World News
MAN Sees Wave of Methanol-Fuelled Ship Orders
Engine manufacturer MAN Energy Solutions reports seeing a wave of orders of methanol-fuelled ships.
The company has signed a deal with Japan's Tsuneishi Shipbuilding for three methanol main engines for three 81,200 DWT bulkers on order for shipping firm J Lauritzen, it said in an emailed statement on Wednesday.
The ships will be chartered by Cargill for at least the first seven years of their life.
A total of 152 methanol-powered ships have been ordered so far this year, according to classification society DNV, compared with 112 LNG-fuelled ones.
"We are currently experiencing a wave of ME-LGIM orders and it is great to see such a respected company as J. Lauritzen joining the decarbonisation journey," Bjarne Foldager, head of two-stroke business at MAN, said in the statement.
"While car carriers have been to the fore recently, we ultimately expect methanol to figure prominently as a future fuel across all vessel segments and these newbuildings will be capable of trading carbon-neutrally when powered by green methanol and bio-fuel oils."
Methanol is rapidly gaining in popularity as an alternative marine fuel, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 1.50 | 666.50 | 3.50 |
| Rotterdam | 515.00 | 1.50 | 662.50 | 0.50 |
| Houston | 542.50 | 5.00 | 656.50 | 2.00 |
| Fujairah | 560.50 | 6.50 | 742.00 | 4.50 |
| Global 20 Ports Average | 585.00 | 3.00 | 749.50 | 1.00 |
| Global 4 Ports Average | 547.50 | 3.50 | 682.00 | 0.50 |
| Global Average Bunker Price | 634.00 | 2.00 | 805.50 | 1.50 |
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