World News
LNG Marine Fuel Gaining Ground in Newbuild Decisions: Survey
A maritime industry survey has found an appetite for liquified natural gas (LNG) marine fuel for ship newbuildings.
The survey, which was conducted by German trade fair organiser Hamburg Messe & Congress, canvassed maritime opinion on a range of issues including the choice of bunker fuel for newbuilds. But on that topic, it found respondents warming towards the alternative fuel.
"The industry is homing in on LNG as an alternative to conventional ship fuels," the survey said.
"44% of respondents said LNG is their first choice when contemplating ship newbuilding orders. But hybrid solutions based on marine diesel are likewise popular."
The survey's finding were based on the views of 2,500 respondents across 69 countries.
LNG as marine fuel is seen as a potential substitute for oil-derived fuel oil. However, the lack of a comprehenisve infrastructure able to supply the fuel to shipping is seen as one of the main constraints against the take up of LNG.
Increasingly, market observers are talking about a multi-fuel market where a number of alternatives to high sulfur fuel oil are taken onboard by shipowners and operators.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 648.00 | 2.00 | 808.00 | 10.00 |
| Rotterdam | 613.50 | 4.50 | 792.00 | 21.50 |
| Houston | 646.00 | 3.00 | 851.00 | 13.50 |
| Fujairah | 647.50 | 1.50 | 900.00 | 0.50 |
| Global 20 Ports Average | 672.50 | 0.50 | 896.50 | 0.50 |
| Global 4 Ports Average | 638.50 | 2.00 | 838.00 | 4.00 |
| Global Average Bunker Price | 727.00 | 2.00 | 943.00 | 2.00 |
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