Asia/Pacific News
Golden Island and Qingdao Port Join Hands on Alternative Marine Fuels
Singapore-based marine fuel supplier Golden Island Pte Ltd and Qingdao Port International Co Ltd have signed a strategic framework agreement to develop alternative marine fuel supply chains.
The partnership will cover the production, transport, storage, sale and bunkering of green methanol, green ammonia and bio-LNG, Golden Island said in an announcement today.
Golden Island holds a methanol bunkering licence from the Maritime and Port Authority of Singapore, as well as ISCC EU certification.
Qingdao Port International, which operates five major port areas in China, will support the partnership through its logistics network, storage facilities and customs clearance capabilities.
The companies will also explore the use of agricultural waste feedstocks for green methanol production and work to reduce logistics costs across the supply chain.
The partners plan to target container ships, bulk carriers, tankers and cruise ships as they seek to increase the availability and use of alternative marine fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 889.50 | 18.50 | 1281.00 | 10.50 |
| Rotterdam | 715.00 | 13.00 | 1374.00 | 42.50 |
| Houston | 763.00 | 3.00 | 1419.50 | 4.50 |
| Fujairah | 967.50 | 20.50 | 1694.50 | 21.50 |
| APAC Average | 1025.50 | 26.50 | 1476.50 | 7.50 |
| Global 20 Ports Average | 895.50 | 1.50 | 1548.50 | 6.50 |
| Global 4 Ports Average | 833.50 | 12.50 | 1442.50 | 17.50 |
| Global Average Bunker Price | 959.50 | 13.50 | 1592.50 | 0.00 |
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