EMEA News
LH2 Shipping Secures Funding for Two More Hydrogen-Powered Bulk Carriers
Norwegian firm LH2 Shipping has secured NOK 344.3 million ($36 million) in support from state agency Enova to develop and build two additional hydrogen-powered bulk carriers.
The award expands the company's hydrogen vessel portfolio to six projects, it said in an email update on Tuesday.
The new 7,700 dwt vessels will be designed for shortsea bulk and general cargo trades between Norway and continental Europe.
The ships will use liquid hydrogen as their primary fuel.
According to LH2 Shipping, the latest award raises total Enova support for its six hydrogen-powered vessel projects to more than NOK 800 million.
The company said the projects will help advance hydrogen bunkering infrastructure and support wider adoption of zero-emission shipping.
However, while hydrogen is seen as a potential future fuel to decarbonise shipping, a report from classification society DNV argues that pure hydrogen is likely to play a limited role in shipping due to storage and energy constraints.
Instead, DNV expects shipping marine fuel demand to centre on hydrogen-derived fuels such as ammonia and e-methanol.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 874.00 | 5.00 | 1304.00 | 6.00 |
| Rotterdam | 698.50 | 5.00 | 1430.00 | 11.50 |
| Houston | 748.00 | 15.00 | 1386.50 | 23.00 |
| Fujairah | 976.00 | 7.50 | 1686.00 | 8.50 |
| EMEA Average | 860.50 | 0.50 | 1718.00 | 8.50 |
| Global 20 Ports Average | 882.00 | 7.00 | 1534.00 | 5.50 |
| Global 4 Ports Average | 824.00 | 5.50 | 1451.50 | 6.50 |
| Global Average Bunker Price | 938.00 | 8.00 | 1608.00 | 10.50 |
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