World News
Solstad-SBM JV Orders Methanol-Ready Offshore Installation Vessel
A joint venture between Solstad Offshore and SBM Offshore has ordered an offshore installation and construction vessel suitable for conversion to methanol propulsion.
The order has been placed with China's CIMC Raffles, the shipbuilder said in a LinkedIn post on Tuesday.
The vessel will be owned by the newly formed joint venture, in which Solstad holds a 50.1% stake and SBM Offshore 49.9%, and will operate under an initial 14-year charter agreement with SBM Offshore.
Methanol is seen as one of the more practical alternative fuels because it can be handled using relatively familiar infrastructure compared with some other emerging marine fuels.
Several shipowners have ordered and taken delivery of methanol-ready vessels in recent years, but most are still operating on conventional fuels and have yet to be retrofitted for methanol use.
The vessel is expected to be delivered in the first half of 2029.
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| VLSFO | MGO | |||
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| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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