Organisation of the Petroleum Exporting Countries (Opec) responded to the tweet, saying prices were not artificially inflated.

Delegates at an Opec/non-Opec monitoring committee meeting in Jeddah, Saudi Arabia said oil prices were higher partially because of global political tensions, mentioning sanctions on Venezuela, threats to the Iran nuclear agreement, strikes on Syria and sabre-rattling over North Korea.

Opec secretary-general Mohammed Barkindo said the output cut agreement halted the collapse in global oil prices, and is “on course to restore stability on a sustainable basis in the interest of producers, consumers and the global economy.”

“We don’t have any price objective in Opec, and not in this joint endeavour with non-Opec,” Barkindo said on Friday (April 20), in response to Trump’s tweet.

The group is next slated to meet in June to discuss output policy. Ministers from both Iraq and the United Arab Emirates also disagreed with Trump on Friday, with Iraqi Oil Minister Jabar al-Luaibi saying prices are “not very high” and that the market is stabilising.

Trump gave no details on what action his administration might take regarding oil or Opec, and the White House did not respond to elaborate on the issue on the record.

“We have a difficult time seeing how Opec would in any way be swayed here in terms of changing course, in terms of policy,”said Michael Tran, commodity strategist at RBC.

Opec’s output fell in March to an 11-month low, according to a Reuters survey. The cartel has targeted the five-year average of inventories in 35 Organisation for Economic Cooperation and Development (OECD) countries as a barometer for the deal’s success.

As of mid-April, those inventories were 2.85 billion barrels, or 43 million more than the five-year average; a year ago, it was 268 million barrels above that benchmark.

This week, crude futures benchmarks Brent and U.S. West Texas Intermediate (WTI) hit their highest since November 2014, with Brent touching US$74.75 and US crude US$69.56 per barrel.

That has raised fuel costs, with average US prices for gasoline hitting US$2.75 a gallon on Wednesday, according to motorist advocacy group AAA, up more than 30 cents from a year earlier and at their highest since July 2015.

Trump is “just trying to relate to his base when it comes to the retail gasoline prices, so he’s blaming Opec for this,” said Josh Graves, senior market strategist at RJO Futures in Chicago.

Beyond Opec’s supply management, crude prices have been supported by expectations that Washington will re-introduce sanctions on Opec-member Iran, and might expand sanctions against Venezuela after that country’s presidential election next month.

“If one concern about reinstating sanctions on Iranian oil is the impact that it could have on oil prices, then it could be a preemptive measure to blame Opec instead,” said Antoine Halff, senior research scholar at the Centre on Global Energy Policy at Columbia University.

Hedge funds and other speculators hold a record level of bullish bets on Brent, on expectations of further price rises.

The US government cannot legally influence oil prices other than through releasing oil from its strategic reserve which it does occasionally.

This year’s budget agreement includes the sale of about 100 million barrels of crude oil – about 15 per cent of the reserve – as US oil production recently hit a record at more than 10 million barrels a day. That release is not related to high oil prices, and analysts said it signalled Washington was not concerned about the potential for future global shortages.

“Washington has fully given up this idea of scarcity. You don’t get to the point of selling your strategic reserves to balance your budget if you think the world is short,” said Kevin Book, managing director at Clearview Energy Partners.

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SINGAPORE (Apr 20): As global growth takes off and technology reshapes the economies of Singapore and the rest of Southeast Asia, demand for logistics properties is shifting.

Not only is the volume of goods that need to be moved rising, but a growing proportion of this merchandise is headed directly to the doorsteps of customers instead of the shelves of big department stores, because of e-commerce.

In fact, reflecting the growing importance of e-commerce to Singapore’s economic growth, the Department of Statistics has just begun releasing data on online shopping trends. In February, online purchases topped $144.3 million and accounted for 3.9% of overall retail sales.

The growth rate of online shopping in Southeast Asia, a region with a combined population of 620 million and an economy of US$2.6 trillion ($3.4 trillion), is forecast to outpace that in China. About 100 million people in the region are already shopping online, racking up total sales of US$11 billion last year.

As the region’s middle-class population comes of age, e-commerce sales is estimated to hit US$88 billion by 2025, growing 32% each year, according to a report by Google and Temasek Holdings late last year.

As such, some market watchers see recovering demand for logistics assets and a growing need for modern facilities tuned for the needs of e-commerce players attracting more investment into the logistics space and driving up the valuations of these assets.

Is there a way for ordinary investors to participate in the growing demand for logistics assets and the e-commerce boom?

According to some analysts, the bigger logistics REITs, such as Singapore’s Ascendas REIT and Australia’s Goodman Group, are trading at full value. Nevertheless, some of these larger players could be interesting if they manage to make astute acquisitions.

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TOKYO (Reuters) – The Panama Canal may carry five times as much LNG in 2020 as it did last year as production of the fuel expands in the US and Asian import demand rises.

LNG volumes traversing the Canal could hit 30 million tpy before the end of 2020, who leads the Panama Canal Authority, up from 6 million tpy.

Demand for LNG has risen significantly in the last three years as the increase of supply, especially from onshore shale fields in the US and offshore reserves in Australia, has made it more competitive. Many countries including China have also been switching to gas more rapidly than expected, away from dirtier coal, for environmental reasons.

The US has only one LNG export facility, at Sabine Pass in Louisiana, which exports via the Panama Canal mostly to North Asia and the Pacific coast of Latin America.

But shipments are expected to surge over the next few years as several US LNG projects are under construction, with total US capacity slated to reach nearly 70 million tpy, up from 18 million t in 2017.

“Right now on average, we’re running six (LNG) vessels per week, but in the very near future, you will have several plants exporting and that starts to add up,” Quijano said in an interview.

US LNG exports through the canal are set to rise to as much as 11 million t this year and to around 20 million t in 2019.

Reflecting a quickening in traffic, three gas tankers transited the Canal in a single day for the first time on 17 April. And since June 2017, there have been 15 days in which two LNG ships passed through the Canal in a 24-hour period.

Shipments of LNG through the Panama Canal began to rise after a third set of locks was added in 2016, and the authority projects growing demand for the supercooled fuel will boost such transits through the early part of the 2020s.

The Canal is already looking beyond the next few years to adding a fourth set of locks, which would serve a new generation of even bigger ships.

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JAKARTA (REUTERS) – Indonesia’s State Owned Enterprise Ministry has removed Pertamina chief executive Elia Massa Manik in a management shakeup after a series of problems at the state-owned energy company, including a recent oil spill and slow progress on refinery developments, a ministry official said on Friday (April 20).

Nicke Widyawati, Pertamina’s director of human resources, will serve as acting chief executive until a formal replacement is nominated, Deputy State Owned Enterprise Ministry Fajar Harry Sampurno told reporters at a press conference.

Manik was among five Pertamina directors replaced in the leadership shakeup.

Another shareholder meeting next week will likely result in further management changes at gas utility Perusahaan Gas Negara (PGN), which Pertamina took over last week, Sampurno added.

“With recent developments including the accident with the pipe in Balikpapan and fuel shortages, the commissioners conducted a very comprehensive study of implementation over the past month,” Sampurno said, referring to the leadership changes.

“With these new directors, it will accelerate the refinery projects in the refinery development master plan,” he added.

The decisions, made in consultation with Pertamina’s board of commissioners, would “strengthen and accelerate implementation” of Pertamina’s transition to an energy holding company, Sampurno said.

Pertamina now has directors of corporate marketing, retail marketing and infrastructure, chairman Tanri Abeng said.

Pertamina recently faced criticism over its handling of the 40,000-barrel oil spill near its refinery operations on Borneo island, and for failing to meet government mandates on fuel sales.

Indonesia, one of Southeast Asia’s biggest fuel importers, hopes to reduce its import bill by improving its ageing domestic refining infrastructure, but some projects have been delayed because of financing issues.

Pertamina’s finances have been hurt in recent years due to government-controlled gasoline and diesel prices that have been held below market levels.

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• Maersk, APL, Hyundai race to build paperless cargo system
• Adoption of blockchain could generate $1 trillion in trade

Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents.

That last throwback to 19th century trade is about to fall. A.P. Moeller-Maersk A/S and other container shipping lines have teamed up with technology companies to upgrade the world’s most complex logistics network.

The prize is a revolution in world trade on a scale not seen since the move to standard containers in the 1960s — a change that ushered in the age of globalization. But the undertaking is as big as the potential upheaval it will cause. To make it work, dozens of shipping lines and thousands of related businesses around the world — including manufacturers, banks, insurers, brokers and port authorities — will have to work out a protocol that can integrate all the new systems onto one vast platform.

Should they succeed, documentation that takes days will eventually be done in minutes, much of it without the need for human input. The cost of moving goods across continents could drop dramatically, adding fresh impetus to relocate manufacturing or source materials and goods from overseas.

“This would be the biggest innovation in the industry since the containerization,” said Rahul Kapoor, an analyst at Bloomberg Intelligence in Singapore. “It basically brings more transparency and efficiency. The container shipping lines are coming out of their shells and playing catch-up in technology.”

The key, as in so many other industries, from oil tankers to cryptocurrencies, is blockchain, the electronic ledger system that allows transactions to be verified autonomously. And the benefits wouldn’t be confined to shipping. Improving communications and border administration using blockchain could generate an additional $1 trillion in global trade, according to the World Economic Forum.

APL Ltd., owned by the world’s third-largest container line CMA CGM SA, together with Anheuser-Busch InBev NV, Accenture Plc, a European customs organization and other companies said last month that they’ve tested a blockchain-based platform. South Korea’s Hyundai Merchant Marine Co. held trial runs last year using a system developed with Samsung SDS Co.

The shipping paper trail begins when a cargo owner books space on a ship to move goods. Documents need to be filled in and approved before cargo can enter or leave a port. A single shipment can require hundreds pages that need to be physically delivered to dozens of different agencies, banks, customs bureaus and other entities.

Trail of Roses

In 2014, Maersk followed a refrigerated container filled with roses and avocados from Kenya to the Netherlands. The company found that almost 30 people and organizations were involved in processing the box on its journey to Europe. The shipment took about 34 days to get from the farm to the retailers, including 10 days waiting for documents to be processed. One of the critical documents went missing, only to be found later amid a pile of paper.

“The paperwork and processes vital to global trade are also one of its biggest burdens,” according to Maersk, the world’s largest container shipping company, which has teamed up with International Business Machines Corp. to enable real-time tracking of its cargo and documents using blockchain. “The paper trail research that Maersk did uncovered the extent of the burden that documents and processes inflict on trade and the consequences.”

That plethora of paper processors has been one of the reasons shipping has lagged behind other industries in moving to electronic forms. The variety of different languages, laws and organizations involved in moving cargoes in the past made standardization a slow process.

Instead the industry has relied on advances in transport technology and cargo handling to improve efficiency, with the great Clipper sailing vessels replaced by steamships and then modern oil-powered leviathans – the largest ships on the oceans. In the 1850s, it took more than three months to move chests of tea from southern China to London. Today, that journey would take about 30 days.

The biggest change came in the 1960s, when the industry adopted the standard-size steel boxes in use today, replacing the wooden crates, chests and sacks that stevedores had hauled on the docks for centuries.

With these containers sometimes holding products from different suppliers, and ship cargoes sometimes ending up with thousands of customers in dozens of countries, the transition to a uniform electronic system presents major challenges.

“Not all stakeholders are looking at deploying the same blockchain solution and platforms,” APL said in response to questions. “This can pose as a challenge if stakeholders are expected to trade via a common platform or solution.”

And the shipping lines will also need to persuade the ports and other organizations involved in cargo trading to adopt their systems. Maersk said Singapore-based port operator PSA International Pte. and APM Terminals, based in The Hague, Netherlands, will use its platform. APL and Accenture said they plan to pilot their product by the end of this year. Accenture said it has tested its technology with other pilot shipments that range from beer to medical supplies.

The cost savings could be visible in the companies’ financial statements in about two years, Kapoor of Bloomberg Intelligence said.

“Shipping needs to stop thinking about itself as this standalone middle sector,” said K D Adamson, chief executive officer of Futurenautics Group. “It needs to start thinking about how the different elements of shipping fit into other ecosystems.”

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(Bloomberg) — Oil edged higher after an industry report showed U.S. crude stockpiles and supplies at the nation’s largest storage hub both declined.

Futures in New York climbed from the settlement Tuesday after the American Petroleum Institute was said to have reported U.S. crude inventories tumbled 1.05 million barrels last week. Supplies at the Cushing, Oklahoma hub decreased for the first time since early March.

“It shows an underlying bullish U.S. supply-demand balance, despite the record production,” said Kyle Cooper, director of research at IAF Advisors in Houston. “It shows a bullish supply-demand balance globally for petroleum and that typically tends to support the market.”

Prices also gained during the session amid optimism that a Friday producer meeting may lead to talks on an OPEC deal extension, in the midst of comments from Kuwait that producers will discuss prolonging their deal to reduce output into 2019.

Energy ministers from Saudi Arabia, Russia, the United Arab Emirates, Oman, Algeria, Kuwait and others will attend a meeting Friday of a joint ministerial monitoring committee in Jeddah, according to a person familiar with the matter.

The confab comes at a time when the U.S. is pumping oil at unprecedented levels. Production from the world’s most prolific crude play, the Permian Basin, is expected to set new records as drillers keep adding more wells.

Chatter on Cuts

“You’re also getting chatter that the OPEC members are considering extending the cuts. You should start to see some support soon,” said Gene McGillian, a market research manager at Tradition Energy in Stamford, Connecticut.

West Texas Intermediate for May delivery traded at $66.65 a barrel at 4:39 p.m. after settling at $66.52 a barrel on the New York Mercantile Exchange. Total volume traded Tuesday was about 12 percent above the 100-day average.

Brent for June settlement rose 16 cents to end the session at $71.58 a barrel on the London-based ICE Futures Europe exchange. The global benchmark crude traded at a $5.07 premium to June WTI.

Yuan-denominated futures for September delivery slid 0.7 percent to 425.1 yuan a barrel on the Shanghai International Energy Exchange.

OPEC and allied producers including Russia will consider maintaining their production limits beyond the end of the year when they meet in June to assess the market, Kuwait Oil Minister Bakheet Al-Rashidi said.

The API was also said to report that Cushing inventories fell 1.02 million barrels, while both gasoline and distillate supplies also shrank.

In the U.S., crude stockpiles probably rose by 650,000 barrels last week, according to the median estimate in the Bloomberg survey before government data is released on Wednesday. Stocks in Cushing, Oklahoma, the delivery point for WTI futures, probably shrank by 650,000 barrels last week after rising for five weeks through April 6.

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SYDNEY, April 17 (Reuters) – Australia’s Northern Territory on Tuesday lifted a nearly two-year moratorium on fracking to extract gas, unlocking vast onshore reserves in the resource-rich region and raising the possibility of other provinces following suit.

The Northern Territory (NT), a 1.4 million sq km (540,000 sq miles) expanse of outback extending from the centre of Australia to its northern coastline, had banned hydraulic fracturing, commonly known as fracking, in September, 2016 amid concerns the drilling method could harm the environment.

It commissioned an inquiry into the environmental, social and economic risks of the extraction process and on Tuesday accepted the inquiry’s conclusion that the risks were manageable.

“The moratorium on fracking in the Northern Territory will be lifted, with strict new laws to be in place before exploration or production can occur,” Chief Minister Michael Gunner told reporters in the Territory’s capital, Darwin.

The announcement, which drew criticism from environmentalists, reopens shale gas reserves in the Beetaloo and McArthur basins for development. It immediately sent shares in commodity explorers in the region sharply higher, even though production is not expected to begin for about a decade.

It also raised industry hopes for pushing Australia, with 88 trillion cubic feet of identified unconventional gas reserves, like the United States before it towards energy self-sufficiency if blocks on fracking were lifted elsewhere in the country.

Origin Energy Ltd said it would resume plans “as soon as practical” to drill and frack the Beetaloo Basin shale gas field, which it says contains 6.6 trillion cubic feet in contingent reserves. Its shares rose 1.4 percent.

Shares of McArthur basin explorer Empire Energy Group Ltd jumped by two thirds and shares in Armour Energy Ltd , which also holds exploration acreage in the region rose 6.7 percent. The broader market edged higher.

Jemena Ltd, owned by China State Grid Corp Ltd and Singapore Power Ltd, said it now intends to expand the capacity of a gas pipeline linking the Territory with the state of Queensland sevenfold.

“Given the vast geography we are talking about, some significant infrastructure investment will be needed to bring this gas to domestic and international markets,” said Andrew Koscharsky, director for energy at commodity trading house RCMA, which deals in Australian power and gas.

Flashpoint

Tuesday’s announcement lifted industry hopes for an end to fracking bans elsewhere in Australia, where the process has become a flashpoint between a national government desperate to quell rising gas prices and popular environmentalist opposition.

Victoria state has outlawed fracking. New South Wales and Tasmania have introduced moratoriums as has Western Australia in its gas-rich Canning Basin. In South Australia, a newly-elected centre-right government has promised a ban on fracking in the state’s gas-rich southeast.

“There’s been this cascading effect and so one place has a moratorium then the next place has a moratorium,” said Graeme Bethune, chief executive of Energy Quest, an Adelaide-based energy consultancy. “This should cause thoughts by other jurisdictions about moratoria,” he said.

The NT government said it would tightly regulate the industry after lifting the ban. Almost half the territory will remain “frack-free”, including national parks and reserves.

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REUTERS – Asian spot liquefied natural gas (LNG) prices rose this week, pushed up as crude oil surged amid the escalating Syria crisis.

LNG prices rose by 25 cents from last week to $7.25 per million British thermal units (mmBtu), despite falling demand due to the onset of spring in the northern hemisphere.

Traders said the gain was due to rising oil prices, with Brent crude futures this week hitting their highest since late-2014 due to the threat of more conflict in Syria.

Although Syria is not a significant oil producer, the wider Middle East is the world’s most important crude exporter and any strife in the region tends to put markets on edge.

“Oil is by far the world’s biggest energy market. It dictates the direction for most other commodities,” said one trader. “It is particularly important for gas and LNG as many supply contracts are priced off crude.”

Despite the tense oil markets, LNG is in plentiful supply, especially as demand is tapering off in North Asia and Europe due to warmer spring weather.

LNG prices are still down by almost 40 percent from their winter peaks in January.

Weather data in Eikon shows temperatures in the Asian demand centres of Tokyo and Beijing are expected to be slightly above seasonal norms in coming weeks. Seoul is also expected to see mild spring weather.

In Europe, temperatures are forecast to be above the seasonal norm as well, after a long, cold winter came to an end in late March.

Overall, analysts said the LNG market was in good health, with demand rising.

“We continue to like LNG exposure … Market dynamics are supportive of a robust global LNG market,” analysts at Bernstein Research said in a note to clients this week.

“Gas and LNG exposure is one of the key drivers behind many of our Outperform rated stocks e.g. Shell, Total, Statoil, Inpex, Oil Search and Woodside,” the Bernstein analysts said.

Tenders

In physical markets, Asia saw decent activity this week.

China National Offshore Oil Corp (CNOOC) was seeking LNG cargoes for delivery up to 2022, trade sources said.

The company has given options for four different delivery time periods. Delivery of the first LNG cargo under the tender would start from the second half of November this year, with the last supply options running to December 2022.

In Japan, Nippon Steel and Sumitomo Metal Corp was seeking an LNG cargo for June 1, with the tender closing date set for April 17, according to trading sources.

Nippon Steel only tenders for LNG cargoes a few times a year, the sources said.

In South Korea, utility KOMIPO was seeking a cargo for delivery between May 23 and 27 at the Boryeong terminal, with the tender open from April 12 to 13.

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SYDNEY (REUTERS) – Share markets started firmer in Asia on Monday (April 16) amid relief US-led strikes on Syria looked like being a one-off event that avoided a direct confrontation with Russia, weighing on oil prices and safe-haven Treasuries.

EMini futures for the S&P 500 sprang 0.6 per cent higher in early trade, while Japan’s Nikkei added 0.3 per cent.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent.

The United States, France and Britain launched 105 missiles targeting what the Pentagon said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas attack in Douma on April 7.

Russian President Vladimir Putin warned on Sunday that further Western attacks on Syria would bring chaos to world affairs, as Washington prepared to increase pressure on Russia with new economic sanctions.

But with President Donald Trump declaring mission accomplished, investors wagered the worst had been avoided.

“Trump was able to enforce his chemical weapons red line without crossing the threshold for Russian retaliation,” said analysts at JPMorgan in a note.

“Stocks were concerned about a prolonged and expanded US campaign towards Assad and that doesn’t look probable.” Safe-haven assets eased in response, with yields on US 10-year Treasury debt up two basis points at 2.84 per cent.

The US dollar inched up 0.2 per cent on the yen to 107.53 yen, and away from last week’s low around 106.62.

The euro was flat at US$1.2330, while the dollar index was a fraction firmer at 89.803.

In commodity markets, gold dipped 0.1 per cent to US$1,343.70 an ounce, and remained well short of last week’s peak at US$1,365.23.

Oil prices slipped with Brent crude futures off 31 cents at US$72.27 a barrel, while US crude fell 26 cents to US$67.13 a barrel.

Looking ahead, the US earnings season kicks into high gear this week with Thomson Reuters data predicting profits at S&P 500 companies increased by 18.6 per cent in the first quarter from a year ago, their biggest rise in seven years.

Yet with expectations so high, bank shares ran into profit-taking on Friday after a batch of mixed results.

In Asia, China reports its gross domestic product for the first quarter on Tuesday with market forecasts clustered around growth of 6.7 per cent to 6.8 per cent.

The US reports retail sales later Monday and there are around 15 Federal Reserve speakers in the diary for the week.

Also this week, the IMF will hold its annual Spring meetings of central bankers and finance ministers in Washington.

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The delivery of the Ilshin Green Iris, the world’s first LNG-fuelled bulk carrier, has been announced.

The vessel was constructed at Hyundai Mipo Dockyard (HMD) in Korea for Ilshin Logistics and is the result of a project, announced in July 2016, to develop the first in a new generation of environmentally-friendly LNG-fuelled bulk carriers.

A single MAN B&W 6G50ME-GI two-stroke engine powers the 50 000 dwt bulk carrier, which has also been verified to be in compliance with the International Gas Fuel (IGF) Code by Lloyds Register and the Korean Register. The Ilshin Green Iris has been chartered by steelmaker, POSCO, to transport limestone cargoes in the Korean coastal trade.

Bjarne Foldager – ‎Vice President, Sales & Promotion, Two-Stroke Business at MAN Diesel & Turbo – said: “We are very pleased to be part of this exciting project and to see our dual-fuel ME-GI engine win favour in yet another market segment. We look forward to following its progress.”

The Ilshin Green Iris has a Type ‘C’ LNG fuel tank with a capacity of 500 m³ and comprised of a material – high-manganese austenitic steel – newly developed by POSCO that is specially designed for cryogenic LNG and liquefied gas-storage applications.

MAN Diesel & Turbo’s successful ME-GI (-Gas Injection) engine, with over 200 engines ordered, has set a new industrial standard for two-stroke propulsion engines aboard – among others – LNG carriers, container vessels, and now bulk carriers. The ME-GI engine provides ship-owners and operators with a peerless solution within environmentally friendly and high-efficiency, two-stroke technology.

With the ME-GI engine, two-stroke development has taken a step further by combining the unique properties of multi-fuel combustion and the well-known reliability of Man Diesel & Turbo’s ME-engine. The Diesel principle provides the ME-GI engine with high operational stability and efficiency, including during load changes and fuel change-over, while defining properties such as a stable change-over from fuel to gas with no fuel-penalties are maintained. The negligible methane slip of the ME-GI engine makes it the most environmentally friendly, two-stroke technology available.

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