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Mitsubishi Shipbuilding to supply LNG fuel gas supply systems units to Imabari Shipbuilding

Mitsubishi Shipbuilding received an order from Imabari Shipbuilding for two additional units of its FGSS, a LNG fuel gas supply system for high-pressure dual-fuel marine engines.

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Mitsubishi Shipbuilding to supply LNG fuel gas supply systems units to Imabari Shipbuilding

Mitsubishi Shipbuilding Co., Ltd., a Mitsubishi Heavy Industries (MHI) Group company based in Yokohama, on Wednesday (5 June) said it has received an order from Imabari Shipbuilding for two additional units of its Fuel Gas Supply System (FGSS), a liquefied natural gas (LNG) fuel gas supply system for high-pressure dual-fuel marine engines. 

The FGSS units for two LNG-fuelled bulk carriers to be built by Imabari Shipbuilding will be continuously delivered with LNG fuel tanks from summer 2025.

LNG fuel tank

LNG fuel tank

Mitsubishi Shipbuilding previously received orders for a total of 18 high-pressure FGSS units, including units for SWEET PEA LEADER and DAISY LEADER, both of which are LNG-fuelled car carriers built by Imabari Shipbuilding Group and have already entered into service respectively in October 2023 and in March 2024. 

The FGSS ordered by Imabari Shipbuilding features an optimised cargo space layout utilising a modular design for space-saving and maintenance access, shortened construction schedule at shipyards, and a proprietary control system that can be customised according to customer needs, contributing to both operability and safety. 

With this additional order, Mitsubishi Shipbuilding will supply a total 20 units (15 car carriers and 5 bulk carriers) to Imabari Shipbuilding Group.

“Mitsubishi Shipbuilding, as part of MHI Group's strategic initiatives for energy transition, will provide FGSS units to a broad range of customers involved in the construction of LNG-fuelled vessels, enhancing the added value and competitiveness of ships,” it said on its website. 

 

Photo credit: Mitsubishi Shipbuilding
Published: 7 June 2024

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Bunker Fuel

ENGINE on Fuel Switch Snapshot: HSFO remains cheapest across hubs

Brent’s steep fall brings VLSFO down; Singapore premiums over Rotterdam narrow; EU to impose tariffs on Chinese biodiesel imports.

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ENGINE on Fuel Switch Snapshot: HSFO remains cheapest across hubs

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:

22 July 2024

  • Brent's steep fall brings VLSFO down
  • Singapore premiums over Rotterdam narrow
  • EU to impose tariffs on Chinese biodiesel imports

A sharp drop of $2.40/bbl ($18/mt) in front-month Brent futures has pushed down conventional fuel prices for yet another week. 

Bio-blend prices have also declined amid decreases in both bio- and conventional fuel components. 

Rotterdam’s VLSFO-equivalent LNG benchmark has bucked the downward trend and inched up by $3/mt in the past week.

LNG bunker fuel is priced $16/mt higher than VLSFO in Singapore, making VLSFO the cheaper option for dual-fuel vessels bunkering there. Conversely, LNG is the more cost-effective choice for dual-fuel ships bunkering in Rotterdam.

The ARA’s B24-VLSFO UCOME price premium over Singapore’s has widened from $19/mt to $32/mt as Singapore’s price has dropped.

VLSFO

VLSFO demand has improved slightly in the ARA in the past week, following slow activity the week before, a trader said. This seems to have prevented Rotterdam’s VLSFO benchmark from following Brent's significant decline.

Singapore’s VLSFO benchmark has tracked more of the crude benchmark's price drop, slipping by $14/mt in the past week. Most suppliers recommend lead times of up to 14 days for VLSFO in the port, but some can manage deliveries within five days.

When factoring in estimated EUA costs, Rotterdam’s VLSFO price has declined by $7-9/mt, while Singapore’s price has fallen by $16/mt.

Biofuels

Singapore’s B24-VLSFO UCOME price has declined by $7/mt in the past week, while its B24-LSMGO UCOME price has fallen by $9/mt. The two bio-bunker benchmarks have declined amid declining values for pure VLSFO ($4/mt) and LSMGO ($9/mt).

On Friday, the European Commission announced that it will impose provisional duties of up to 36.4% on biodiesel imports from China. PRIMA said “the EU anti-dumping results and its associated duties (ADDs) have effectively killed off Chinese biodiesel trading prospects into Europe”.

A lack of EU demand for Chinese biodiesel could result in more Chinese UCOME being exported to meet demand in countries like Singapore, sources say.

Rotterdam’s B30-VLSFO HBE price has declined by $8/mt in the past week, while its B30-LSMGO HBE price has dropped by a greater $14/mt. A $32/mt drop in the ARA POMEME price assessed by PRIMA Markets has pulled both benchmarks lower.

Biofuel price premiums over pure conventional fuels in Rotterdam are $189/mt for B30-VLSFO HBE blends and $136/mt for B30-LSMGO HBE blends. These premiums have narrowed by $9-12/mt in the past week.

The EU’s provisional duties on Chinese biodiesel imports could tighten availability of bio feedstocks for bio-bunker blending across Europe.

LNG

Rotterdam’s LNG bunker price has risen by $22/mt to $652/mt in the past week. The price rise has tracked an increase in the front-month NYMEX Dutch TTF Natural Gas contract.

The upward trend can be attributed to supply concerns at the Freeport LNG export terminal on the US Gulf Coast, a major source of European LNG supply. Some 5.4% of Europe's total LNG imports last year came from Freeport LNG.

Several LNG cargoes from Freeport LNG were held back from being exported by supply disruptions caused by Hurricane Beryl. This has contributed to push Rotterdam's LNG price higher in the past week.

Singapore's LNG bunker price has decreased by $11/mt, driven by a falling NYMEX Japan/Korea Marker (JKM) price.

The JKM price increased some in the middle of last week due to active deals to meet summer demand, before falling amid ample supply and high inventory levels, according to a report by the Japan Organization for Metals and Energy Security (JOGMEC).

By Konica Bhatt

 

Photo credit and source: ENGINE
Published: 23 July 2024

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LNG Bunkering

Shanghai SIPG completes three LNG bunkering operations of newbuildings

Ships involved were 7,500 CEU dual-fuel PCTC “Liao He Kou”, “CMA CGM FORT BOURBON”, a 7,300 TEU dual-fuel container ship, and “CMA CGM BELEM”, a 13,000 TEU dual-fuel container ship.

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Shanghai SIPG completes three LNG bunkering operations of newbuildings

Shanghai SIPG Energy Service Co.,Ltd on Tuesday (16 July) said it successfully completed LNG bunkering operations of three newly-delivered dual-fuel ships at the Luhuashan anchorage.

The operations took place from 10 to 13 July for a total of 70 hours with a total bunkering volume of 9260.9 cubic metres (m3).

Shanghai SIPG completes three LNG bunkering operations of newbuildings

The ships involved were Guangzhou Yuanhai Automobile Shipping Car Carrier 7,500 CEU dual-fuel PCTC Liao He Kou, CMA CGM FORT BOURBON, a 7,300 TEU dual-fuel container ship and CMA CGM BELEM, a 13,000 TEU dual-fuel container ship.

The ships were refuelled by bunkering vessel Hai Gang Wei Lai. To date, Hai Gang Wei Lai has completed bunkering at anchorage for 13 ships with a cumulative bunker volume of 48,220 m3.

640 (6)

640 (7)

Disclaimer: The above article published by Manifold Times was sourced from China’s domestic market through a local correspondent. While considerable efforts have been taken to verify its accuracy through a professional translator and processed from sources believed to be reliable, no warranty is made regarding the accuracy, completeness and reliability of any information.

 

Photo credit: Shanghai SIPG Energy Service Co.,Ltd
Published: 18 July 2024

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LNG Bunkering

Peninsula completes LNG bunkering op of “Thor Highway” in Gibraltar

Peninsula’s LNG bunker vessel “Levante LNG” successfully carried out the operation to deliver fuel to the car carrier, which is a newly built vessel chartered by “K” LINE.

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Peninsula completes LNG bunkering op of “Thor Highway” in Gibraltar

Marine fuel supplier Peninsula on Wednesday (17 July) announced the successful LNG bunkering of the car carrier Thor Highway by Peninsula’s LNG bunker vessel Levante LNG

The supply operation was carried out for its customer “K” LINE in Gibraltar.

The Thor Highway, operated by “K” LINE, is a newly built LNG dual-fuelled car carrier chartered by the company and was delivered this year. 

The vessel is part of “K” LINE’s continued commitment to lower carbon shipping solutions. Peninsula’s Tokyo office was integral in facilitating this deal through the strong relationship built with “K” LINE locally.

The smooth delivery also highlights Gibraltar and its Port Authority’s ambition in making their Port a key hub for LNG bunkering in the Mediterranean.

Peninsula’s Head of Sustainability and Alternative Fuels, Nacho de Miguel, said: “The LNG powered vessel order book is looking very healthy over the coming years. This further validates our decision to develop LNG bunkering solutions in the early stages of the marine fuel transition.

“Due to the ever-growing experience in supplies undertaken by our Alternative Fuels, Physical and Reselling desks, we are constantly increasing our ability to better service our customers. “K” LINE’s trust in Peninsula for supplying the Thor Highway is a testament to our growing presence in the LNG space and our ability to service customers from across the globe.”

Related: Peninsula sees ‘uplift’ interest in LNG bunker fuel among customers

 

Photo credit: Peninsula
Published: 18 July 2024

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