World News
NYK: Risks Associated With Long-Term Biofuel Use Not Fully Evaluated
Despite a sharp increase in interest over biofuel bunkers, Nippon Yusen Kabushiki Kaisha (NYK) today has warned that potential risks from its long-term use have not been fully evaluated.
The comments were made by Takuya Koizumi, general manager of NYK’s Decarbonization Group, who was speaking on May 17 at the “Asia and the Pacific Transport Forum” hosted by the Asian Development Bank in Manila, Philippines.
As biofuels are a ‘drop in’ fuel, meaning that typically there are no modifications required to a ship for them to be used, they have quickly become a popular choice for vessel operators looking to reduce their emissions footprint.
Indeed, Koizumi noted in his presentation that biofuels could play an important role in decarbonizing the maritime industry.
As Ship & Bunker previously reported, NYK has recently partnered with Singapore-based Global Centre for Maritime Decarbonisation (GCMD) for a 6-month biofuel trial that seeks to better understand the impact of a B24-VLSFO blend on engine performance and the operation of onboard systems.
“Unlike conventional marine fuels, FAME can be more susceptible to chemical degradation and microbial growth, the by-products of which can corrode shipboard engine systems and/ or clog fuel delivery systems," the GCMD said at the time.
"To fully understand the opportunity FAME presents to the shipping sector, a thorough investigation of the impact on its long-term use and an evaluation of the total cost of adoption is critical.”
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 597.50 | 0.50 | 729.00 | 4.00 |
| Rotterdam | 555.00 | 4.00 | 754.00 | 11.00 |
| Houston | 578.50 | 3.50 | 749.00 | 14.50 |
| Fujairah | 600.00 | 0.50 | 853.00 | 6.00 |
| Global 20 Ports Average | 616.50 | 0.00 | 803.00 | 2.00 |
| Global 4 Ports Average | 583.00 | 2.00 | 771.50 | 4.00 |
| Global Average Bunker Price | 661.00 | 0.50 | 863.00 | 4.50 |
Popular Now More
-
Jun 13The current orderbook represents 33.8 million mt of bunker demand. 15.6 million mt (46%) of that demand is alternative bunker fuels. -
Jun 14The new hire was previously a fuel oil trader for ExxonMobil. -
Jun 14The industry may have reached a tipping-point on MFMs where more and more suppliers and regulators drive uptake of the systems, 2050 Marine Energy's Adrian Tolson tells Ship & Bunker.