World News
Expandable LNG Fuel Tank to Offer Five Times More Capacity Than Existing Models
Kawasaki Heavy Industries, Limited (Kawasaki) has developed an adjustable liquefied natural gas (LNG) fuel tank it says is capable of storing up to five times more LNG than current available models, Asian media reports.
While most tanks currently on the market are noted to be barrel-shaped and capable of holding less than 2,000 cubic metres (cbm), Kawasaki's new box-shaped tank is able to carry between 2,000 cbm to 10,000 cbm of LNG.
The tank is also said to feature dividers that boost resistance to turbulence within the tank.
Kawasaki is reported to be planning to spend a year on the commercialisation of the tank, which it intends to be used on container and car carriers that conduct long-distance shipping operations.
The company's design is said to be driven by tightening regulations on shipping industry emissions, which Kawasaki believes will increase the global demand for LNG bunkers.
In July, Maritime and Port Authority of Singapore (MPA) CEO Andrew Tan said that the reduced emissions when burning LNG bunkers, as well as its good track record for being transported as cargo and used as fuel in LNG carriers, "gives confidence to the industry that LNG can be widely adopted as a marine fuel going forward."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 627.50 | 3.00 | 643.50 | 2.00 |
| Rotterdam | 530.50 | 3.00 | 636.50 | 3.50 |
| Houston | 526.00 | 0.00 | 665.00 | 0.50 |
| Fujairah | 608.50 | 8.00 | 778.50 | 2.00 |
| Global 20 Ports Average | 612.50 | 3.50 | 746.50 | 1.00 |
| Global 4 Ports Average | 573.00 | 5.00 | 681.00 | 3.00 |
| Global Average Bunker Price | 657.00 | 4.00 | 827.50 | 2.50 |
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