World News
Euronav Orders Third Ammonia-Ready VLCC
Tanker company Euronav has ordered its third VLCC suitable for conversion to ammonia propulsion.
The firm has added a third VLCC to its order of two ammonia-ready vessels made earlier this year from Qingdao Beihai in China, it said in a statement on its website on Thursday.
The ammonia-ready notation typically means the vessel's design has incorporated enough space for the larger fuel tanks needed for ammonia as a bunker fuel, meaning it can be retrofitted to ammonia propulsion at a later date.
The vessel is due for delivery in the fourth quarter of 2026. The company has also ordered two conventionally fuelled Suezmax tankers from Daehan Shipbuilding in South Korea.
"We are very happy to extend our series of ammonia-powered VLCCs at Qingdao Beihai," Alexander Saverys, CEO of Euronav, said in the statement.
"We now have three state-of-the-art VLCCs on order that are attractively priced and will deliver within 2026."
Ammonia is widely expected to take up a significant share of future marine energy demand because of its lack of associated carbon emissions. But further research and development work will need to be completed first looking into how its toxicity can be managed when handling it as a bunker fuel.
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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