World News
BIMCO: LNG Bunkers "Gradually Picking Up Pace"
New orders for liquefied natural gas (LNG)-fuelled vessels and progress in the development of LNG bunkering infrastructure suggests an uptick in adoption of the fuel, according to a the Baltic and International Maritime Council (BIMCO).
"[T]here are signs that the slow march of LNG into the marine fuels market is gradually picking up pace," the Watchkeeper writes.
In the Baltic, one large ferry is already operating on the fuel, and others are on order, while Horizon Lines and Crowley are amongst the companies adopting the fuel in the U.S.
China's Nantung KHI Ship Engineering shipyard is also working with Lloyd's Register (LR) on a general cargo ship capable of running on LNG, a project that could prove the feasibility of this type of ship.
On the infrastructure side, Singapore and Europe are developing LNG bunkering stations.
The European Commission (EC) has called for LNG bunkering across all major European Union (EU) ports by 2025.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
Popular Now More
-
Apr 23Initial Ship & Bunker analysis shows ships would need to use between 17.6% and 23.3% biofuel in B100 terms to avoid penalty charges in 2028. -
Apr 24Suppliers in South Korea are already shifting to the use of MFMs, and barge fees are likely to rise in the country as a result, a local source tells Ship & Bunker. -
Apr 24FincoEnergies has partially acquired the business operations of bunker supplier Oliehandel Klaas de Boer.