World News
CMA CGM Shifts Boxship Order From Methanol Propulsion to LNG
French container line CMA CGM has reportedly shifted a recent boxship order from methanol-fuelled propulsion to LNG.
The firm's September order of eight 9,200 TEU container ships from Shanghai Waigaoquao Shipbuilding will now come with LNG propulsion rather than methanol, gas publication LNG Prime reported, citing shipbuilding sources.
CMA CGM was a significant early backer of LNG bunkering, with its orders of LNG-fuelled boxships doing much to bring about the emergence of the LNG bunker market. But the firm has also more recently made several orders of methanol-fuelled tonnage, following AP Moller-Maersk's lead.
Methanol is rapidly gaining in popularity as an alternative marine fuel, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 0.00 | 673.00 | 0.00 |
| Rotterdam | 514.50 | 0.00 | 651.00 | 0.00 |
| Houston | 545.00 | 0.00 | 671.00 | 0.00 |
| Fujairah | 543.00 | 0.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.00 | 748.00 | 0.00 |
| Global 4 Ports Average | 539.00 | 0.00 | 685.50 | 0.00 |
| Global Average Bunker Price | 627.00 | 0.50 | 799.50 | 1.00 |
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