World News
Foremost Group Orders Four Methanol-Fuelled Bulkers From China
Shipping firm Foremost Group is adding to the dry bulk segment's early forays into the use of methanol as a bunker fuel.
The company has ordered four 82,200 DWT dual-fuelled bulkers capable of running on methanol from CSSC Chengxi Shipyard in China, local news agency Xinde Marine reported on Thursday.
The ships are due for delivery between 2027 and 2028.
CSSC Chengxi Shipyard also received an order from Hong Kong's Comerge Shipping earlier this month to build two 85,000 DWT dual-fuelled bulkers, its first order of methanol-fuelled ships.
Methanol is rapidly gaining in popularity as an alternative marine fuel, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
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