World News
Rising LNG Bunker Use Boosts Marine Tech Firm's Order Book
As liquefied natural gas (LNG)-powered ships gain popularity, United Kingdom-based cryogenic valve maker Bestobell Marine (Bestobell) says it has received a wave of orders.
Wärtsilä Corp. (Wärtsilä) has ordered Bestobell valves for AG EMS's new Helgoland ferry and for another of the company's ferries, Ostfriesland, which is being retrofitted to use LNG fuel.
Wärtsilä is also using Bestobell globe valves on two Ro-Pax ferries being built for La Société des traversiers du Québec (STQ).
Other recent orders will facilitate the construction of a Harvey Gulf offshore supply vessel (OSV), a Siem OSV, and TOTE's conversion of two vessels.
Bestobell, which is part of President Engineering Group Ltd., also announced new orders in South Korea and China, where the company says it is expanding its profile, earlier this month.
A recent study by Wood Mackenzie predicted that LNG bunkers will represent 10 percent of the marine fuels market by 2030.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 644.50 | 2.50 | 765.00 | 14.00 |
| Rotterdam | 607.50 | 0.50 | 764.50 | 24.50 |
| Houston | 632.50 | 4.00 | 807.50 | 5.00 |
| Fujairah | 650.50 | 1.00 | 882.50 | 6.00 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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