World News
MPC Capital Orders Four 'Methanol-Ready' Container Ships
Investment firm MPC Capital has ordered four new 'methanol-ready' boxships.
The 5,500 TEU ships will be built by South Korean shipyard Hanjin and will be delivered from the second quarter of 2023, the company said in a statement on its website on Monday.
"We are convinced that the demand for new container ships with favourable specifications, a low consumption and high environmental ranking will increase," Christian Rychly, managing director of shipping at MPC Capital, said in the statement.
"The orderbook in this size segment is fairly low and 80% of the vessels in the water today are non-eco ships.
"At the same time the positive momentum in the container market continues."
The 'methanol-ready' notation the vessels have means they will be suitable for conversion to methanol propulsion at a later date. Typically these sorts of notations mean the ships have enough space incorporated into the design to accommodate the larger fuel tanks needed for lower-density fuels.
The company has not set out why it has opted for this, rather than ordering tonnage that is capable of running on methanol directly upon delivery. Retrofitting the vessels to methanol propulsion at a later date would be likely to involve considerable extra costs and inconvenience.
AP Moller-Maersk has 13 methanol-fuelled container ships due for delivery between 2023 and 2025, which will represent about 4.5% of its current container capacity.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| 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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