World News
Wärtsilä Wins First Methanol Engine Order
Marine engineering company Wärtsilä has won its first order to build methanol-fuelled ship engines.
The company will deliver five engines and the methanol fuel supply system for an offshore wind installation vessel being built for Netherlands-based Van Oord, it said in a statement on its website this week. The equipment is due for delivery early next year.
"The methanol engine order extends Wärtsilä's leading position in support of the maritime industry's decarbonisation ambitions, and in the use of the fuel," the company said in the statement.
"Wärtsilä has over half a decade's experience with methanol, having converted the first of four engines on Stena Germanica to use the fuel in 2015."
Container shipping giant AP Moller-Maersk is set to be the largest early user of methanol as a marine fuel, with 13 methanol-fuelled boxships on the way before 2026. These ships will represent about 4.5% of its current container capacity.
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| 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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