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DNV Reports 14 LNG-Fuelled and 48 Methanol-Fuelled Ship Orders in July
Methanol-fuelled ship orders outstripped orders of LNG-fuelled vessels for a third straight month in July, according to classification society DNV.
The organisation noted a total of 14 LNG-fuelled ship orders and 48 orders of methanol-fuelled tonnage, including retrofits, last month, Martin Wold, principal consultant in DNV's Maritime Advisory business, said in a LinkedIn post on Thursday.
"The count for methanol fuelled ships just soared past the 200 ships mark and the container segment continues to be the main engine for the methanol train (Evergreen Line newbuilds and Hapag-Lloyd AG retrofits)," Wold said.
"For LNG it's more diverse and this month it was car carriers and large tankers driving growth.
"Another milestone was reached for LNG bunkering in July; the 100th crude tanker was confirmed."
Methanol has rapidly grown in popularity as an alternative marine fuel over the past three years, with methanol-fuelled ship orders now regularly being announced from multiple shipping segments.
LNG remains the predominant alternative fuel for now, despite fewer orders being seen in recent months, because shipowners have been ordering gas-powered tonnage for a much longer period.
The main challenge facing the LNG bunker industry now is the scaling-up of greener bio- and synthetic LNG production to meet the needs of shipowners seeking to cut the GHG emissions of their gas-powered tonnage.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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