Latest news with #LNG-powered
The Sun
2 days ago
- Automotive
- The Sun
Surging electric truck sales hit diesel use in China
LANGFANG: Electric-powered heavy trucks are rapidly gaining market share in China, driven by subsidies and the quick rollout of chargers, further curbing diesel usage and denting oil demand from the world's biggest crude importer. The boom in electric truck sales in China follows that of electric cars and the rise in recent years of LNG-powered heavy trucks. Those factors, combined with slowing economic growth, have stifled its oil consumption growth. Sales in the world's biggest market for new energy trucks are estimated to have risen 175% year-on-year to 76,100 in the first half of this year, or about a quarter of new truck sales, according to consulting firm Sublime China Information (SCI). Electric models, still mostly used for short-haul runs in ports, mines or steel mills, accounted for over 90% of that increase. The rapid pace has surprised analysts who have revised down diesel demand forecasts as a result and brought forward their predictions for a peak in Chinese oil demand. SCI's analyst Xu Lei said he cut the firm's China diesel demand expectations by 1-2% given the boom in electric truck sales. 'The surge in electric heavy trucks was a surprise and has become a new factor accelerating China's oil consumption to peak, most likely this year,' said Ye Lin, vice president at Rystad Energy, who had previously expected a 2026 peak. The transport sector, which burns about two-thirds of all diesel in China, will use 40% less by 2030, cutting overall diesel consumption by about a quarter compared to 2024 levels, according to Rystad. Diesel consumption this year is forecast to fall by 11.3 million tons, or 6.3%, on par with last year's drop, according to SCI. After more than six years behind the wheel of a diesel truck, Li Shuai, who drives for a cement plant in Hebei province near Beijing, switched to an electric truck six months ago. 'Charging infrastructure has improved noticeably in the past half year, making things much more convenient,' Li, 38, said. 'It is even possible to drive an empty truck more than 2,000km from Beijing to Yunnan to pick up goods without worry.' The rapid buildup of charging infrastructure, primarily through industrial corridors, is underpinning adoption, although charge times that can stretch to 90 minutes and limited charger availability in some areas remain issues. Teld, an EV charging infrastructure provider that has built more than 2,400 truck charging stations across China, officially opened an 800km corridor in March linking Shanxi and Shandong provinces, a key route via the country's coal-producing region. At a charging station next to the Hebei cement plant, car and truck chargers sit side by side in the dusty lot. Owner Yongji Liu had originally only planned to service EVs but said 'the electric truck market is growing so fast that we also installed chargers for trucks'. The booming market for electric trucks is partly due to cheap electricity and government subsidies introduced last July of up to 95,000 yuan (RM56,322) for new vehicles, analysts and truckmakers said. While diesel trucks are cheaper upfront, higher fuel costs make them more expensive after a million kilometers of driving. Once fuel is included, diesel trucks cost about 2.25 million yuan at the million-kilometer mark, roughly 10% more than LNG trucks and 15% more than electric trucks, according to GL Consulting. Rising fuel costs have also eroded some of the price advantage enjoyed by LNG trucks, which along with limited refueling stations in some regions, have hindered their growth, said SCI analyst Wang Neng. SCI forecasts LNG truck sales to hit around 92,000 units in the first half, down 15% from a year earlier, although the surge in electric adoption is more than offsetting the impact on diesel consumption. China's second-best-selling electric truck maker Sany says the growth potential for electric trucks is greater than for passenger EVs because lower operating costs bolster the profitability of corporate users. – Reuters
Time of India
2 days ago
- Automotive
- Time of India
Soaring electric truck sales deal new blow to diesel use in China
Electric-powered heavy trucks are rapidly gaining market share in China, driven by subsidies and the quick rollout of chargers, further curbing diesel usage and denting oil demand from the world's biggest crude importer. The boom in electric truck sales in China follows that of electric cars and the rise in recent years of LNG-powered heavy trucks. Those factors, combined with slowing economic growth, have stifled its oil consumption growth. Sales in the world's biggest market for new energy trucks are estimated to have risen 175 per cent year-on-year to 76,100 in the first half of this year, or about a quarter of new truck sales, according to consulting firm Sublime China Information (SCI). Electric models, still mostly used for short-haul runs in ports, mines or steel mills, accounted for over 90 per cent of that increase. The rapid pace has surprised analysts who have revised down diesel demand forecasts as a result and brought forward their predictions for a peak in Chinese oil demand. SCI's analyst Xu Lei said he cut the firm's China diesel demand expectations by 1 per cent -2 per cent given the boom in electric truck sales. "The surge in electric heavy trucks was a surprise and has become a new factor accelerating China's oil consumption to peak, most likely this year," said Ye Lin, vice president at Rystad Energy, who had previously expected a 2026 peak. The transport sector, which burns about two-thirds of all diesel in China, will use 40 per cent less by 2030, cutting overall diesel consumption by about a quarter compared to 2024 levels, according to Rystad. Diesel consumption this year is forecast to fall by 11.3 million tons, or 6.3 per cent, on par with last year's drop, according to SCI. Beijing to Yunnan After more than six years behind the wheel of a diesel truck, Li Shuai, who drives for a cement plant in Hebei province near Beijing, switched to an electric truck six months ago. "Charging infrastructure has improved noticeably in the past half year, making things much more convenient," Li, 38, said. "It is even possible to drive an empty truck more than 2,000 km from Beijing to Yunnan to pick up goods without worry." The rapid buildup of charging infrastructure, primarily through industrial corridors, is underpinning adoption, although charge times that can stretch to 90 minutes and limited charger availability in some areas remain issues. Teld, an EV charging infrastructure provider that has built more than 2,400 truck charging stations across China, officially opened an 800 km corridor in March linking Shanxi and Shandong provinces, a key route through the country's coal-producing region. At a charging station next to the Hebei cement plant, car and truck chargers sit side by side in the dusty lot. Owner Yongji Liu had originally only planned to service EVs but said "the electric truck market is growing so fast that we also installed chargers for trucks". Cheaper than alternative The booming market for electric trucks is partly due to cheap electricity and government subsidies introduced last July of up to 95,000 yuan ($13,264) for new vehicles, analysts and truckmakers said. While diesel trucks are cheaper upfront, higher fuel costs make them more expensive after a million kilometers of driving. Once fuel is included, diesel trucks cost about 2.25 million yuan ($314,000) at the million-kilometer mark, roughly 10 per cent more than LNG trucks and 15% more than electric trucks, according to GL Consulting. Rising fuel costs have also eroded some of the price advantage enjoyed by LNG trucks, which along with limited refueling stations in some regions, have hindered their growth, said SCI analyst Wang Neng. SCI forecasts LNG truck sales to hit around 92,000 units in the first half, down 15 per cent from a year earlier, although the surge in electric adoption is more than offsetting the impact on diesel consumption. China's second-best-selling electric truck maker Sany says the growth potential for electric trucks is greater than for passenger EVs because lower operating costs bolster the profitability of corporate users. "We expect electric heavy trucks to account for 70 per cent to 80 per cent of new sales within as little as two to three years, driven by lower operating costs and more comprehensive charging infrastructure," said Zhaoting Yue, SANY's vice president of international marketing.
Yahoo
6 days ago
- Business
- Yahoo
Crowley adds new U.S. Northeast ocean service with Central America
Crowley announced the launch of its first-ever shipping route connecting the U.S. Northeast with Central America. This expansion of ocean shipping services marks a significant step for Crowley, the U.S.-flag operator, as it taps into the burgeoning market between the Port of Philadelphia's Gloucester Marine Terminal and key ports in Guatemala and Honduras. By deploying its advanced Avance class vessels, Jacksonville-based Crowley promises five-day transits, ensuring the most timely deliveries of diverse goods, ranging from food and apparel to industrial products and consumer goods. Non-stop service via Crowley's state-of-the-art LNG-powered vessels translates directly into reduced inventory idle time and lower supply chain costs for businesses. 'This means less inventory idle time, lower supply chain costs, and longer shelf life for critical products like fresh produce,' said Reinier van Delden, vice president of commercial operations at Crowley Logistics, in a release. The inaugural voyage was scheduled to sail July 3 from Central America to Gloucester City, New Jersey, and will be operated in partnership with Gloucester Terminals LLC, a Holt Logistics Corp. client. The new transport corridor creates more streamlined pathways for the Northeast Atlantic business owners to engage with international markets. 'Marine service is an important pillar of Philadelphia's economy,' said Christian Holt, a sales representative for Gloucester and Holt, in the release, emphasizing the role this route will play in fostering economic growth and creating jobs within the Philadelphia-South Jersey communities. The new route fortifies Crowley's long-standing operations in the Northeast Atlantic, providing regular container services to regions including Puerto Rico, the Eastern Caribbean, and the Virgin Islands. Find more articles by Stuart Chirls vessel attacked in Red Sea US container import tariffs averaging 21%, says Maersk China trade outlook improves, container rates — not so much Why 44% fewer cancelled sailings could be [blanking] bad news for SoCal trucking The post Crowley adds new U.S. Northeast ocean service with Central America appeared first on FreightWaves. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Hindustan Times
01-07-2025
- Automotive
- Hindustan Times
High-end cars in Maharashtra become costlier by up to ₹10 lakh from today, only EVs exempted
₹10 lakh from today, only EVs exempted data-item-target-url=/auto/news/ data-item-story-segment=Others> Under the revised tax structure, high-end cars with petrol and diesel engines will see a substantial price hike. Notify me High-end cars, CNG and LNG-powered vehicles and goods carriers have become more expensive in Maharashtra from July 1, owing to the state government's revised one-time tax structure. While the previous capping for one-time tax was ₹ 20 lakh, it is now ₹ 30 lakh, which makes the cars with an ex-showroom price of ₹ 20 lakh or more costlier by at least ₹ 10 lakh, taking the price to ₹ 30 lakh or higher. However, the electric vehicles (EVs) in the state will continue to enjoy tax exemptions. Although the state government had earlier proposed a six per cent tax on EVs priced above ₹ 30 lakh, the proposal was later withdrawn. PTI has reported that high-end petrol and diesel cars registered under an individual's name in the state, with prices around ₹ 1.54 crore and ₹ 1.33 crore, respectively, will now attract more than ₹ 20 lakh as one-time tax. The report further added that in Maharashtra, the one-time tax for petrol cars registered under an individual's name is 11 per cent for those priced below ₹ 10 lakh, 12 per cent for those priced between ₹ 10 lakh and ₹ 20 lakh, and 13 per cent for those priced above ₹ 20 lakh. For diesel cars, the one-time tax is 13 per cent for those cars priced below ₹ 10 lakh, 14 per cent for those priced between ₹ 10 lakh and ₹ 20 lakh, and 15 per cent for those priced above ₹ 20 lakh. If a vehicle is imported or registered under a company name, both petrol and diesel vehicles in the state attract a flat one-time tax of 20 per cent, regardless of their price. The report has quoted RTO officials saying that under the revised tax structure, cars running on compressed natural gas (CNG) or liquefied natural gas (LNG) will also become slightly more expensive, with a one per cent hike in one-time tax across all three price brackets. On the other hand, goods carriers such as pickup trucks, tempos with a gross vehicle weight of up to 7,500 kilograms, and construction vehicles like cranes, compressors, and projectors will now be taxed at seven per cent of their price. A senior RTO official reportedly explained that these vehicles will now be taxed based on their price rather than on their gross vehicle weight, which was the earlier basis. For example, earlier, a pickup vehicle costing around ₹ 10 lakh would attract a tax of about ₹ 20,000 based on weight, which under the revised structure will be around ₹ 70,000. According to the state transport department's website, the earlier one-time tax ranged from ₹ 8,400 to ₹ 37,800 for goods vehicles with gross weights between 750 kg and 7,500 kg. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 01 Jul 2025, 07:44 AM IST
The Province
23-06-2025
- Business
- The Province
Seaspan carving out domestic market for LNG as fuel for ships in B.C.
Container ships, automobile carries and cruise liners are all showing up at the Port of Vancouver to take on LNG as fuel. The Seaspan Lions, a specially built LNG bunkering tanker, is shown conducting the first ship-to-ship refuelling of an LNG-powered ship, the oil tanker Pacific Jade, in January. As most of the attention in B.C. has been on producing liquefied natural gas sector for export, the Port of Vancouver and shipping interests are quietly looking at using LNG to fuel ships. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors The international shipping industry has been under pressure to reduce the emission impacts from burning notoriously carbon-intensive fuels, such as heavy oil, and LNG is seen as one of the most readily available alternatives to lessen that environmental burden. Local maritime conglomerate Seaspan commissioned a fleet of three specialized LNG refuelling tanker ships to deliver some of B.C.'s LNG to the increasing number of ships being built or converted. 'There are emissions pressures coming from the international regulators of ships,' said Harly Penner, president of the Seaspan subsidiary that operates the tankers. Those pressures, combined with Seaspan's proximity to made-in-Canada LNG from FortisBC's Tilbury plant in Delta, got the company to think, 'OK, the market opportunity is here to create that business,' Penner said. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Seaspan refuelled its first ship, the oil tanker Pacific Jade, in the Port of Vancouver on Jan. 30, while it was at anchor off Trans Mountain's Westridge Terminal in Burnaby. Since then, two of Seaspan's refuellers have topped up container ships, automobile carriers and even a cruise ship — the Silver Nova of the luxury Silver Seas line — on May 9. The Vancouver Fraser Port Authority considers the arrival of Seaspan's LNG refuelling capability as 'a vital step' in its own objectives for reducing emissions from port operations, according to Shri Madiwal, vice-president of operations. The introduction of high-capacity electric connections for cruise ships to plug into while in port, was an earlier step. Some 80 per cent of cruise ships that call on Vancouver now use that service. which means they do not have to run their electrical generators while docked here. This advertisement has not loaded yet, but your article continues below. Making alternative fuels available is another step, Madiwal said in a news release, and 'LNG is one of the most widely adopted alternative marine fuels and the first approved for bunkering at the Port of Vancouver.' LNG use does come 'with its own emission issues,' according to University of B.C. shipping expert Trevor Heaver. 'But if LNG is going to be a significant component of the change, then a coastal region — a port area — needs to have the capacity to service those ships,' said Heaver, a professor emeritus in operations and logistics at UBC's Sauder School of Business. Heaver said Seaspan's service is a 'technically needed, financially viable market component to service an element of the global shipping industry, which is already adopting LNG as one of the fuel alternatives to reduce carbon emissions.' This advertisement has not loaded yet, but your article continues below. Domestically, Seaspan's own private commercial ferry service, followed by B.C. Ferries, have already been using LNG as fuel, and FortisBC has had increasing sales in the marine sector, said Ian Finke, FortisBC's director of LNG operations. 'This is why FortisBC is pursuing the development of a jetty at its Tilbury facility to support local marine fuelling,' Finke said in an email response to Postmedia questions. Seaspan has also received approval to operate in Nanaimo and, through the U.S. Coast Guard, permission to refuel ships in the Port of Long Beach in California. A container ship at Long Beach was Seaspan's very first customer last December shortly after it received its first LNG refuelling vessel from the shipyard, the Seaspan Garibaldi. This advertisement has not loaded yet, but your article continues below. The Seaspan Garibaldi next to a cruise ship at B.C. Place. Built at the CIMC Sinopacific Offshore and Engineering shipyard in China, Seaspan's three 112-metre long LNG tankers all have West Coast-mountain themed names, Seaspan Garibaldi, Seaspan Lions and Seaspan Baker. During ship refuelling, referred to as bunkering in the industry, Penner said fuel is typically brought to vessels, most often by the barges often seen sidled up to cruise ships docked at Vancouver's Canada Place cruise terminal. '(Ship owners') expectations are that those service providers — like groceries, fuel, lubrication oil — they come to them,' Penner said. 'That's just a norm, a market norm of how the market works.' The LNG tankers, Penner said, give Seaspan the flexibility to take LNG to ships wherever they are. This advertisement has not loaded yet, but your article continues below. 'We'll continue to desire to expand to ports in places like the Puget Sound, which includes Seattle, Tacoma, Port Angeles and the Oakland area, which includes San Francisco, Benicia, (Port of) Richmond,' Penner said. He added that Seaspan has completed 40 refuelling jobs since taking delivery of its first LNG tanker late last year and expect to hit 80 by the end of this year. 'We're in a building phase right now,' Penner said. However, with industry analysts counting some 806 orders for LNG-powered ships since 2022, according to ship brokering company Fearnleys, Seaspan sees potential for growth. 'A large percentage of new cruise ships are being built using LNG as fuel,' Penner said. 'There is no segment that isn't (building LNG-powered ships), except for the smaller domestic places that just don't have the capabilities,' Penner added. depenner@ Read More News Vancouver Canucks Vancouver Canucks NHL News
