World News
Pacific Basin Switches Bulker Order From Alternative-Fuelled to Conventional Design
Shipping firm Pacific Basin has changed an order of new dry bulk carriers to remove the ability to run on alternative fuels, citing delays on global GHG regulation as delivering increased uncertainty.
The firm has replaced an existing order of four dual-fuel Ultramax vessels to an order of four conventionally-fuelled ships of the same size, it said in a LinkedIn post on Thursday.
"This change significantly reduces unnecessary near-term capital expenditure and is a financially prudent response to renewed uncertainty around the timing and final shape of a global regulatory framework to drive the maritime green fuel transition, following the failure to adopt IMO’s previously agreed Net-Zero Framework in October 2025 amid political divisions between member states," the company said.
"The agreements also include an option to acquire two dual-fuel (methanol/fuel oil) Ultramax newbuildings, giving us flexibility to re-enter the LEV market later, should regulatory clarity improve."
The company did not set out exactly which order was altered. But in November 2024 the firm ordered four 64,000 DWT ships capable of running on methanol from Nihon Shipyard Co in Japan.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 913.50 | 2.00 | 1254.00 | 24.50 |
| Rotterdam | 740.50 | 5.00 | 1392.50 | 2.50 |
| Houston | 767.50 | 3.50 | 1384.50 | 21.50 |
| Fujairah | 967.00 | 3.50 | 1606.50 | 117.50 |
| Global 20 Ports Average | 903.50 | 5.50 | 1525.00 | 8.50 |
| Global 4 Ports Average | 847.00 | 2.00 | 1409.00 | 42.00 |
| Global Average Bunker Price | 954.50 | 4.00 | 1601.00 | 0.00 |
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