World News
Macquarie Group Targets Methanol Bunkering Market
Global financial company Macquarie Group is seeking to play a role in the rapidly growing methanol bunker market.
The firm is currently recruiting for a physical methanol trader in Singapore within its clean energy fuels team.
The trader will aim to "build relationships with physical methanol suppliers and end-users in Asia, with a focus on China petrochemicals and international bunker markets," the company said in a job advertisement.
In December 2021 chemicals firm Nobian announced it would be joining forces with Macquarie's Green Investment Group to form a green hydrogen firm that would include green methanol production in its scope.
Methanol is rapidly growing in prominence as an alternative marine fuel, with significant interest from the container segment in particular. between them AP Moller-Maersk, CMA CGM and COSCO currently have 666,100 TEU of methanol-fuelled boxships on order, representing just over 2.5% of current global container capacity.
Maersk's first methanol-fuelled container ship is due for delivery in the middle of this year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
Popular Now More
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Apr 19The firm has chartered the 7,994 DWT barge Margherita to add to the operation, operated by Fratelli Cosulich. -
Apr 18Singapore's authorities are in the process of developing a regulatory framework for a methanol bunkering licence, and plan to call for applications for the licence by the end of this year. -
Apr 19The company is looking for candidates with proven experience in bunker trading and demonstrated leadership experience.