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 | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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