World News
Singapore's MPA, Port of Rotterdam Sign MoU on LNG Bunking, Information Exchange, and Strengthening Maritime Links
The Maritime and Port Authority of Singapore (MPA) Monday said it had a Memorandum of Understanding (MoU) with the Port of Rotterdam Authority aimed at optimizing efficiency in the maritime and port sectors.
The MOU will facilitate an information exchange on standards, procedures, and regulatory frameworks of bunkering and other marine services, including the use of information technology, to facilitate services to vessels.
The memorandum will also see the two parties collaborate on research and development relating to service efficiency, optimization, and new developments in the maritime and port sectors such as Liquified Natural Gas (LNG) bunkering, green shipping, and port optimization.
MPA chief executive Andrew Tan and Port of Rotterdam Authority president Allard Castelein signed the MOU on April 20 at the Port Authorities Roundtable, organized in conjunction with the 10th Singapore Maritime Week.
Tan remarked, "This MOU will also help strengthen the maritime linkages between ports in Europe and Asia and forge closer cooperation at a time when ports have to work more closely with one another to ensure the safety, security and efficiency of global shipping."
Castelein added, "I feel it as an obligation towards our customers and society as a whole to improve on such topics as safety, efficiency and sustainability."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 548.00 | 0.50 | 677.50 | 2.00 |
| Rotterdam | 513.00 | 0.50 | 649.00 | 3.00 |
| Houston | 544.50 | 2.50 | 675.00 | 4.00 |
| Fujairah | 541.50 | 2.50 | 744.00 | 3.50 |
| Global 20 Ports Average | 572.00 | 2.50 | 758.00 | 2.50 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 3.00 |
| Global Average Bunker Price | 624.00 | 2.50 | 801.00 | 3.50 |
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