World News
CMA CGM: Considering More Gas-Fuelled Newbuilds
French box shipping line CMA CGM is considering ordering more ships that would use liquified natural gas (LNG) as their primary bunker fuel.
The company made headlines in November when it ordered nine 22,000 twenty-foot equivalent vessels fuelled by the alternative bunker fuel.
Any new orders would be for smaller ships, according to maritime news provider Tradewinds.
The cost of building LNG-fuelled ships is more than the cost of building ships using conventional oil-derived bunker fuels.
South Korean box ship operator Hyundai Merchant Marine, which is also thinking about newbuild orders, has said that the extra cost of the LNG-fuelled option would put it off ordering gas-fuelled ships.
The lack of LNG infrastructure, which is often cited as a stop on LNG bunker fuel's developmen,t is another reason for HMM to plumb for conventional fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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