World News
European Shipowner Orders Two LNG Bunkering Vessels
South Korean shipyard HD Hyundai Mipo has secured an order from an undisclosed European shipowner for two 18,000 m3 LNG bunkering vessels.
The deal is worth KRW 270.6 billion ($199 million), according to an exchange filing from HD Hyundai Mipo on Friday.
The two LNG bunkering vessels are expected to be delivered by November 2027.
This order adds to a recent wave of LNG bunkering vessel contracts for the yard.
In September 2024, HD Hyundai Mipo received a similar order for two 18,000 m3 LNG bunkering vessels—also from an unnamed European owner—with delivery also set for 2027.
As more LNG-fuelled ships enter service, global demand for LNG as a marine fuel is expected to grow.
This will need additional bunkering infrastructure, including LNG bunkering vessels. According to classification society DNV, 63 LNG bunkering vessels are currently in operation, with another 27 on order for delivery by 2028.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 1.00 | 600.50 | 1.50 |
| Rotterdam | 472.50 | 3.00 | 612.50 | 3.00 |
| Houston | 472.00 | 0.00 | 619.00 | 0.50 |
| Fujairah | 502.00 | 2.00 | 709.00 | 4.50 |
| Global 20 Ports Average | 532.00 | 1.00 | 706.00 | 0.50 |
| Global 4 Ports Average | 489.50 | 1.50 | 635.50 | 2.00 |
| Global Average Bunker Price | 568.50 | 1.00 | 753.50 | 1.00 |
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