World News
K Line Plans 40-Strong LNG-Fuelled Fleet by 2030
Japanese shipping firm K Line plans to have about 40 LNG-fuelled ships in its fleet by 2030.
The company revealed the target in an annual report published on its website last week.
"Regarding the use of alternative fuels in ships, which mainly use heavy oil now, "K" LINE completed the construction of an LNG-fuelled car carrier in 2021, and has placed orders for eight new LNG-fuelled car carriers and one large LNG-fuelled bulk carrier," the company said in the report.
"In the 2020s, the Company plans to expand its fleet of LNG-fuelled ships by launching approximately 40 vessels by 2030.
""K" LINE has also commenced R&D into ammonia-fuelled ships, with the aim of commercializing and introducing a zero-emissions vessel as early as possible in the 2020s."
The LNG bunker industry has grown rapidly in the past five years with natural gas emerging as the dominant alternative fuel, and supply has now been established at most major hubs and is being rolled out steadily to the smaller bunkering ports. But shipowners with gas-powered tonnage are now increasingly asking for bio- and synthetic LNG to be added as supply options as a means of further cutting GHG emissions.
A total of 17 LNG-fuelled ship orders were noted last month, according to classification society DNV.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 591.50 | 15.00 | 633.00 | 11.00 |
| Rotterdam | 525.00 | 11.00 | 628.50 | 9.00 |
| Houston | 505.50 | 15.50 | 638.50 | 12.00 |
| Fujairah | 577.50 | 13.00 | 768.50 | 17.00 |
| Global 20 Ports Average | 597.50 | 9.00 | 728.50 | 8.00 |
| Global 4 Ports Average | 550.50 | 13.00 | 666.50 | 13.00 |
| Global Average Bunker Price | 643.50 | 4.00 | 806.00 | 2.50 |
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