World News
Singapore-USWC Green Corridor to Generate 850,000 MT/Year of Methanol Demand by 2030
The organisers of a green and digital shipping corridor between Singapore and the US West Coast have set out their expectations for alternative bunker supply growth within the route.
Singapore's Maritime and Port Authority, the Port of Los Angeles and the Port of Long Beach have carried out a study examining the benefits of the corridor, the MPA said in a statement on its website on Thursday.
The study estimates ships within the corridor will be using 850,000 mt/year of methanol and 160,000 mt/year of ammonia by 2030.
"Shipping is a new pillar in the multi-faceted partnership with the US," Teo Eng Dih, chief executive of the MPA, said in the statement.
"The GDSC with the Ports of Los Angeles and Long Beach highlights the importance of working with industry, researchers, government and society through innovation and capacity building.
"With traffic along the GDSC accounting for 7% of the world's container trade, the initiatives by GDSC partners and stakeholders will help generate growth and new opportunities for maritime professionals."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 644.50 | 1.00 | 782.00 | 10.50 |
| Rotterdam | 590.00 | 10.50 | 750.50 | 9.00 |
| Houston | 608.50 | 11.00 | 777.00 | 10.50 |
| Fujairah | 643.00 | 0.50 | 891.50 | 3.50 |
| Global 20 Ports Average | 658.50 | 3.50 | 848.50 | 2.50 |
| Global 4 Ports Average | 621.50 | 5.50 | 800.50 | 3.00 |
| Global Average Bunker Price | 713.00 | 1.50 | 890.00 | 0.50 |
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