World News
14 More LNG-Fuelled Ships Ordered in March: DNV
A total of 14 more LNG-fuelled ships were ordered last month, according to classification society DNV.
March's new orders took the total count for the first quarter to 70, the second-highest quarter on record, the company said in an emailed statement on Friday.
The recent surge in LNG prices appears not to have dented enthusiasm for gas-powered tonnage orders yet. Ship & Bunker prices show LNG priced in fuel oil terms at Rotterdam stood at $1,501/mt on March 31, up from $370/mt a year earlier, while VLSFO at the Dutch port gained $410.50/mt over the same period to $876.50/mt.
"The continued growth in the number of LNG-fuelled vessels ordered could easily have been much higher this month, and for the quarter, due to a couple of record-breaking newbuild orders reported to be imminent," Martin Wold, principal consultant in DNV's Maritime Advisory business, said in the statement.
"So things don't seem to be slowing down just yet, with many tens of vessels in the pipeline.
"However, yard capacity is growing scarce and newbuild prices are climbing, so we could soon see overall newbuild numbers slackening off.
"This would also impact the further growth in orders of LNG fuelled ships."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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