World News
Tanker Company TORM Sees LNG as 'Interim Measure Only'
Friday May 14, 2021
Tanker company TORM looks unlikely to join the ranks of shipping companies taking on LNG bunkering as a means of decarbonisation.
The firm will be willing to join pilot projects across a range of alternative fuels and technologies, but is not keen for a shift to LNG, price reporting agency S&P Global Platts reported on Thursday, citing an interview with Jacob Meldgaard, CEO of TORM.
The company "does not favour LNG as it is a hydrocarbon, and considers the fuel as an interim measure only," Platts cited Meldgaard as saying.
TORM's fleet will consist of 85 ships by the first quarter of next year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
Popular Now More
-
Nov 26The new hire previously worked as a bunker trader for IBT Bunkering & Trading in Hamburg. -
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 25The organisation has been focused on developing a standard clause that is workable for most scenarios and commercial relationships, following feedback from industry consultations.