Asia/Pacific News
Himalaya Shipping Takes on LNG Bunkers for First Time
Bermuda-based dry bulk shipping firm Himalaya Shipping has taken on LNG as a marine fuel for the first time.
The shipping firm's bulkers the Mount Norefjell and the Mount Matterhorn have both been bunkered with LNG over the past few days, the company said in a statement on its website on Wednesday.
The deliveries were both made in Singapore.
"We are pleased to see the first LNG bunkering of the Himalaya ships," Herman Billing, CEO of Himalaya Shipping, said in the statement.
"Both the environmental and economic benefit of running on LNG makes us confident in our choice to invest in dual fuel engines.
"The high LNG prices seen in the wake of the Russia-Ukraine conflict seems to be normalizing, and we believe, over time, LNG prices will trade at a discount to oil.
"Of the around 2000 Capesize+ dry bulk ships in the world, less than 2% can run on LNG, hence, Himalaya Shipping is well positioned to benefit from the environmental regulations being introduced."
LNG for now remains the dominant alternative bunker fuel, with several hundred ships now using it as fuel. The main challenge facing the LNG bunker industry now is the scaling-up of greener bio- and synthetic LNG production to meet the needs of shipowners seeking to cut the GHG emissions of their gas-powered tonnage.
