World News
Total: CMA CGM Supply Deal Equivalent to 75% of Today's LNG Bunker Demand
Total Marine Fuels Global Solutions (TMFGS) has hailed the significance of its recent agreement to supply liquefied natural gas (LNG) bunker fuel to CMA CGM, highlighting that the 300,000 tonne per year deal is equivalent to about 75% of today's LNG bunker demand, which it estimates at 400,000 tonnes per year.
"Total is now a major player," TMFGS Chief Executive Officer Olivier Jouny declared in comments published alongside news of the deal.
And while Jouny stressed that TMFGS will continue to supply a range of multifuel solutions, including heavy fuel (HFO) and marine gas oil (MGO), LNG bunkers are now the "main focus."
As Ship & Bunker reported earlier this week, Total will supply the French box ship operator's 22,000 twenty-foot equivalent (TEUs) capacity newbuild vessels with 300,000 metric tonnes of LNG per year for ten years.
Total says the deal is a "watershed for the future of LNG as a marine fuel."
"The agreement serves our ambition for several reasons. To start with, we will be the first company to supply LNG to container ships of this size," said Jouny.
"Total will be a pioneer in the field, taking advantage of CMA CGM's trailblazing choice to operate its ships on gas."
Total has also agreed in principle to supply the oils and lubricants for all nine vessels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 0.00 | 665.50 | 1.00 |
| Rotterdam | 512.00 | 3.00 | 663.00 | 0.50 |
| Houston | 545.50 | 3.00 | 666.00 | 9.50 |
| Fujairah | 560.50 | 0.00 | 743.50 | 1.50 |
| Global 20 Ports Average | 584.00 | 1.00 | 751.50 | 2.00 |
| Global 4 Ports Average | 547.50 | 0.00 | 684.50 | 2.50 |
| Global Average Bunker Price | 633.50 | 0.50 | 805.50 | 0.00 |
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