World News
Methanol-Fuelled Vessel Orders Outpaced LNG Again in October
Orders of ships capable of running on methanol outnumbered those with LNG propulsion again in October, according to the latest figures from classification society DNV.
DNV data show six ships capable of running on LNG were ordered last month, compared with 14 methanol-fuelled vessels, the company said in an emailed statement on Friday.
The firm also noted for the first time the order of two ships capable of running on ammonia.
"Finally, we have order confirmation on the first ocean going vessels with ammonia propulsion," Martin Wold, principal consultant in DNV's Maritime Advisory business, said in the statement.
"This simplifies the chicken and egg dilemma related to fuel availability versus demand.
"It also addresses crew training, as crew will already be trained specifically on gas and ammonia carriers, so this does not become an extra burden or risk to manage.
""Furthermore, we see that the drivers for alternative fuels in general, and the push for ammonia as a fuel in particular, compared to what was the case in the early days for LNG and methanol respectively, are much stronger at this stage of the industry development.
"So, we will see orders for other ship types even before we get operational experience from gas carriers using ammonia as a fuel."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 560.50 | 7.00 | 669.00 | 4.00 |
| Rotterdam | 512.50 | 2.00 | 653.00 | 2.00 |
| Houston | 548.00 | 3.00 | 671.00 | 0.00 |
| Fujairah | 549.00 | 6.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 577.50 | 3.50 | 749.50 | 1.50 |
| Global 4 Ports Average | 542.50 | 3.50 | 685.00 | 0.50 |
| Global Average Bunker Price | 628.50 | 1.50 | 800.50 | 1.00 |
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