World News
HHI Books Order for 12 LNG-Fuelled Boxships from European Shipowner
South Korea's HD Hyundai Heavy Industries (HHI) has secured orders worth KRW 3.716 trillion ($2.56 billion) for the construction of 12 LNG-fuelled boxships.
HHI has not disclosed the identity of the buyer, stating only that the vessels were ordered by a European shipowner on January 22.
All 12 vessels will be constructed at South Korea's Ulsan, with deliveries starting from December 2028, HHI said in a social media post.
Classification Society DNV also noted that 12 LNG-fuelled vessels were ordered in January.
Container lines continue to place orders for LNG-fuelled boxships. In October 2024, the German container line Hapag-Lloyd placed orders worth $4 billion for 24 LNG-fuelled boxships.
As of now, the global LNG-fuelled fleet stands at 657 vessels, with container ships accounting for 150 of them, according to DNV data.
While there are concerns about the environmental impact of the growing LNG fleet, particularly regarding methane slip, these vessels can be powered by bio-LNG, a cleaner alternative to fossil-based LNG.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 582.00 | 2.00 | 696.50 | 3.00 |
| Rotterdam | 558.00 | 2.50 | 677.00 | 0.50 |
| Houston | 563.00 | 3.50 | 724.00 | 2.00 |
| Fujairah | 575.50 | 5.00 | 775.50 | 3.50 |
| Global 20 Ports Average | 605.50 | 0.00 | 783.00 | 4.00 |
| Global 4 Ports Average | 569.50 | 3.00 | 718.00 | 1.50 |
| Global Average Bunker Price | 649.00 | 1.50 | 826.00 | 3.50 |
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