World News
TOTE Completes First Phase of Vessel Conversion to LNG-Fuelled Propulsion
TOTE Maritime Alaska (TOTE) says it has completed the first of four conversion periods for its Orca class vessels, which will enable the ships to use liquefied natural gas (LNG) as fuel.
The company explains LNG tanks and critical engine updates necessary to utilise LNG as a fuel were completed during the initial phase of the planned four year process.
TOTE Maritime's vessel North Star arrived in Anchorage on Sunday after completing its first voyage with two LNG tanks fitted behind the ship’s bridge.
"We are excited to be the first shipping company in the United States to undertake this important environmental effort" said Mike Noone, President of TOTE Maritime Alaska.
"We are appreciative of our customers and partners who support our ongoing effort to innovate in ways that reflect our commitment to the environment and communities we serve."
Three more conversion periods will be required to finalise the transition of TOTE Maritime Alaska’s vessels to utilise LNG as fuel.
Each conversion period is slated to take place during the winter to minimise business disruption, with the conversion of both ships scheduled to be complete in Q1 of 2021.
In January, Philly Shipyard ASA (PSI) said it would not extend its letter of intent (LOI) with TOTE Inc., putting the previously announced construction and sale of up to four "state-of-the-art, cost-effective and eco-friendly" newbuilds on hold.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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