World News
DNV GL Releases New Report for LNG Conversion
Monday December 29, 2014
Classification society DNV GL has released a new report on the evolving use of liquefied natural gas (LNG) in the shipping industry.
As LNG is now a proven and available fuel option, said DNV GL, the report aims to inform owners and operators who may convert to LNG in the future, adding that "the ground work has been laid for LNG to thrive in the shipping and transport sectors."
"While conventional oil-based fuels will remain the main fuel option for most existing vessels in the near future, the commercial opportunities of LNG are interesting for many newbuild and conversion projects," the company said.
The organisation has heavily promoted the adoption of LNG, having said earlier this year that LNG was trend whose "time had come."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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