World News
Tristar Holds Naming Ceremony for First of Six Bunker-Saving Tankers
UAE-based Tristar Group (Tristar) Saturday held a naming ceremony for Silver Manoora, the first of six newbuild MR tankers set to be delivered to the company featuring a bunker-saving hull, local media reports.
The MR tankers are said to have a hull form design that improves fuel efficiency, making them more eco-friendly compared to conventional designs.
"This is indeed a red letter day for Tristar. Today we are proud owners of a brand new ship with five more to follow during the course of this year," said Tristar's CEO, Eugene Mayne, at the ceremony.
Tristar is said to have placed the $200 million order for the six new tankers in 2013 at South Korea's Hyundai Mipo Dockyard Co. (HMD).
Once delivered this year, Tristar says all six tankers will be placed on long term time charter with Royal Dutch Shell Plc (Shell).
Last year, Mayne said that "the new vessels will operate with lower fuel consumption than existing tonnage, making them much more economical to operate."
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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