World News
Total Plans to Assemble Fleet of 28 LNG Ships
France-based Total S.A. (Total) plans to assemble a fleet of 28 Liquified Natural Gas (LNG) ships to deliver gas worldwide, MarketWatch reports.
Laurent Vivier, Director for gas activities of Total, says 12 standard LNG ships, each costing between $200 million and $250 million, is scheduled to be delivered by Samsung-owned Korean shipyards by 2017.
Total is also scheduled to order a fleet of 16 ice-break LNG ships for its $27 billion gas extraction project which includes a LNG plant in Yamal, Russia, according to Vivier.
"LNG shipping is extremely flexbile," said Vivier.
"Half of the gas shipments are going to other places than meant when the plants were designed."
Vivier also believes that natural gas transportation is likely to grow in the upcoming years.
This prediction was echoed by Boston Consulting Group (BCG), who in March said that LNG is likely to become the marine fuel of the future, commanding up to 27 percent of the bunker market by 2025.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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