World News
Odfjell Considering LNG Bunkers
Odfjell SE says it is looking at the use of liquefied natural gas (LNG) bunkers for compliance with IMO 2020 sulfur regulations.
In comments made to Tradewinds this week, CEO Kristian Mørch said that while retrofitting existing vessels to use LNG bunkers was not realistic, it is seriously considering LNG as well as the use of other alternatives as part of its upcoming newbuilding projects.
The owner is looking to grow its fleet from the current 86 to 100 vessels.
Earlier this year, Mørch dismissed the idea of using scrubbers as a compliance route, believing that overall the technology does not make sense and a complaint fuels-based approach is best.
But like many in the industry, the recent "bad bunker" problems of the summer have raised concern over potential quality problems with the new breed of IMO 2020 fuels coming into the market, and Odfjell has been testing such fuels as part of its preparations for IMO 2020.
The new global 0.50% sulfur cap on marine fuel comes into force from January 1, 2020.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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