World News
Dry Bulk Shows Growing Interest in Methanol Bunkering
Interest in methanol bunkering is growing in the dry bulk segment, with the first significant order being placed for methanol-fuelled bulker tonnage.
Commodities firm Cargill has partnered with Mitsui & Co to order two methanol-fuelled Kamsarmax bulkers, maritime news publication Lloyd's List reported last week. The order was signed last month, and the two dual-fuelled vessels are due for delivery by the end of 2025 and early 2026.
A Cargill representative told Ship & Bunker in October that the firm was planning to be operating a methanol-fuelled bulker within a few years.
The order is one of the first signs of interest in methanol bunkering from dry bulk. Another key development came last month as mining firm Vale issued a request for proposals from shipping companies for contracts of affreightment for a new generation of methanol-fuelled Guaibamax very large ore carriers.
Interest in methanol as a marine fuel has grown rapidly over the past two years. But that interest has thus far come largely from the container segment -- between them AP Moller-Maersk, CMA CGM and COSCO currently have 666,100 TEU of methanol-fuelled boxships on order, representing just over 2.5% of current global container capacity.
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 |
Popular Now More
-
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 20The ISO 6853:2024 specifications, the first of their kind, cover the general requirements and properties for methanol specifically being used as marine fuel. -
Nov 21CTI-Maritec reports on undeclared quantities of cashew nut shell liquid found in VLSFO samples from Rotterdam and Singapore.