World News
Singfar Group Orders Up to Four LNG Bunker Vessels: Report
Maritime logistics firm Singfar Group has reportedly ordered up to four new LNG bunker delivery vessels.
The company has ordered two 20,000 m3 LNG bunker vessels from CSSC Guangzhou Wenchong Shipbuilding, with the option for two more, news provider Splash 247 reported this week, citing shipyard sources.
Delivery is expected from August 2027, according to the report.
LNG bunkering grew rapidly in prominence in 2024, with a constant stream of orders for new ships capable of running on the alternative fuel. Most notable was the order by container line AP Moller-Maersk of gas-powered tonnage, where previously the company had been critical of LNG and focused on methanol as its alternative fuel of choice.
But several in the LNG bunker industry have raised concerns that LNG bunker delivery vessels are not being ordered at a sufficient pace to keep up with the future demand being added to the orderbook.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.00 | 3.00 | 703.00 | 8.50 |
| Rotterdam | 526.50 | 1.50 | 662.00 | 1.50 |
| Houston | 563.50 | 2.00 | 706.00 | 6.50 |
| Fujairah | 559.50 | 3.00 | 758.00 | 1.00 |
| Global 20 Ports Average | 587.00 | 4.50 | 770.50 | 3.00 |
| Global 4 Ports Average | 553.50 | 2.50 | 707.50 | 4.00 |
| Global Average Bunker Price | 627.50 | 5.50 | 812.00 | 1.00 |
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