World News
Shell Inks Time-Charter Agreements for Two LNG-Powered Aframax Tankers from SCF Group
PAO Sovcomflot (SCF Group) today announced that it has signed time-charter agreements with Shell for two liquefied natural gas (LNG)-fuelled Aframax tankers.
The company says the agreements "mark a historic turning point that set new environmental standards for the global tanker industry."
As Ship & Bunker reported in November, Sovcomflot ordered six dual-fuel Aframax tankers able to run on LNG bunker fuel.
The time charter agreements were signed today in London by Evgeny Ambrosov, Senior Executive Vice-President of SCF Group, and Mark Quartermain, Vice-President of Crude Trading for Shell.
The two tankers will be on time charter to Shell for a minimum of five years, up to 10 years, operating within Shell's global freight trading network.
"The vessels will also use Shell's specialised LNG bunker vessels, such as the Cardissa, for fuelling in North West Europe. Shell will provide further supply points across North West Europe and the Baltic as it expands its LNG fuelling infrastructure," noted SCF Group.
Quartermain, commenting on the new agreements, said: "LNG fuel will play a fundamental role in the future energy mix. Chartering and fuelling these vessels highlights Shell's commitment to LNG as emissions standards tighten. We look forward to continuing to build upon our strong relationship with SCF to support our trading operations in key areas."
As previously reported, the six ships ordered by SCF Group will be delivered in 2018-2019.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25The new hire was previously a marine fuel trader for Vilma Oil in Madrid from June 2017 to last month. -
Apr 24The arrests were both on Monday.