World News
MAN Notes Increasing Interest From Dry Bulk in Methanol Bunkers
Engine manufacturer MAN Energy Solutions is seeing increasing interest from the dry bulk segment in methanol as an alternative marine fuel.
The firm announced its latest methanol engine order this week, for a 65,700 DWT bulker being built by Tsuneishi Shiipbuilding.
The order is the latest in a trend of dry bulk shipping firms taking on methanol propulsion, MAN said in a statement on its website.
"In a market that has seen a rapidly increasing demand for decarbonised transport from its major players, the interest in methanol as a fuel has surged and – at this moment in time – represents more than 30% of all our current, open pipeline projects across a broad range of vessel segments," Bjarne Foldager, senior vice president at MAN, said in the statement.
"As such, seeing bulk carriers now also entering this fuel segment is completely in line with our expectations and these newbuildings will benefit greatly from the option to operate either on methanol or conventional fuel with equally high fuel efficiency."
Methanol has been rapidly been gaining in prominence as an alternative marine fuel since container line AP Moller-Maersk's decision to use it for its first carbon-neutral vessels. Orders have mostly been coming from the container segment so far, with Maersk, CMA CGM, COSCO and HMM all taking on methanol-fuelled boxships over the past two years, but other shipping segments are now also showing interest.
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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