World News
Cosco Shipping Energy Transportation Orders 6 Methanol Fuelled Tankers
Cosco Shipping Energy Transportation has ordered six methanol-fuelled crude oil tankers, comprising of three Aframax, two Panamax, and one MR tanker.
The deal was concluded on December 29, 2023 by the firm's Hainan-based tanker subsidiary, Hainan COSCO Shipping Energy, and is valued at RMB2,918 million ($410 million), according to the filing on the Hong Kong stock exchange.
COSCO SHIPPING Heavy Industry (Yangzhou) will build the three dual-fuel 114,200 DWT Aframax vessels with delivery of one vessel expected to take place in each of December 2026, September 2027, and November 2027.
COSCO SHIPPING Heavy Industry (Dalian) will build the remaining vessels, with the two 64,900 DWT Panamax tankers slated for delivery in October 2026 and December 2026, and the 49,900 DWT MR Tanker set for a November 2026 delivery.
If nothing else, the deal adds to the already impressive backing for methanol bunkers by shipowners, with last year witnessing over 150 methanol-fuelled vessels ordered to bring the total number of methanol-fuelled vessels on order to over 200.
In response to the growing interest in methanol bunkers, Ship & Bunker last month launched methanol bunker price indications for the key marine fuel hubs of Singapore, Rotterdam, Houston, and Fujairah.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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