World News
SIBCON22: Berge Bulk Plans Methanol-Fuelled Vessel Orders
Dry bulk shipping company Berge Bulk is likely to order methanol-fuelled vessels in the future as it seeks to decarbonise its fleet.
The firm has set itself a target of becoming carbon-neutral by 2025. That goal will initially involve carbon offsets, but methanol-fuelled ship orders will become a focus over the medium term, CEO James Marshall told Ship & Bunker on the sidelines of Singapore's Sibcon bunker industry event on Wednesday.
"We're focusing on methanol," Marshall said in a Sibcon panel session the same day.
"We think that's a fuel that has staying power.
"It can become bio-methanol, and has the potential to have a sort of circular economy and circular carbon footprint, which is important."
Container line AP Moller Maersk has been the biggest supporter of methanol as a bunker fuel thus far, with 19 methanol-fuelled ships now on order. The biggest challenge for early adopters of this alternative fuel will be to encourage producers to scale up bio- and synthetic methanol sufficiently for it to cover the new marine demand.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 6.00 | 661.50 | 4.00 |
| Rotterdam | 510.00 | 2.00 | 661.00 | 2.00 |
| Houston | 548.00 | 2.50 | 666.50 | 0.50 |
| Fujairah | 555.50 | 5.00 | 746.00 | 2.50 |
| Global 20 Ports Average | 582.50 | 1.50 | 753.00 | 1.50 |
| Global 4 Ports Average | 544.50 | 3.00 | 683.50 | 1.00 |
| Global Average Bunker Price | 631.00 | 2.50 | 803.50 | 2.00 |
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