World News
MOL Ammonia-Fuelled Bulker Design Wins ClassNK Approval
Japanese shipping company MOL's design for an ammonia-fuelled bulker has been signed off by classification society ClassNK.
The 210,000 DWT Capesize bulker's design has received ClassNK's approval in principle, MOL said in a statement on its website on Friday.
MOL and Mitsui & Co jointly determined the size and specifications of the vessel, and commissioned Mitsubishi Shipbuilding Co to come up with the design.
The design includes two ammonia fuel tanks on feck, to avoid reducing cargo space.
"ClassNK is scheduled to conduct a risk assessment to confirm that no unacceptable risks exist at the basic design stage and to identify items to be considered in the detailed design, which will incorporate safety measures fully taking into account the toxicity of ammonia, and other factors," MOL said in the statement.
Ammonia is widely expected to take up a significant share of the marine energy mix in future decades because of its lack of associated GHG emissions. But parts of the shipping industry remain wary of how it can be safely handled as a marine fuel, and further research and development work will be needed to provide reassurance on this point.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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