World News
GTT Signs Deal to Market LNG Bunker Fuel Technology
French liquified natural gas (LNG) container company GTT and South Korean thermal insulation firm Dongsung Finetec are to work together to commericialise GTT's LNG Brick storage technology.
The technology can store LNG up to 3,000 cubic meters and can be used by ships fuelled by LNG.
"GTT and Dongsung Finetec wish to promote LNG Brick® for LNG as fuel application," the company said in a statement.
Dongsung Finetec will build the technology which will be installed on a "large range of commercial vessels such as container vessels, bulk carriers and pure car and truck carriers", the statement added.
LNG as marine fuel is seen as a viable alternative to bunker fuel but has yet to develop the infrastructure required for its wholesale adoption by the shipping industry.
Vessels, such as boxships, are seen as good candidates for the fuel since these ships follow regular routes making it easier to determine supply.
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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