World News
First Methanol-Fuelled X-Press Feeders Boxship Launches
The first methanol-fuelled boxship in the X-Press Feeders fleet has been launched from its shipyard in China.
The dual-fuelled boxship Eco Maestro launched on Thursday, and will now undergo machinery tests for the next few months, X-Press Feeders said in a LinkedIn post on Monday.
The ship will embark on its maiden voyage in Europe in the second quarter of 2024, and the company will have 14 ships of its type in service by the third quarter of 2026.
"Powered by cutting-edge dual-fuel engines that can switch between conventional fuel and green methanol, the ECO MAESTRO stands as a testament to our commitment to achieve net zero emissions by 2050," the company said.
"We're proud to be the first independent common carrier company globally to introduce dual-fuel ships."
In July the company announced it had signed a deal with OCI Global to supply its fleet with green methanol from 2024.
Methanol is rapidly gaining in popularity as an alternative marine fuel, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.
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 |
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