Asia/Pacific News
Amogy and LOTTE Fine Chemical Explore Ammonia Bunkering in South Korea
Amogy and LOTTE Fine Chemical have signed a memorandum of understanding to explore ammonia bunkering for vessels in South Korea.
The companies will look at supplying ammonia to vessels fitted with Amogy’s ammonia-to-power technology, using LOTTE Fine Chemical’s ammonia terminal at Ulsan Port and its existing ship-bunkering capabilities, the companies said in an announcement on Thursday.
The partnership will combine LOTTE Fine Chemical’s ammonia supply, storage and distribution network with Amogy’s technology, which converts ammonia into hydrogen for use in fuel cells or hydrogen engines.
The companies will also assess opportunities in hydrogen refuelling and distributed ammonia-to-power generation.
LOTTE Fine Chemical has previously supplied green ammonia for ship bunkering in South Korea, which it described as the world’s first domestic ship-bunkering supply using green ammonia.
The MOU does not include a specific bunkering project or timeline. The companies said further details will be finalised as they evaluate potential opportunities.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 854.00 | 11.50 | 1278.50 | 11.00 |
| Rotterdam | 681.00 | 5.50 | 1400.00 | 10.00 |
| Houston | 725.50 | 15.00 | 1364.50 | 23.50 |
| Fujairah | 944.50 | 19.00 | 1675.50 | 9.00 |
| APAC Average | 972.00 | 27.00 | 1492.00 | 0.50 |
| Global 20 Ports Average | 860.50 | 15.50 | 1522.00 | 1.50 |
| Global 4 Ports Average | 801.00 | 13.00 | 1429.50 | 4.00 |
| Global Average Bunker Price | 922.00 | 13.00 | 1596.50 | 2.50 |
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