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Gunvor Group and Solvang form JV to own and operate 5 next generation Panamax VLGCs

5 October 2023 Newbuildings will be carbon capture ready GENEVA (5 October 2023) – Gunvor Group Ltd (“Gunvor”) and Solvang ASA (“Solvang”) have formed a Joint Venture (“JV”) to own and operate next generation eco-vessels for the Liquefied Petroleum Gas (LPG) market. The JV has placed an order for five VLGC newbuilds from Hyundai Heavy […]

Waste residues

**Waste Residues** Waste residues refer to the remaining substances that are left over after a primary manufacturing or consumption process. In the context of energy commodities, these residues often comprise organic materials like agricultural byproducts, forestry trimmings, or industrial biproducts such as scrap wood, sawdust, or peels, which can be converted into a source of […] Read More

Viscosity graded bitumen

Viscosity Graded Bitumen Viscosity graded bitumen is a classification of asphalt based on the viscosity of the asphalt at a specific temperature. The viscosity, which is a measure of a fluid’s resistance to flow, is an important characteristic that determines the performance of bitumen as a binder in road constructions. The higher the viscosity, the […] Read More

Vacuum Gas Oil

Vacuum Gas Oil (VGO) is a type of intermediate feedstock derived from crude oil refining. It is produced during the vacuum distillation process, which occurs after the initial atmospheric distillation of crude oil. During this stage, heavier oils left over from the initial distillation are further separated under high vacuum conditions at low temperatures. VGO […] Read More

Very Large Crude Carrier

A Very Large Crude Carrier, or VLCC, is a classification of large tanker ships specially designed to transport crude oil. They are an integral part of the global maritime logistics system that moves large quantities of unrefined crude oil from extraction locations to refineries worldwide. VLCCs are among the giants of the sea, with deadweight […] Read More

Vessel berthing

Vessel Berthing Vessel berthing refers to the process by which ships are brought alongside a dock or jetty to be securely moored for the purposes of loading or unloading cargo, embarking or disembarking passengers, refueling, or carrying out maintenance and repairs. The berthing process involves careful maneuvering by the ship’s crew, often with the assistance […] Read More

Upstream

Upstream refers to the exploration and production segment of the oil and gas industry. The upstream sector includes all activities related to searching for potential underground or underwater crude oil and natural gas fields, drilling of exploratory wells, and subsequently operating the wells that recover and bring the crude oil and/or raw natural gas to […] Read More

Transesterification

### Transesterification: Transesterification is a chemical process in which a triglyceride (fat/oil) reacts with an alcohol, typically methanol or ethanol, in the presence of a catalyst to form esters and glycerol. In the context of energy commodities, transesterification is commonly associated with the production of biodiesel, where vegetable oils or animal fats are converted into […] Read More

Time-charter vessels

**Time-Charter Vessels** In the energy commodities trading sector, time-charter vessels refer to a method of chartering ships where the shipowner leases the vessel to a charterer for a specified period. The charterer has control over where the vessel goes and what it carries, as long as the agreed-upon route is followed and the cargo is […] Read More

Tanker vessels

Tanker vessels, also commonly referred to as tankers, are large ships designed to transport vast quantities of liquids or gases in bulk. Predominantly, these vessels are used for carrying petroleum products such as crude oil, gasoline, diesel, and jet fuel, but they can also transport chemicals, vegetable oils, and other liquid commodities. Tanker vessels come […] Read More

Synergies

Synergies refer to the combined effect achieved by multiple elements, such as companies, systems, or processes, working together that is greater than the sum of their individual effects. In the context of energy commodities trading and business at large, synergies often arise from merging or collaborating businesses where the result is an increase in performance […] Read More

Syndicated trade finance facilities

Syndicated trade finance facilities refer to a form of finance where a group of financial institutions, usually banks, work together to provide a borrower with a credit facility for trading goods or commodities. This type of financing is often required for larger transactions or projects that may be too sizable or risky for a single […] Read More

Sulphur

Sulphur, often spelled sulfur in the United States, is a chemical element with the symbol S and atomic number 16. Recognizable by its bright yellow color when in crystalline form, sulphur is a non-metal and is abundant and versatile. It’s an essential element for all life and is found in amino acids, which are the […] Read More

Supply chain

Supply chain refers to the network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers. In the context of energy commodities, the supply chain encompasses all the stages ranging from the extraction of raw materials (such as oil, natural gas, or coal), transport, refining, storage, and distribution […] Read More

Structured financing capabilities

**Structured Financing Capabilities** Structured financing refers to the sophisticated and intricate financial instruments and techniques used for the purpose of mitigating complex financing problems not easily addressed by standard financial solutions. It involves the use of financial engineering to create customized arrangements that fulfill specific needs related to risk management, funding, and asset securitization for […] Read More

Solar

Solar In the context of energy commodities and power generation, “solar” refers to the utilization of energy from the sun to produce electricity or heat. This process is harnessed through various technologies, most notably photovoltaic (PV) cells or solar panels, which convert sunlight directly into electricity. Another method is concentrated solar power (CSP), which uses […] Read More

Self-liquidating

Self-liquidating is a term used in finance and trading to describe a transaction or investment that generates sufficient cash flow to repay or justify the initial capital outlay. In the context of energy commodities trading, this term can refer to a financing arrangement where the sale proceeds of the commodity are used to pay off […] Read More

Renewable Energy Directive (REDII)

Renewable Energy Directive (REDII) refers to the European Union’s directive (2018/2001/EU), which is a revision of the initial Renewable Energy Directive (2009/28/EC). REDII sets out a common framework for the promotion of energy from renewable sources. It came into force on December 24, 2018, and it establishes an EU-wide renewable energy target of at least […] Read More