World News
ESL Shipping to Receive up to €5.9 Million in EU Funding for LNG-Powered Newbuilds
Aspo Plc (Aspo) has announced that its subsidiary ESL Shipping Ltd (ESL), through the Euorpean Union's (EU) Connecting Europe Facility for Transport instrument, will receive as much as €5.9 million ($6.25 million) between this year and 2019 to support the construction of the ESL's newbuild 25,600 DWT LNG-fuelled Handysize dry bulk carriers.
As Ship & Bunker reported last year, Finland-based ESL placed a €60 million ($63.65 million) order for two LNG-powered "extremely energy-efficient" bulkers, both slated for delivery in early 2018.
The first of the EU funding is set to be paid in the amount of €2.1 million ($2.23 million) before the end of this year.
In addition, Aspo says that ESL Thursday signed two separate agreements vessel financing agreements worth €50 million ($53.02 million), with OP Corporate Bank Plc (OP Corporate Bank) to finance the company's newbuilding projects.
In January, DNV GL announced that two newbuild bulk carriers being built for ESL, will not only be the first large LNG propelled bulkers, but also the first vessels to be built to DNV GL's new rules for general dry cargo ships with DNV GL ice class 1A.
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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