World News
Pacific Basin Orders Four Fuel-Efficient Vessels
Dry bulk shipping firm Pacific Basin Shipping has ordered four vessels from Jiangmen Nanyang Ship Engineering featuring fuel-efficient technology.
The 40,000 dwt vessels were ordered at a total value of about $119.2 million, Pacific Basin said in a press release last week.
The vessels will feature a modern, fuel-efficient open-hatch design. They will be fitted to carry log cargoes, offering lower bunker fuel consumption and greater cargo-carrying flexibility than earlier standard handysize designs.
The order doubles Pacific Basin's current newbuilding programme, which also includes four dual-fuel ultramax vessels announced in November 2024.
However, the company opted for conventionally powered vessels, citing the lack of proven dual-fuel designs in this segment and uncertainty following the postponement of the IMO's planned Net Zero Framework.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 435.50 | 1.00 | 604.50 | 10.00 |
| Rotterdam | 401.00 | 2.00 | 602.50 | 3.00 |
| Houston | 415.50 | 5.00 | 594.50 | 10.00 |
| Fujairah | 430.50 | 0.50 | 718.00 | 0.00 |
| Global 20 Ports Average | 462.00 | 1.00 | 712.50 | 2.50 |
| Global 4 Ports Average | 420.50 | 1.00 | 630.00 | 5.50 |
| Global Average Bunker Price | 513.50 | 0.50 | 761.00 | 1.00 |
Popular Now More
-
Dec 22This industry is about relationships. Will AI strengthen or replace them? -
Dec 29Regulatory uncertainty and the absence of proven dual-fuel handysize designs led Pacific Basin to opt for conventionally powered ships. -
Dec 24Maritime Recruitment Company Ltd is seeking candidates for bunker roles in the UK, US, Singapore and at the ARA hub, Vernon Jayanathan tells Ship & Bunker.