World News
$15 billion in Scrubber Sales Predicted by 2025
The maritime industry will take up scrubbers in a big way in response to emissions rules, Robin Meech, managing director of Marine and Energy Consulting told the International Bunker Conference in Copenhagen Thursday, Platts reports.
Scrubbers are generally "the cheapest method to comply for existing ships less than 15 years old," Meech said.
With a cost of about $4 million, a scrubber system was said to beat low-sulfur bunker fuel and liquefied natural gas (LNG) on price in many cases.
Meech projects that about 6,000 scrubbers will be in operation, at a cumulative cost of $15 billion, and scrubbers will be used on ships burning 28 million metric tonnes (mt) of heavy fuel oil (HFO) per year.
If the use of LNG takes off, Meech said about 8 million mt of that fuel will be used per year, mainly by about 1,700 smaller vessels, and it will account for about 11 percent of bunkers consumed.
The UK's Ocean Shipping Consultants (OSC) reported earlier this year that the use of scrubbers for cruise vessels is poised for high growth.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
Popular Now More
-
Dec 232024's total is heading for a 3.4% gain from 2023 and the highest level since 2019, according to the latest market survey from Ship & Bunker and 2050 Marine Energy. -
Dec 16The new hire previously worked for ExxonMobil from December 2018 to October of this year. -
Dec 19The new board was appointed after an extraordinary general assembly of the association's members, incoming Chairman Mustafa Muhtaroğlu tells Ship & Bunker.