Asia/Pacific News
LNG-Fuelled Ship Sees 24% Bunker Cost Savings
An LNG-powered passenger ship operating out of the South Korean port of Incheon is achieving bunker cost savings of 24 percent compared to diesel-fuelled vessels, Korea Bizwire reports.
The vessel, named Econuri and first launched in 2013, was built by the Incheon Port Authority (IPA) and said to be Asia's first LNG-fuelled ship.
IPA officials last week presented information about the vessel at the Fourth Annual LNG Bunkering Conference in Singapore.
While the unit cost of the LNG bunkers was not revealed and LNG spot prices are notoriously difficult to obtain, in general LNG bunkers have the potential to offer large savings compared to the equivalent energy provided by MGO.
For example, at the port of Vancouver where Ship & Bunker provides exclusive energy equivalent spot LNG bunker prices, the ex-wharf LNG-MGOe price - that is, the price for an amount of LNG that delivers the energy equivalent of one metric tonne of MGO - is currently $284.50.
This compares to an MGO price in the port of $589.50/mt.
A video released by IPA explaining more about the vessel can be found here: https://www.icpa.or.kr/eng/article/view.do?articleKey=8332&boardKey=268&menuKey=1808¤tPageNo=1
