World News
CMA CGM, Total Sign Second Major LNG Bunker Supply Deal
Box shipping giant CMA CGM has signed a second major LNG bunker supply deal with Total.
The agreement will see the supply of approximately 270,000 tonnes per year of LNG as fuel over 10 years at Marseille-Fos.
The fuel will be for CMA CGM's future 15,000-TEU container ships that will operate between Asia and the Mediterranean, and that are scheduled for delivery starting in 2021.
The deal follows the similar 10 year deal signed in 2017 for the supply of 300,000 mt per annum of LNG bunkers to CMA CGM's series of nine 23,000-TEU containerships.
The first of those, CMA CGM Jacques Saadé, was launched in September.
At a combined 570,000 mt/year, the agreements between the French firms represent by far the biggest commitments to LNG bunkers to date.
For comparison, Rotterdam's entire LNG bunker sales over the first three quarters of this year total 22,747 mt.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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