Himalaya Shipping bunkers two LNG-fuelled vessels at Singapore
SUMMARY
By opting for LNG as fuel, the Newcastlemax ships operated by Himalaya Shipping can reduce their CO2 emissions by 43% compared to conventional capesize ships. [Image: Himalaya Shipping]
By Shardul SharmaPOSTED IN:
Himalaya Shipping on August 2 announced that its two ships, Mount Norefjell and Mount Matterhorn, have successfully bunkered with LNG in Singapore recently, adding that the move is a significant step for the company in terms of both environmental and economic benefits.
By opting for LNG as fuel, the Newcastlemax ships operated by Himalaya Shipping can reduce their CO2 emissions by 43% compared to conventional capesize ships. Additionally, the use of LNG significantly reduces emissions of sulfur oxides (SOx) and nitrogen oxides (NOx), the company said.
Furthermore, on July 31 the price of LNG (adjusted for calorific values) was $472/tonne compared to $537/tonne for heavy fuel oil and $610/tonne for very low sulphur fuel oil. This highlights the economic advantage of using LNG, as it provides cost savings while also being more environmentally friendly, Himalaya said.
“We are pleased to see the first LNG bunkering of the Himalaya ships. Both the environmental and economic benefit of running on LNG makes us confident in our choice to invest in dual fuel engines. The high LNG prices seen in the wake of the Russia-Ukraine conflict seems to be normalizing, and we believe, over time, LNG prices will trade at a discount to oil,” CEO Herman Billung said.
Himalaya Shipping has five vessels in operation and seven Newcastlemax dry bulk vessels under construction at New Times Shipyard in China. The remaining newbuildings are expected to be delivered by July 2024.
