Profits on the Houston-Chiba route rise by 8% while forecasts for March remain moderate.
The VLGC (Very Large Gas Carrier) market experienced a rise in chartering activity towards the end of the week, with several vessels securing contracts. However, some VLGCs remain uncommitted for March, with no clear cargoes available. Despite this, market sentiment has improved, with spot gains on the benchmark trade, the Houston-Chiba route, increasing by 8% week-on-week, according to Clarksons.
EMF's investments received a significant boost due to the breakthrough in ammonia testing.
In a recent breakthrough for ammonia-powered maritime transport, MAN Energy Solutions successfully completed a full-load test on its ammonia-compatible engine (ME-LIGA). This confirms the engine's ability to operate entirely on ammonia while validating fuel injection and emissions performance—a crucial step towards commercial adoption.
In 2024, EMF invested in three VLACs equipped with MAN Energy Solutions engines to ensure our fleet remains at the forefront of sustainable maritime transport. This successful test strengthens the long-term viability of ammonia as a marine fuel, solidifying its role in the maritime energy transition.
Source: MAN Energy Solutions and Clarksons