Asia/Pacific News
Chinese Shipbuilder Sees Growing Demand for LNG Bunkering Vessels
China's Nantong CIMC Sinopacific Offshore & Engineering (CIMC SOE) says it is seeing growing demand for LNG bunkering vessels after securing new orders for three units.
The yard has won contracts for two 20,000 m3 LNG bunkering vessels and one 18,900 m3 vessel, CIMC SOE said in a statement on its website on Friday.
The company did not disclose the buyer or delivery timeline.
The latest deals bring CIMC SOE's cumulative orders for its 20,000 m3 LNG bunkering vessel design to 10 vessels, while orders for the 18,900 m3 variant now stand at three vessels.
CIMC SOE added work on the 20,000 m3 series is progressing under an established production schedule, with construction of the 18,900 m3 vessels set to begin in the second half of this year.
The global LNG-fuelled fleet currently totals 854 ships, with another 651 expected to join by 2030, according to classification society DNV. As more LNG-fuelled vessels enter service, demand for LNG bunkers is expected to rise, requiring additional bunkering tonnage to support supply.
At present, 64 LNG bunkering vessels are in operation globally, with a further 35 expected to be delivered by 2030.
"Against the backdrop of accelerating energy transition in the global shipping industry, demand for specialized and high-efficiency LNG bunkering infrastructure continues to grow," CIMC SOE said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 489.50 | 0.50 | 674.00 | 2.50 |
| Rotterdam | 450.50 | 7.00 | 694.50 | 1.50 |
| Houston | 457.50 | 0.00 | 657.00 | 2.50 |
| Fujairah | 471.00 | 8.50 | 748.50 | 7.00 |
| APAC Average | 541.50 | 1.50 | 758.50 | 1.00 |
| Global 20 Ports Average | 508.50 | 1.00 | 769.50 | 2.00 |
| Global 4 Ports Average | 467.00 | 4.00 | 693.50 | 1.00 |
| Global Average Bunker Price | 539.50 | 1.00 | 799.50 | 3.50 |
Popular Now More
-
Feb 09MGO now takes up 55% of the Turkish market, Energy Petrol CEO Mustafa Muhtaroglu tells Ship & Bunker. -
Feb 09Authorities are also required to notify the IMO and take action against suppliers if non-compliant fuel is confirmed. -
Feb 09The Indian Coast Guard alleges the vessels were involved in a syndicate exploiting the ship-to-ship transfer of cheap oil.