World News
DNV: 1 in 10 Newbuilds To Have Gas-Fueled Engines
Over the next eight years, one in 10 newbuildings will have gas-fueled engines, and in 2020 newbuildings will emit up to 35 per cent less CO2 than their counterparts today according to the Det Norske Veritas (DNV) Shipping 2020 report.
The report is based on models including regulatory changes, fuel prices, and the development of new technology to predict various scenarios for the shipping industry.
"Predicting the future is a risky business," said Tor Svensen, president of DNV Maritime and Oil and Gas.
"However, our objective is to share our views on technology uptake towards 2020, and beyond, and to stimulate both discussion and correct decision-making."
DNV says trade routes and demand for vessels will be affected by the shift of economic power to Asia, the decoupling of gas and oil prices, and the development of shale gas.
The firm predicts that scrubbers will not come into widespread use until new global limits on sulfur dioxide take effect and that limits in emissions control areas (ECAs) will not drive the implementation of that technology.
It also says delays in the ratification of the Ballast Water Management Convention are likely to create a significant backlog of orders, while peak uptake of new ballast water technology will occur in 2017.
A study earlier this year by Germanischer Lloyd SE (GL) and MAN Diesel & Turbo SE (MAN) found that LNG is a more cost-effective technology than scrubbers.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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