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Titan LNG introduces free LNG comparison tool for benchmarking to other bunker fuels

Fuel comparison sheet provides insight into the costs for LNG as a marine fuel compared to existing bunker fuels to help companies account for future budgeting.

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Niels den Nijs, CEO of Netherlands-based maritime liquified natural gas (LNG) bunkering company Titan LNG on Tuesday (24 November) published an article introducing the company’s newly launched LNG bunker fuel comparison fuel to provide clarity within the maritime industry by providing a tool that enables like-for-like benchmarking to other bunker fuels:

How increasing transparency of LNG pricing can play a pivotal role in reducing emissions in shipping.

With increasing awareness of the efficacy of LNG as a marine fuel and a viable, cost-effective pathway to reducing GHG emissions, why is there still some hesitancy in the shipping industry to uptake on the fuel alternative we asked ourselves at Titan LNG?

Available on our website, the new LNG delivered price page provides an overview of LNG prices delivered onboard in various quantities and ports, aiming to increase transparency, and understanding of the cost of LNG as a marine fuel. Furthermore, it displays up to date indicative pricing on a weekly basis in five key LNG fueling locations: Rotterdam, North Sea, Baltic, Mediterranean and Singapore. Reference prices are available for two different drop sizes – 250 and 1,000 tonnes – for each region. The prices presented across three delivery options where applicable, including FlexFueler barge, and sea-going bunker vessels. For truck-to-ship drop sizes of - 20 and 150 tonnes are available. 

The fuel comparison sheet enables informed decision-making by providing insight into the costs for LNG as a marine fuel – usually priced by € per megawatt hour – compared to other existing fuels in € or US$ per ton or MMBtu delivered now and in the future for accurate budgeting. The pre-formulated table (accessed free of charge with premium access) enables users to input relevant market prices, which are automatically converted into the LNG equivalent, allowing owners and operators to follow market trends. Moreover, premium access also provides forward curves, illustrating the delta of LNG vs MGO in terms of pricing. 

Our Business Development Manager, Régine Portocarero, commented: 

“One of the biggest hurdles we face in the progress towards a low emissions future is the lack of transparency and understanding of LNG, which already contributes to reducing carbon and eliminates local harmful emissions. It is clear that LNG offers a clear pathway to decarbonisation through Bio-LNG and eventually using green hydrogen converted into E-fuels (Synthetic Liquid Gas).”

She continued: “With our efforts, we hope to increase transparency and accuracy around LNG pricing, enabling shipowners and operators to make informed choices. It’s essential that fuels are being compared on an energy equivalent basis – for example if you take 1,000 tonnes of MGO, you only need ~815 tonnes of LNG; it takes less fuel to travel the same distance.”

LNG pricing and availability remain central decision-making factors when considering the adoption of LNG as a marine fuel. Titan LNG continues to build out its owned or chartered physical infrastructure to facilitate supply across the globe. The new shared insights demonstrate that Titan LNG, as an independent supplier, is able to provide practical support and information to the entire shipping community.

For owners and operators seeking more detailed information, we are able to work in collaboration with businesses to understand fuel consumption and determine potential annual savings, for which Titan LNG has developed the Titan LNG Marine Assessment Tool, which can be accessed here.

The LNG Delivered Price Page can be accessed here.


Photo credit and source:
Titan LNG
Published: 25 November, 2020

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Newbuilding

Singapore: EPS orders ammonia, LNG dual-fuel vessels from China

EPS signed one contract for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International.

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Singapore-based Eastern Pacific Shipping (EPS) on Wednesday (28 February) said it signed two new contract orders in a signing ceremony in Shanghai, one for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International. 

The contracts signed cover four 210,000 dwt ammonia dual-fuel bulk carriers and two 111,000 dwt LNG dual-fuel LR2 oil tankers, expanding our fleet of green vessels on water. 

“These are pivotal for EPS, testament to our continued commitment towards the decarbonisation of shipping,” EPS said in a social media post.

Manifold Times recently reported EPS signing a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Related: Singapore: EPS orders its first wind-assisted propulsion system for tanker

 

Photo credit: Eastern Pacific Shipping
Published: 1 March 2024

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LNG Bunkering

Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation

Landmark event involved the CMA CGM Monaco, a 14,024 TEUs containership operated by French shipping giant CMA CGM.

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Port of Tanjung Pelepas Sdn Bhd (PTP), a joint venture between MMC Group and APM Terminals, on Wednesday (28 February) announced a significant milestone with the successful completion of its first Liquefied Natural Gas (LNG) bunkering operation. 

The landmark event involved the CMA CGM Monaco, a 14,024 TEUs (Twenty-foot Equivalent Units) capacity containership operated by French shipping giant, CMA CGM.

Tan Sri Che Khalib Mohamad Noh, Chairman of PTP in a statement remarked this latest milestone demonstrates PTP’s commitment to continuously enhance its competitive advantages in an increasingly competitive global market.

“The successful completion of our first LNG bunkering operation also underscores our unwavering commitment to sustainability and environmental leadership. We are proud to partner with Petronas Trading Corporation Sendirian Berhad (PETCO) and CMA CGM on this initiative and showcase PTP’s capabilities as a leading facilitator of clean and efficient maritime operations.”

“This milestone paves the way for further growth in LNG bunkering at PTP, contributing significantly to the decarbonisation of the maritime industry.”

Commenting on this achievement, Mark Hardiman, Chief Executive Officer of PTP stated this latest milestone further highlights PTP’s position as the largest transshipment hub terminal in Malaysia.

“In preparation for the LNG bunkering operation, PTP worked closely since March 2022 with PETCO and CMA CGM, as well as with various other related government agencies to organise table-top exercises (TTX) and workshops, before carrying out the deployment exercise.”

“The success of the bunkering operation is a result of the seamless collaboration and preparations involving rigorous safety procedures through in-depth operational and risk assessments, modelling, and validation. We thank PETCO, CMA CGM all other involved parties for their joint efforts in operationalising the bunkering capability and we welcome partners to work with us to accelerate maritime decarbonisation,” said Hardiman.

Port of Tanjung Pelepas (PTP) is Malaysia’s largest transshipment hub with the capacity to handle 13 million TEUs annually. The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad with extensive connectivity to the global market. PTP is currently ranked 15th among the world top container ports.

 

Photo credit: Port of Tanjung Pelepas
Published: 1 March 2024

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Alternative Fuels

Wallenius Wilhelmsen to order four additional methanol DF PCTCs

Newbuilds will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

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Wallenius Wilhelmsen PCTC order

Roll-on/roll-off (Ro-Ro) shipping company Wallenius Wilhelmsen on Tuesday (27 February) declared options to build four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels.

The 9,300 CEU methanol dual fuel vessels can utilise alternative fuel sources, such as methanol, upon delivery. They will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

“Together with our customers we are committed to further shaping our industry and accelerating towards net zero. These new vessels are a vital part of that journey,” says Xavier Leroi, EVP & COO Shipping Services.

This latest commitment brings the total number of Shaper Class vessels currently on order with Jinling Shipyard (Jiangsu) to eight. Wallenius Wilhelmsen also retains further options.

The first of the Shaper Class vessels already ordered are expected to be delivered in the second half of 2026. The four additional vessels under the declared options will be delivered between May and November 2027.

 

Photo credit: Wallenius Wilhelmsen
Published: 1 March 2024

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