World News
Zim Agrees Charters on LNG-Fuelled Newbuilds
In a further sign of liquified natural gas's growing prominence as an alternative marine fuel, box ship operator Zim has agreed 12-year charters for ten LNG-fuelled box ships.
Zim said the vessels would be deployed on the Asia-US east coast trade, where it has a vessel-sharing agreement with the 2M Alliance, according to maritime news provider the Loading Star.
The introduction of the dual-fuel ships would allow the carrier to "meet growing market demand" on the route as well as "meeting customer demand to reduce CO2 emissions", the firm's president and chief executive, Eli Glickman, was quoted as saying.
The ten-ship order by shipping company Seaspan was reported by Ship & Bunker four days ago.
The vessels are expected to come into service in two years' time.
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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