World News
Baleària Makes $70 million Bet on LNG Bunkers
Monday July 30, 2018
Baleària today said it will spend 60 million euros ($70.2 million) to covert five of its ferries to use liquefied natural gas (LNG) bunkers.
Work on the five vessels, Naples, Abel Matutes, Sicily, Bahama Mama, and Martín i Soler, will begin this winter and is expected to be completed within two years.
Baleària president Adolfo Utor says in three years the company plans to have a total of nine ships sailing on LNG bunkers.
2018 has so far been a very successful year for LNG bunkers, with advocates in June saying its rise to be the dominant marine fuel was now inevitable.
However, with the industry's IMO 2050 emissions reduction target now set, pushback over the alternative fuel's performance on GHG's has also grown in recent months.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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