World News
Stolt-Nielsen Orders Two Small-Scale LNG Ships with Bunkering Capabilities
Stolt-Nielsen Limited (Stolt-Nielsen) today announced that its subsidiary, Stolt-Nielsen Gas B.V. (SNG), has signed an $80 million contract with Keppel Singmarine for the construction of two 7,500 cubic metre (cbm) liquefied natural gas (LNG) carriers that will be capable of ship-to-ship bunkering operations.
Stolt-Nielsen says the two vessels will also be able to operate on either diesel fuel or LNG, noting that the contract also includes options to purchase three additional similar ships.
SNG is said to have already negotiated a Heads of Agreement with an oil major that intends to charter the first ship for trading in the Mediterranean.
The second vessel is expected to trade in Northern Europe upon deployment.
The new vessels will, in part, be used to supports SNG plans to build and operate an LNG terminal and distribution facility in the port of Oristano, Sardinia, and to initiate a venture to provide LNG to areas of Scotland not served by the existing natural-gas grid.
The ships are to be built at Keppel Singmarine's shipyard in Nantong, China, with deliveries slated for 2019's second and third quarters, respectively.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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