World News
Pacific International Lines Orders LNG-Fuelled Boxships
Container shipping company Pacific International Lines (PIL) has ordered two new LNG-fuelled boxships.
The firm has ordered two dual-fuelled 16,000+ TEU vessels from China's Jiangnan Shipyard, with the option to order two more, shipping intelligence service Alphaliner said in its weekly newsletter on Wednesday.
The ships will be the largest PIL has ever owned, and its first with LNG propulsion, according to the report.
The vessels are expected to costs $160 million each and be delivered in the second half of 2024.
The order adds to LNG's growing market share as an alternative bunker fuel, with container shipping being one of the main segments taking on this technology. A record 240 ships capable of using LNG as fuel were ordered last year, according to classification society DNV.
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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