World News
Algoma Orders Two Methanol-Ready Product Tankers
Shipping and logistics firm Algoma Central Corporation has ordered two refined product tankers suitable for retrofit to methanol propulsion.
The two 37,000 DWT ships will be classed by ABS with its methanol-ready notation, ABS said in a statement on its website on Tuesday.
The notation typically means enough space has been incorporated into the design to fit the larger fuel tanks needed for methanol, meaning the ships can be retrofitted to methanol propulsion sometime after delivery.
The tankers will be deployed on long-term charters trading primarily from Saint John, New Brunswick, with deliveries to ports in Atlantic Canada and the US East Coast.
"The methanol-ready Kamsarmax vessels will support Algoma's decarbonization efforts with the new ships designed to exceed EEDI Level III requirements and to include Tier 3 engines," ABS said in the statement.
"The vessels are expected to be 40 percent more efficient than the ships they will replace, owing to a combination of fuel efficiency and optimized cargo lift."
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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