Titan Clean Fuels (Titan) on Monday (17 March) said it has completed the first LNG and liquefied biomethane (bio-LNG) bunkering operation of a new multi-delivery contract for Mitsui O.S.K. Lines’ vehicle carrier fleet.

On 16 March, Titan’s Alice Cosulich LNG bunkering vessel delivered 500 metric tonnes (mt) of bio-LNG and 400 mt of conventional LNG to the Celeste Ace vehicle carrier. The simultaneous operation (SIMOPS) bunkering took place in the Port of Zeebrugge’s International Car Operators (ICO) terminal.

Titan’s delivery of ISCC-EU-certified mass-balanced bio-LNG marks the first of a series of bio-LNG deliveries to the Japanese shipping company. The bio-LNG was produced using waste and residue, which reduces GHG emissions by up to 100% compared to marine diesel on a well-to-wake basis. LNG, bio-LNG, and renewable hydrogen-derived e-methane can be blended at any ratio and ‘dropped into’ existing LNG bunkering infrastructure with little to no modification.

Caspar Gooren, Commercial Director of Renewable Fuels at Titan, said: “This bunkering highlights the growing role of bio-LNG in decarbonizing international shipping today. With bio-LNG availability expanding, its deep decarbonization potential, and increasing commercial viability, the LNG pathway offers practical solutions for shipowners and operators. Moreover, with a global maritime leader like MOL putting its commercial weight behind bio-LNG, this is an exciting time for the clean fuels transition.”

Yoshikazu Urushitani, Marine Fuel GX Division General Manager at MOL, said: “We are exploring the use of ammonia and hydrogen fuels as part of our strategy to adopt clean alternative fuels, while moving to expand the use of LNG-fueled vessels and more quickly achieve a low-carbon society. We will also be early adopters of bio-LNG and synthetic LNG. Partnering with Titan, we will start using bio-LNG to lead the shipping industry in the transition to clean alternative fuels. We remain committed to adopting clean fuels to reach net zero GHG emissions by 2050.”

MOL currently operates five LNG-fuelled vehicle carriers and will have six more delivered by the middle of 2025. 

Photo credit: Titan
Published: 18 March, 2025

South Korean shipbuilder Hanwha Ocean on Monday (17 March) has secured an order for six 24,000 TEU LNG dual-fuel ultra-large container ships from Taiwanese shipping major Evergreen Marine.

Several media outlets reported the shipbuilding order is valued at over USD 1.6 billion. 

The ultra-large container ships ordered this time are 400 metres long and 61.5 metres wide and can transport 24,000 containers at once. In particular, these ships will be equipped with Hanwha Ocean’s latest eco-friendly technologies, such as LNG dual-fuel propulsion engines, shaft generator motor systems (SGM), and air lubrication systems (ALS).

“Recently, the shipbuilding industry is rapidly introducing LNG and next-generation eco-friendly fuel propulsion ships against the backdrop of strengthened eco-friendly regulations,” Hanwha Ocean said.

“Evergreen’s choice of LNG dual-fuel propulsion container ships in this contract is interpreted as a strategic choice to meet environmental regulations while maximising fuel efficiency.”

Evergreen is one of the world’s largest container shipping companies, operating a fleet of over 200 vessels. Hanwha Ocean, which has strengthened its sales capabilities by joining Hanwha Group, has secured a new customer by forming its first partnership with Evergreen through this contract. 

Kim Hee-chul, CEO of Hanwha Ocean, said, “I would like to thank the ship owners who placed orders and trusted Hanwha Ocean’s technological capabilities. We will continue to lead the eco-friendly ultra-large container ship market based on our differentiated technological capabilities.”

Photo credit: Hanwha Ocean
Published: 18 March, 2025

Once a week, bunker intelligence platform ENGINE will publish a snapshot of alternative and conventional bunker fuel prices in the world’s two biggest bunkering hubs. The following is the latest snapshot:

• B100 back to a discount to HSFO with EU regs
• LNG rises to greater premiums over VLSFO and HSFO

Rotterdam’s VLSFO-equivalent B100 (100% biofuel) price has shifted from a $19/mt premium over HSFO last week to a $3/mt discount. These prices include estimated EU ETS carbon prices and FuelEU penalties for conventional fuels like HSFO, and an estimated pooling benefit for B100.

A $657/mt theoretical pooling benefit under FuelEU reduces the cost of VLSFO-equivalent B100 to $670/mt in Rotterdam. This price includes a Dutch HBE rebate, which has remained broadly steady at $356/mt, according to a PRIMA Markets assessment.

For vessels powered by dual-fuel Otto medium speed (Otto MS) LNG engines, bunkering VLSFO-equivalent fossil LNG in Rotterdam costs over $150/mt more than VLSFO – when accounting for EU compliance costs on EU-EU routes.

For scrubber-fitted dual-fuel Otto MS vessels, LNG is now $210/mt costlier than HSFO, with estimated compliance costs factored into fuel prices.

Liquid fuels

Rotterdam’s VLSFO price has remained largely steady, declining by just $3/mt over the past week. The port’s VLSFO-equivalent B100 price has seen a slightly larger drop of $9/mt. These prices include estimated EU compliance costs and benefits, with B100’s price also factoring in the Dutch HBE rebates.

Singapore’s VLSFO benchmark has edged up by $3/mt this past week. VLSFO lead times now range between 3-12 days, compared to the recommended 5-12 days in the previous week.

Liquid gases

Rotterdam’s VLSFO-equivalent LNG price has ended its downward streak, climbing $40/mt higher over the past week. This price includes estimated compliance costs for ships with an Otto MS engine on EU-EU voyage.

The price surge is attributed to a 4% increase in the front-month Dutch TTF Natural Gas contract, driven by “cold weather forecasts and expectations of low wind output in Central Europe next week," according to Energi Danmark.

Despite LNG’s price increase, liquefied biomethane (LBM) remains the cheapest compliance option in Rotterdam. Combined benefits from the EU ETS and from FuelEU’s pooling mechanism can reduce LBM costs to $587/mt when bunkered in Otto MS engines and $452/mt for diesel slow-speed (diesel SS) engines, giving it a cost advantage for intra-EU voyages.

Singapore’s VLSFO-equivalent LNG benchmark has dropped by $9/mt over the past week, amid expectations of easing geopolitical tensions.

By Konica Bhatt

Photo credit and source: ENGINE
Published: 18 March, 2025