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Seaside LNG Announces New Bunkering Operation in Galveston, Texas
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) and Seaside LNG have entered a term bunkering agreement to supply the Carnival Jubilee with LNG, marking a milestone in creating an LNG supply chain in Galveston, Texas. The Clean Jacksonville barge will deliver the first LNG to the Carnival Jubilee in December 2023, with plans for long-term supply solutions. This move aligns with Carnival Corporation's commitment to reducing carbon emissions through LNG-powered vessels.
Positive
Growing demand for LNG to fuel the maritime sector, Carnival Corporation's commitment to reducing carbon emissions through LNG-powered vessels
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None.
Largest U.S. Jones Act LNG Bunkering Fleet to Supply the Carnival JubileeTM
HOUSTON--(BUSINESS WIRE)--
Seaside LNG and Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) have entered into a term bunkering agreement to fuel the first LNG propelled cruise ship to call Galveston, Texas its homeport, the Carnival JubileeTM. This marks a significant milestone for Seaside and Carnival Corporation by working closely together to create an LNG supply chain in a new region of the United States.
Seaside’s barge, the Clean Jacksonville, will move from Jacksonville, Florida to operate out of Galveston and serve the Texas Gulf Coast with its first LNG delivery to the Carnival Jubilee in December 2023. Through the assistance of the Port of Galveston, Seaside aligned all stakeholders to ensure the proper infrastructure is in place to begin the operation this winter.
Initially, the LNG supply will be trucked from inland locations and then loaded onto Seaside’s LNG barge. Seaside and Carnival Corporation will continue to work together to provide direct access to a marine facility for the most efficient long-term supply solution.
Carnival Corporation has continued to show its dedication to reducing carbon emissions through their growing global LNG powered fleet. “LNG delivers immediate greenhouse gas emission reductions and is the best available market-ready fuel to help cut ship emissions now – so Carnival Corporation is investing in LNG-powered vessels as part of our ambition to achieve net-zero carbon ship operations by 2050,” said Tom Strang, Senior Vice President of Maritime Affairs, Carnival Corporation & plc. “We were the first to introduce LNG-powered cruise ships into the North American market, and we’ll be the first to introduce our LNG fleet to Galveston with the Carnival Jubilee. We appreciate Seaside for moving quickly to mobilize, find supply, and bring the parties together to create a new LNG supply chain to support our LNG bunkering needs.”
“The Seaside LNG team is excited to expand our LNG bunkering reach in the U.S. by linking a local supplier with Carnival Corporation through the use of our LNG barge fleet,” added Tim Casey, CEO of Seaside LNG. “We plan to continue building upon this position in the Texas Gulf Coast market by sending additional barges to the region in the future.”
The demand for LNG to fuel the maritime sector is growing rapidly with orders for Dual Fuel vessels eclipsing almost 50% of the world’s fleet orderbook. In addition, LNG is the leading solution in the maritime sector as the industry advances its sustainability goals while utilizing existing infrastructure to meet growing emissions reductions objectives.
About Seaside LNG
Seaside LNG provides LNG production and maritime transportation logistics to meet the growing demand for LNG, a cleaner alternative fuel, to customers in the maritime, aerospace and transportation industries. Seaside owns 50% of JAX LNG, a small-scale (360,000 gallons/day) LNG production facility operating two trains in Jacksonville, Florida, and a 100% ownership stake in an LNG bunkering barge operation through Polaris New Energy (PNE). PNE, the bunkering arm of Seaside LNG, maintains the largest fleet of Jones Act-compliant bunkering vessels in the U.S., including Clean Canaveral, Clean Jacksonville and tug Polaris, and Clean Everglades and tug Tortuga. PNE’s bunkering operation is compatible with several vessel types, including cruise ships, containerships, tankers, and car carriers. Seaside continues to pioneer the buildout of LNG bunkering in the U.S. and looks to continue to grow its market leading geographic reach and Jones Act LNG barge fleet to additional ports soon. In October 2023, Seaside welcomed its newest barge, the Clean Everglades. For more information, visit www.seasidelng.com.
About Carnival Cruise Line
Carnival Cruise Line, part of Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), is the first cruise line to sail over 100 million guests and is proud to be known as America's Cruise Line, for carrying more Americans and serving more U.S. homeports than any other. For over 50 years, Carnival has continually revolutionized the cruise industry and popularized the cruise vacation as an affordable and fun travel option. Carnival operates from 14 U.S. and two Australian homeports and employs more than 40,000 team members representing 120 nationalities. Carnival currently operates 25 ships and is in an exciting period of growth with the addition of two ships over the next year.
What is the agreement between Carnival Corporation & plc and Seaside LNG?
Carnival Corporation & plc and Seaside LNG have entered into a term bunkering agreement to supply the Carnival Jubilee with LNG, marking a milestone in creating an LNG supply chain in Galveston, Texas.
When will the first LNG delivery to the Carnival Jubilee take place?
The first LNG delivery to the Carnival Jubilee is scheduled for December 2023.
What is Carnival Corporation's stance on reducing carbon emissions?
Carnival Corporation is committed to reducing carbon emissions through their growing global LNG powered fleet, aiming to achieve net-zero carbon ship operations by 2050.
