World News
DNV GL: The Time has Come for LNG Bunkers
DNV GL on Wednesday said the time for liquefied natural gas (LNG) bunkers had come as they presented an Approval of Principle (AIP) to Hyundai Heavy Industries (HHI) and United Arab Shipping Company (UASC), showing recognition for the technical feasibility of the LNG fuel system design for 17 newbuild container vessels.
"LNG as a ship fuel is a trend, whose time has come," said Tor Svensen, CEO of DNV GL Maritime. "The benefits from an environmental and increasingly a business perspective are more apparent every day."
"But for an innovative idea to spread and really take hold," Svensen continued, "you need partners who not only have a vision, but also have the technical expertise to realise that vision. The strong relationship and excellent cooperation between UASC, HHI, and DNV GL has resulted in this milestone – the first AIP for LNG as fuel in a true mega box ship."
The 17 vessels intended for conversion include eleven 14,500 twenty-foot equivalent unit (TEU) vessels and six 18,800 TEU vessels, and DNV GL said the AIP was awarded as part of their "LNG Ready" service, demonstrating that the designs will enable a cost and time efficient conversion.
In July, DNV GL said it would run a Joint Industry Project (JIP) studying the potential consequences of an accidental release of LNG during bunkering operations.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 625.00 | 9.00 | 732.00 | 15.00 |
| Rotterdam | 577.50 | 3.50 | 739.50 | 1.00 |
| Houston | 595.00 | 0.50 | 767.00 | 4.50 |
| Fujairah | 628.50 | 4.00 | 878.50 | 11.00 |
| Global 20 Ports Average | 645.50 | 0.50 | 827.00 | 5.00 |
| Global 4 Ports Average | 606.50 | 0.50 | 779.50 | 0.50 |
| Global Average Bunker Price | 703.50 | 4.00 | 886.00 | 6.00 |
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