World News
Algoma Central Corporation Orders Four Methanol-Ready Bulkers
Shipping firms Algoma Central Corporation and CSL Group have ordered four new methanol-ready dry bulk carriers.
Alcoma has ordered two of the jointly designed 72,250 DWT bulkers and CSL Group the other two, and the order comes with an option for two more vessels, the companies said in a press release on Friday. Delivery is scheduled from July 2025.
The vessels will come with a methanol-ready notation that indicates they are suitable for retrofit to methanol propulsion at a later date, typically meaning the design incorporates enough space for larger fuel tanks.
"The teams at Algoma and CSL combined their decades of experience in this space to design the optimum ship for the Pool trades, while simultaneously taking yet another leap forward in reducing our carbon footprint," Gregg Ruhl, CEO of Algoma, said in the statement.
Interest in methanol propulsion has largely come from the container segment over the past few years, but in recent months dry bulk shipping firms have also been showing more interest.
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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