World News
Shell Takes on Ten New Gas-Powered Tankers
Global energy producer Shell has signed agreements to take on ten new gas-powered tankers.
The ten VLCCs all have dual-fuelled engines capable of running on LNG, Shell said in an emailed statement on Thursday. Four have been chartered from Advantage Tankers, three from AET and the remaining three from International Seaways.
All ten will be built in South Korea by DSME, with the first operational in 2022 and with charters lasting for seven years.
"The main engines and vessel design chosen for the ships will mean these tankers have the lowest possible methane slip and highest fuel efficiency including on average 20% less fuel consumption compared to eco VLCC vessels on the water," the company said.
"Shell continues to significantly invest in LNG for its long-term charter fleet with 14 in service by the end of 2021."
Shell forecasts global LNG bunker demand to reach 3.6 million mt/year by 2023, with 45 bunkering vessels in service.
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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