World News
Methanol-Fuelled Ships Are Getting More Expensive
The cost of adding the option of using methanol as fuel to a newly ordered container ship is increasing, according to shipping intelligence service Alphaliner.
New neo-panamax boxships with methanol propulsion used to come at a premium of about 15% to conventionally-fuelled equivalents, but now can be expected to cost about 20% more, Alphaliner said in its weekly newsletter.
At the same time, the premium for LNG-fuelled tonnage remains static at about 25%.
"The increased premium for methanol is mainly demand driven, since many carriers have followed Maersk's lead to choose this fuel as an alternative bunker," the company said in the note.
"The shrinking delta between methanol and LNG dual-fuel ship prices, and increasing worries over the availability of green methanol in sufficient quantities, might see some owners reconsider their choice and convert orders in favor of LNG."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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