World News
KSOE Takes on $627 Million Order for 10 LNG-Fuelled Container Ships
Korea Shipbuilding & Offshore Engineering (KSOE) is set to build 10 LNG-fuelled container ships for an unidentified company in Europe.
The company won the $626.7 million order to build the vessels at the Hyundai Mipo Dockyard, South Korea's Yonhap News Agency reported on Tuesday. The 2,000 TEU ships will be delivered from the second half of 2024.
Nearly half of the shipbuilding firm's order book for this year is currently for ships fuelled by LNG, LPG and methanol.
LNG bunkering has proved a popular choice so far for shipowners seeking to start addressing their carbon footprint while ordering new tonnage. But LNG has also faced widespread criticism as being another fossil fuel, and the long-term viability of these ships will be reliant on supplies of lower-carbon bio- and synthetic LNG becoming available at a competitive price.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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