World News
Carnival Continues to Back LNG Bunkers for New Builds
Despite methanol's recent meteoric rise in popularity, Carnival Corporation & plc [NYSE/LSE: CCL; NYSE: CUK] is continuing to back LNG bunkers to power its new build orders.
The cruise giant this week announced it has placed its second order of 2024, following the first order of 2024 made last month - the company's first newbuild order to be placed in five years.
Both orders are for 180,000-ton LNG-powered Excel-class ships that are designed to carry over 6,400 guests and 1,800 crew.
Both the February and March ordered vessels will be built by Meyer Werft shipyard for delivery in 2027 and 2028 respectively.
They will be Carnival's fourth and fifth Excel-class cruise ships.
Carnival has been at the forefront of adopting LNG as marine fuel having placed its first orders for the alternatively powered vessels back in 2015 - well before the current period of popularity for gas bunkers.
While LNG today remains the most popular oil-bunker alternative in terms of total orders placed, 2023 marked a turning point for the industry as methanol became the most popular alternative fuel choice for new contracts.
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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