World News
Ferry and Offshore Sectors Dominate Growth of LNG-Fuelled Fleet
The number of ships using liquified natural gas (LNG) as an alternative for oil-derived bunker fuel has reached 218 with ferries and offshore the most likely candidates, according to IHS Markit.
The latest report from the marine analyst shows that the main sectors for LNG-fuelled vessels are offshore vessels and ferries while most ships capable of running on the alternative fuel are of a smaller size at under 10,000 gross tonnes.
A further 123 vessels and LNG-ready with box ships the biggest segment in this category, according to the analyst.
The total number was LNG-ready vessels was given a boost by a recent 10-ship order for very large ore carriers.
LNG is seen by many in the shipping industry as a viable alternative to conventional bunker fuel. However, its develoment faces a number of constraints not least among which is the lack of a substantial LNG fuelling infrastructure.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25Government investigating after test results altered 'to make the fuel consumption data look better'. -
Apr 26The company is looking for candidates with bunker trading professional certifications and at least six years of experience in a similar role.