World News
High Fuel Prices Mean "Significant Opportunities"
MAN Diesel & Turbo (MAN Diesel) says its latest G-type engine, the G60, which recently passed its Type Approval Test, will be able to take advantage of high bunker prices and ship owners' need to reduce their bunker bills.
The G60 engine represents the culmination of many years' development work," said Christian O. Rasmussen, head of the company's classification business.
"In these uncertain times for the shipping industry, MAN Diesel & Turbo sees significant opportunities arising for G60 as fuel prices continue to rise."
The engine, which passed the test at Hyundai Heavy Industries division HHI-EMD, uses an ultra-long-stroke design to reduce engine speed, making propulsion more efficient and helping to reduce fuel consumption and carbon dioxide (CO2) emissions.
MAN Diesel has announced sales of a number of its G-type engines in recent months as ship owners work to control fuel costs.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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