World News
Cosco Completes Sea Trials of Retrofitted Methanol-Fuelled Boxship
Shipping company Cosco Shipping Lines has completed sea trials of a container ship converted to run on methanol by engine manufacturer Everllence.
The 20,000 TEU Cosco Shipping Libra has successfully completed sea trials after the conversion of its engine to an 11S90ME-LGIM model, Everllence said in an emailed statement on Tuesday.
The project was the world's first conversion of an Everllence B&W S90 two-stroke engine to dual-fuel methanol running.
"We're proud to support COSCO SHIPPING LINES and COSCO SHIPPING HEAVY INDUSTRY — and the maritime industry as a whole — in taking this significant step toward decarbonising shipping," Michael Petersen, senior vice president and head of Everllence PrimeServ Denmark, said in the statement.
"This milestone highlights COSCO SHIPPING LINES' role as a first mover and presents a practical path for reducing emissions from Everllence S90 engine vessels.
"It also showcases Everllence's capability to deliver large-scale retrofit projects.
"With 26 dual-fuel conversions already completed and an even larger pipeline across various alternative fuels, shipowners can trust Everllence to deliver retrofit solutions at scale."
A significant number of new methanol-fuelled ships have been ordered in recent years as shipping companies turn to alternative fuels to cut their GHG emissions. But if decarbonisation targets are to be met over the next decade, retrofits of the existing fleet will also need to be taken on at scale.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 460.00 | 1.00 | 721.00 | 3.50 |
| Rotterdam | 437.00 | 4.50 | 693.50 | 13.50 |
| Houston | 456.50 | 8.00 | 676.00 | 2.00 |
| Fujairah | 461.00 | 6.50 | 752.50 | 0.00 |
| Global 20 Ports Average | 499.00 | 0.50 | 773.50 | 7.50 |
| Global 4 Ports Average | 453.50 | 2.00 | 710.50 | 4.50 |
| Global Average Bunker Price | 540.50 | 1.50 | 807.00 | 9.00 |
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