World News
Tanker Operator Hafnia Tries Out Coal-Based Bunker Fuel
Thursday October 29, 2020
Product tanker operator Hafnia has joined forces with energy technology firm Arq to trial the latter's fuel on the former's ships.
Arq turns waste coal products into a micro-fine hydrocarbon power that can be "blended into oil products to create stable dispersions", according to the company.
The product, called Arq Fuel, "offers material benefits as a low-sulphur blending component for IMO 2020 compliant marine fuels".
Under the agreement, Hafnia will conduct trials using the fuel on some of its vessels.
Commercial quantities of the fuel will be ready in the United States during the second half of 2021, via Arq's backer, Vitol, and using its tankage in St Rose, New Orleans.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| New Orleans |
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| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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