EMEA News
MOL Signs European Bio-LNG Supply Deals with Titan and Axpo
Japanese shipping firm MOL has signed bio-LNG bunker supply deals with Titan and Axpo to ensure the availability of the fuel for its LNG-fuelled car carrier fleet in Europe.
As per the agreements, Titan will continue supplying bio-LNG in Northwest Europe, while Axpo will provide the fuel in the Mediterranean, including at the Spanish ports of Malaga and Barcelona, MOL said in a press release on Thursday.
The move follows MOL's first bio-LNG bunkering operations in Europe, which began last year under a supply deal with Titan.
Bio-LNG is produced from organic waste streams including food waste and livestock manure.
The fuel is a cleaner alternative to conventional LNG and can be used as drop-in fuel in LNG-fuelled ships.
"The bio-LNG fuel to be supplied in this initiative has a lifecycle carbon intensity (carbon dioxide emissions per unit of energy consumption) of -15 g-CO2/MJ or less, from production through consumption," MOL said.
MOL said the agreements provide a stable supply of bio-LNG across Northern Europe and the Mediterranean as it seeks to expand the use of lower-carbon fuels and advance its goal of achieving net-zero greenhouse gas emissions.
Last month, MOL had signed an annual bunkering deal with Seaspan Energy to supply LNG to its car carriers at the Port of Vancouver in Canada.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 865.50 | 8.50 | 1289.50 | 14.50 |
| Rotterdam | 686.50 | 12.00 | 1390.00 | 40.00 |
| Houston | 740.50 | 7.50 | 1388.00 | 1.50 |
| Fujairah | 963.50 | 12.50 | 1666.50 | 19.50 |
| EMEA Average | 851.50 | 9.00 | 1698.00 | 20.00 |
| Global 20 Ports Average | 876.00 | 6.00 | 1520.50 | 13.50 |
| Global 4 Ports Average | 814.00 | 10.00 | 1433.50 | 18.00 |
| Global Average Bunker Price | 935.00 | 3.00 | 1594.00 | 14.00 |
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