World News
NYK Set to Begin LNG-Fuelled Bulk Carrier Project
NYK is pressing ahead with plans to build a liquefied natural gas (LNG)-fuelled post-panamax bulk carrier.
The operator said Wednesday it has had an R&D plan on the project it jointly presented with Oshima Shipbuilding Co. Ltd. approved by Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT).
The four-year project is planned to run from next month until March 2022 and is the latest in a number of LNG projects NYK is involved in.
"To date, the NYK Group has promoted the practical use of LNG as an environment-friendly fuel by constructing and operating the world’s first LNG-fueled car carrier and the world’s first purpose-built LNG bunkering vessel, as well as developing an LNG-fuel sales business," the company said.
Earlier this month, LNG advocacy group SEA\LNG said Japan as a whole was a "growing area of importance" for LNG-fuelled shipping and bunkering.
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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