World News
LNG Box Ship Savings "$10 per TEU"
Thursday November 28, 2013
Compared to regular bunker fuel, cost savings for a liquified natural gas (LNG)-powered box ship would be around $10 per twenty-foot equivalent unit (TEU), according to the calculations of David Bull, a Senior Consultant at Ocean Shipping Consultants, reported by IAA PortNews.
Speaking at eighth annual international congress Oil Terminal held in Saint-Petersburg, Russia, Bull said based on current LNG prices in South Korea, ocean-going container carriers could achieve savings of about $9-$12 per TEU on the South Korea - Rotterdam route.
A feeder service carrier could save about $5 per TEU, he added.
United Arab Shipping Company (UASC) earlier this year said the 18,000 TEU Triple-E class box ships it has on order will be LNG ready.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
Popular Now More
-
Apr 23Initial Ship & Bunker analysis shows ships would need to use between 17.6% and 23.3% biofuel in B100 terms to avoid penalty charges in 2028. -
Apr 24Suppliers in South Korea are already shifting to the use of MFMs, and barge fees are likely to rise in the country as a result, a local source tells Ship & Bunker. -
Apr 24FincoEnergies has partially acquired the business operations of bunker supplier Oliehandel Klaas de Boer.