World News
Cavotec to Equip Boxships with Shore Power Systems Under New Contract
Cavotec has won a contract worth EUR 9.35 million ($10.9 million) to supply shore power systems from an undisclosed container shipping firm.
The deal covers the supply of shore power systems for both newbuild and existing vessels, the company said in a statement on its website on Monday.
The first order, worth EUR 5.55 million, covers retrofitting shore power systems on the firm’s large number of ships operating between Asia, the US, and Europe, with deliveries starting this year through 2026.
A second order worth EUR 3.8 million extends a deal announced in May and will see Cavotec provide shore power systems for newbuild boxships from late 2026.
Shore power, or cold ironing, is growing at ports worldwide, cutting emissions by allowing vessels to shut off diesel generators in port.
But while this helps reduce pollution in port areas, it is not enough to address global shipping emissions. Significant investment in low- and zero-carbon marine fuels is still needed to achieve broader decarbonisation.
Shore power's green credentials are also reliant on the availability of power from renewable sources in the land-based grid.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 477.50 | 7.00 | 671.00 | 15.00 |
| Rotterdam | 438.00 | 5.00 | 657.00 | 12.00 |
| Houston | 464.50 | 3.00 | 664.00 | 0.00 |
| Fujairah | 477.50 | 7.00 | 729.00 | 1.00 |
| Global 20 Ports Average | 511.50 | 2.50 | 757.50 | 6.00 |
| Global 4 Ports Average | 464.50 | 4.00 | 680.00 | 7.00 |
| Global Average Bunker Price | 553.00 | 10.50 | 799.00 | 4.00 |
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