World News
Methanol Makes Strong Return with 12 Vessel Orders in March: DNV
Methanol has made a comeback in the alternative-fuelled vessel orderbook after no orders were recorded in January and February.
Out of the total 25 alternative-fuelled vessels ordered in March, 12 vessels were methanol-capable, Kristian Hammer, product manager AFI and senior consultant at classification society DNV, said in a LinkedIn post on Monday.
This was followed by seven LNG, four LPG and two ammonia-capable vessels.
For the methanol vessels, four were from the tanker segment, three each from the cruise and car carrier sectors, and one each from the bulk carrier and offshore segments, totalling 12 orders.
"Methanol leads the charge, bouncing back from a quiet winter to account for 12 of these orders," Hammer noted.
The two ammonia-capable vessels were ordered from the tanker segment.
"While ammonia is still in the early stages of its journey as a maritime fuel, orders like this underline its viability and help to build momentum," Hammer said.
12 and 34 alternative-fuelled vessel orders were recorded by DNV in January and February, respectively.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 538.00 | 6.50 | 667.50 | 6.00 |
| Rotterdam | 504.00 | 3.00 | 673.50 | 10.00 |
| Houston | 533.50 | 3.50 | 685.50 | 2.50 |
| Fujairah | 534.00 | 4.50 | 748.50 | 2.00 |
| Global 20 Ports Average | 565.00 | 4.50 | 765.50 | 6.50 |
| Global 4 Ports Average | 527.50 | 2.50 | 693.50 | 5.00 |
| Global Average Bunker Price | 597.50 | 2.50 | 795.50 | 4.00 |
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