Asia/Pacific News
India Explores Path to Alternative Marine Fuel Hub at IMO Dialogue
India is assessing its potential to become a regional bunkering hub for alternative marine fuels following a stakeholder dialogue in Mumbai on February 9.
Around 40 representatives from shipowners, ports, fuel suppliers, financiers and government met at the Indian Register of Shipping for the Indian Maritime Alternative Fuels Policy and Investment Dialogue, GreenVoyage2050 said in a press release on February 11.
The event was convened by the IMO through its GreenVoyage2050 programme with India's Directorate General of Shipping and the Ministry of Ports, Shipping and Waterways.
Participants reviewed preliminary findings from an IMO-commissioned study by DNV examining India's competitiveness against established bunkering hubs, where alternative-fuel demand could emerge, and what conditions are needed to scale commercially viable supply.
Officials stressed that the global shipping industry is entering a decisive transition period and that the study will help refine India's national planning as it works toward building capacity for alternative-fuel bunkering over time.
Discussions centred on strengthening demand signals and reducing delivered fuel costs, while addressing policy uncertainty, commercial structures and first-mover risk.
Insights from the meeting will feed into ongoing work under GreenVoyage2050 and support the development of India's National Green Shipping Policy.
Earlier this month, a project was announced to develop an e-methanol plant at Kandla port in India, aimed at providing marine fuel to the shipping sector.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 482.50 | 9.00 | 671.50 | 11.50 |
| Rotterdam | 455.00 | 0.00 | 675.50 | 13.00 |
| Houston | 460.00 | 10.50 | 661.00 | 7.50 |
| Fujairah | 469.00 | 13.00 | 743.00 | 6.50 |
| APAC Average | 573.50 | 1.50 | 783.50 | 3.50 |
| Global 20 Ports Average | 509.50 | 7.50 | 765.00 | 8.50 |
| Global 4 Ports Average | 466.50 | 8.00 | 687.50 | 10.00 |
| Global Average Bunker Price | 553.50 | 4.50 | 803.50 | 5.00 |
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