World News
Duel-Fuel Gas Carrier Upgrades Too Expensive for Dorian LPG
Dorian LPG has found the cost of converting its very large gas carriers to be capable of running on LPG as well as conventional bunker fuels too high, according to price reporting agency S&P Global Platts.
The company's research has shown converting the main engines to duel-fuel technology would involved "significantly higher" capital expenditure than the investment would be worth, Platts reported Friday, citing comments from chief financial officer Ted Young.
The cost would be more than three times that of scrubber retrofits, Platts cited Young as saying.
The company already has ten ships fitted with scrubbers, and expects to install another two in the coming months.
In February BW LPG said it had exercised an option to retrofit four more of its very large gas carriers (VLGCs) with duel-fuel engines capable of LPG-fuelled propulsion, with the retrofits due for completion in the second half of next year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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