World News
HMM Mulling Mega-Box Ship Orders
South Korean shipping company Hyundai Merchant Marine (HMM) has said that it intends order super-sized box ships although it is unlikely to run them on liquified natural gas (LNG) bunker fuel.
CMA CGM ordered a clutch of 22,000 twenty foot equivalent (teu) newbuilds to run on the alternative marine fuel but an HMM spokesman told maritime news provider Lloyd's List that HMM would probably not follow suit.
LNG-fuelled ships cost more to build and the fuelling infrastructure for LNG bunker fuel is still lacking, the spokesman was reported as saying.
Nevertheless, the company could order between 10 and 12 vessels of 22,000 teu in the future.
HMM controls just under a 100-strong fleet with one fifth owned and rest chartered in. Over half the fleet comprises containerships.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 8.50 | 779.00 | 29.50 |
| Rotterdam | 608.00 | 11.00 | 764.50 | 24.50 |
| Houston | 636.50 | 8.00 | 807.50 | 5.00 |
| Fujairah | 649.50 | 4.00 | 888.50 | 11.50 |
| Global 20 Ports Average | 665.50 | 6.50 | 870.50 | 14.50 |
| Global 4 Ports Average | 635.50 | 3.50 | 810.00 | 17.50 |
| Global Average Bunker Price | 725.00 | 2.50 | 925.50 | 8.00 |
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