World News
LNG- and Methanol-Fuelled Tonnage Takes Up 28% of Boxship Orderbook
Container tonnage capable of running on methanol or LNG as a bunker fuel now takes up more than a quarter of the total boxship orderbook.
The two alternative propulsion technologies together represent 28% of the current container ship orderbook by capacity, or 138 vessels representing 1.67 million TEU, shipping intelligence service Alphaliner said in its weekly note to clients.
That compares with fewer than 50 ships representing about 720,000 TEU of capacity a year ago.
The numbers reveal the rapid growth in alternative bunker fuel demand expected in the coming years as the new ships are delivered. Alternative fuels have been slow to make inroads into conventional bunker demand, but this process will accelerate sharply before the end of the decade.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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Apr 19The firm has chartered the 7,994 DWT barge Margherita to add to the operation, operated by Fratelli Cosulich. -
Apr 18Singapore's authorities are in the process of developing a regulatory framework for a methanol bunkering licence, and plan to call for applications for the licence by the end of this year. -
Apr 19The company is looking for candidates with proven experience in bunker trading and demonstrated leadership experience.