World News
Newport Shipping to Offer LNG Retrofit Service
UK-based shipyard company Newport Shipping is set to offer an LNG propulsion retrofit service after its concept won the backing of classification society DNV.
DNV has awarded its approval in principle to Newport's LNG retrofit fuel tank system for VLCCs and Capesize bulkers, Newport said in an emailed statement on Friday.
The company's concept is based on deck-mounted LNG tanks which can be installed without major hull modifications, reducing the cost. The tank capacity would be enough for a single voyage before refuelling.
"This marks a significant milestone for Newport Shipping, positioning it to take a leading role in the rapidly emerging market to adapt vessel fuel systems for LNG that has seen only a few such retrofits globally to date," the company said in the statement.
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 |
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