Asia/Pacific News
Idemitsu and Consort Bunkers Explore Methanol Supply in Singapore and East Asia
Japanese energy firm Idemitsu Kosan Co has started joint discussions with Singapore-based bunker supplier Consort Bunkers Pte Ltd to explore building a supply chain for methanol as a marine fuel.
Under the initiative, Consort Bunkers would supply methanol procured by Idemitsu to shipping companies calling at Singapore and major bunkering hubs across East Asia, Idemitsu said in a press release on Tuesday.
Methanol is seen as one of the more practical alternative fuels because it can be handled using relatively familiar infrastructure compared with some other emerging marine fuels.
However, methanol demand continues to be sluggish in Singapore, with just 300 mt sold in January.
The companies said the study will consider the future introduction of green methanol, including e-methanol and bio-methanol, as demand for lower-carbon fuels grows and more methanol-capable ships enter the global fleet.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 1049.00 | 1.50 | 1679.50 | 83.50 |
| Rotterdam | 748.00 | 22.00 | 1127.50 | 59.50 |
| Houston | 685.00 | 33.50 | 1077.00 | 38.00 |
| Fujairah | 1018.00 | 100.00 | 1433.50 | 83.00 |
| APAC Average | 1041.50 | 132.00 | 1416.50 | 103.00 |
| Global 20 Ports Average | 960.00 | 53.00 | 1379.00 | 94.00 |
| Global 4 Ports Average | 875.00 | 22.00 | 1329.50 | 47.00 |
| Global Average Bunker Price | 920.50 | 59.00 | 1315.00 | 60.00 |
Popular Now More
-
Mar 11The boxship came under attack about 25 nautical miles northwest of Ras Al Khaimah early this morning. -
Mar 12The new hire was previously head of operations and shipping for Axiom Global Oil & Gas Trading in Dubai. -
Mar 09Sources tell Ship & Bunker that barge loadings have been suspended following the Sunday incident.