World News
Ilshin Shipping Orders LNG-Powered Bulk Carrier
Ilshin Shipping Co., Ltd (Ilshin Shipping) has placed an order with Hyundai Mipo Dockyard for a 50,000 DWT bulk carrier, which will feature a dual-fuel engine capable of burning HFO and liquefied natural gas (LNG) bunkers.
It is reported that the vessels' tanks will be made out of a novel high manganese steel, which contains about 20 percent manganese.
While the financial terms of the contract were not detailed, the vessel is said to be slated for delivery in late 2017.
The vessel is then expected to be deployed in 2018, transporting limestone from Gangwon Province to Gwangyang City.
On Wednesday, DNV GL announced that it has submitted a report to the European Union (EU) that offers guidance on how to address barriers challenging the widespread adoption of LNG as marine fuel, noting there are no longer any "major showstoppers" remaining.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 644.50 | 1.00 | 782.00 | 10.50 |
| Rotterdam | 590.00 | 10.50 | 750.50 | 9.00 |
| Houston | 608.50 | 11.00 | 777.00 | 10.50 |
| Fujairah | 643.00 | 0.50 | 891.50 | 3.50 |
| Global 20 Ports Average | 658.50 | 3.50 | 848.50 | 2.50 |
| Global 4 Ports Average | 621.50 | 5.50 | 800.50 | 3.00 |
| Global Average Bunker Price | 713.00 | 1.50 | 890.00 | 0.50 |
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