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Himalaya Shipping Ltd commences LNG bunkering

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LNG Industry,

Himalaya Shipping has announced that two of its ships, Mount Norefjell and Mount Matterhorn, have recently bunkered with LNG in Singapore.

A newcastlemax running on LNG reduces its carbon dioxide emissions by 43% compared to a standard capesize ship, in addition to significantly reducing sulfur oxides and nitrogen oxides.

On 31 July 2023, LNG prices (adjusted for calorific values) were US$472/t1 compared to US$537/t for HFO2 and US$610/t for VLSFO2.

“We are pleased to see the first LNG bunkering of the Himalaya ships. Both the en-vironmental 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 normalising, and we believe, over time, LNG prices will trade at a discount to oil. Of the around 2000 capesize+ dry bulk ships in the world, less than 2% can run on LNG, hence, Himalaya Shipping is well positioned to benefit from the environmental regulations being introduced,” said CEO, Herman Billung.

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