World News
Japan's K Line Joins Carbon Capture Research Body
Japanese shipping company K LIne has joined a research body developing carbon capture and storage technology.
The firm has joined the Australian government-backed Global CCS Institute, it said in a statement on its website on Wednesday.
Last year the company announced the results of a trial of carbon capture technology on board its bulker the Corona Utility. The firm successfully separated and captured carbon dioxide at more than 99.99% purity from the vessel's exhaust.
"K Line will keep abreast of the international CCS development and will accelerate its consideration of participation in CCS related business by joining GCCSI," the company said in the statement.
"We will continue to contribute to the realization of a carbon neutral society based on the K Line Environmental Vision 2050."
If carbon capture technology proves viable for the shipping industry and is accepted by regulators, it could prompt a significant change in the future energy mix, prolonging the use of conventional bunker fuels. But the technology is likely to face strong opposition from environmental groups wary of providing any support to fossil fuel production and use.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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