World News
Shipping Players Collaborating on LNG-Fuelled Containership Plan
Lloyd's Register of Shipping is working with Capital Ship Management and Daewoo Shipbuilding & Marine Engineering (DSME) on the development of a 14,000 twenty-foot equivalent (TEU) ship fuelled by liquefied natural gas (LNG), industry news site the Motorship reports.
The three parties will investigate the technical requirements, costs, and safety factors that would be involved in such a ship.
LR will provide independent verification of Capital Ship Management's sustainability initiatives including the exploration of LNG and other alternative marine fuels.
Capital Ship Management Chairman Evangelos Marinakis said the company is looking to new technologies to make its ships more efficient and attractive to customers.
"Capital Ship Management strongly believes that the benefits of lower SOx, NOx and, potentially, reduced greenhouse gas emissions makes LNG as a marine fuel an attractive option," he said.
"We think that competitive LNG pricing and an adequate global LNG bunkering infrastructure could be a reality within five to ten years.
"We want to be ready and we welcome the broad support that our partners LR and DSME can provide in helping us develop more sustainable shipping solutions."
Wärtsilä Corp. (Wärtsilä) predicted earlier this year that LNG will dominate the containership market by 2024.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 523.00 | 7.50 | 685.00 | 7.50 |
| Rotterdam | 518.50 | 2.00 | 728.00 | 5.00 |
| Houston | 496.50 | 0.50 | 701.50 | 1.50 |
| Fujairah | 516.50 | 5.50 | 732.50 | 1.50 |
| Global 20 Ports Average | 554.00 | 3.50 | 779.00 | 6.50 |
| Global 4 Ports Average | 513.50 | 4.00 | 712.00 | 1.00 |
| Global Average Bunker Price | 590.50 | 4.50 | 820.00 | 4.00 |
Popular Now More
-
Jul 11The firm sold more than one million mt of marine fuels in Singapore in 2024. -
Jul 11The ship was built in 2008 and came to Singapore earlier this month after previously visiting Taiwan and China. -
Jul 10CEO Carsten Ladekjær said the firm will adapt to new changes in the fast-changing market.