EMEA News
AD Ports and IRH Explore Alternative Fuel Bunkering at UAE's Khalifa Port
AD Ports Group and commodity trading firm IRH Global Trading have signed a memorandum of understanding to explore the development of conventional and alternative marine fuel bunkering at the UAE's Khalifa Port.
The agreement covers the potential supply of conventional bunker fuels as well as lower-carbon alternatives including LNG, biofuels and methanol, AD Ports said in a press release on Tuesday.
The companies will also assess opportunities to develop fuel storage infrastructure, terminal facilities, and fuel sampling and testing capabilities.
“By working alongside trusted partners such as IRH, we are enhancing our capabilities and supporting the development of future-ready infrastructure and services that reinforce the UAE’s position as a leading global trade and logistics hub, in line with the vision of our wise leadership,” Saif Al Mazrouei, CEO Ports Cluster at AD Ports Group, said.
The companies said the collaboration aims to enhance Khalifa Port's role as a regional maritime hub by combining AD Ports Group's port infrastructure with IRH's international commodities trading capabilities.
“We see Khalifa Port as an ideal base from which to explore these opportunities, and we look forward to working closely with AD Ports Group to bring them to life,” Ali Rashed Alrashdi, Group CEO at International Resources Holding, said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 917.00 | 10.00 | 1295.00 | 34.00 |
| Rotterdam | 742.00 | 5.50 | 1435.50 | 54.00 |
| Houston | 765.00 | 2.00 | 1408.00 | 12.00 |
| Fujairah | 986.00 | 1.50 | 1725.50 | 38.50 |
| EMEA Average | 895.50 | 1.00 | 1721.00 | 29.50 |
| Global 20 Ports Average | 902.00 | 6.00 | 1547.50 | 29.50 |
| Global 4 Ports Average | 852.50 | 4.00 | 1466.00 | 34.50 |
| Global Average Bunker Price | 950.50 | 2.50 | 1606.00 | 21.00 |
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