World News
CMA CGM Explores Building LNG-Fuelled Ships in India
French container shipping firm CMA CGM is exploring the construction of LNG-fuelled container vessels in India as part of its broader strategy to deepen maritime cooperation with the country.
The development was discussed during a high-level meeting in Marseille on June 12 between CMA CGM leadership and T.K. Ramachandran, Secretary at India's Ministry of Shipping, the Ministry said in a statement on its website on Saturday.
The talks follow India's Prime Minister Narendra Modi's visit to France earlier this year, where maritime collaboration was a key focus.
CMA CGM said it is in advanced discussions with Indian shipyards for the potential construction of LNG-powered vessels, aligning with India's ambitions to become a hub for shipbuilding.
The company also highlighted progress in other areas of its India strategy, including the launch of Indian-flagged vessels Vitoria and Manaus, a $200 million terminal expansion at Nhava Sheva, and engagement in the upcoming Vadhavan Port project.
CMA CGM is also exploring sourcing containers and green steel from India and establishing maritime innovation hubs across key Indian cities.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.00 | 29.50 | 659.50 | 31.00 |
| Rotterdam | 505.50 | 18.00 | 667.00 | 34.00 |
| Houston | 521.50 | 27.00 | 675.50 | 32.00 |
| Fujairah | 539.50 | 27.50 | 728.00 | 14.50 |
| Global 20 Ports Average | 559.50 | 18.00 | 744.00 | 21.00 |
| Global 4 Ports Average | 530.00 | 25.50 | 682.50 | 28.00 |
| Global Average Bunker Price | 592.00 | 13.50 | 782.50 | 14.50 |
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