World News
Container Line CMA CGM Orders 12 More LNG-Powered Boxships
The LNG bunker market is set to receive another boost over the next three years as container line CMA CGM has ordered 12 more gas-powered boxships.
The firm has signed a deal with CSSC Group to order six 15,000 TEU gas-powered container ships, six 13,000 TEU gas-powered container ships and another 10 smaller 5,500 TEU vessels running on VLSFO, it said in a statement on its website on Friday.
"This order aims at accommodating market growth," the company said in the statement.
"These vessels are expected to join the Group's fleet between 2023 and 2024."
CMA CGM is already the world's largest buyer in the niche LNG bunker market, and this order will cement that position. The first bunkering of the CMA CGM Jacques Saadé at Rotterdam in November took up 8.2% of the Dutch port's LNG sales for all of last year.
CMA CGM has a longstanding relationship with French energy producer Total to supply LNG to the firm's gas-powered ships, and this new order is also likely to strengthen Total's position as the world's largest LNG bunker supplier.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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