World News
MOL Sets Up Mauritius Environmental Recovery Fund After Wakashio Spill
Shipping company MOL has set up an environmental recovery fund for Mauritius after the spill of bunker fuel from its chartered bulker the Wakashio there last year.
The MOL Mauritius International Fund for Natural Environment Recovery and Sustainability has started taking applications for grants as of December 1, the company said in a statement on its website. The firm plans to contribute about 500 million yen ($4.4 million) to the fund, as well as another 300 million yen to the MOL Charitable Trust it set up in Mauritius earlier this year.
"MOL will provide flexible and diverse support activities through the combination of the two funds; the fund in Japan will assist relatively long-term and large-scale projects, while the MOL Charitable Trust in Mauritius will support more community-focused measures," the company said in the statement.
"It is MOL's intent that grant recipients will be selected fairly and impartially through the fund to provide widespread support to Mauritius, and that the MOL Group as a whole continues to engage with the nation and its people."
The Wakashio, chartered by MOL and owned and managed by Nagashiki Shipping, ran aground off Mauritius in July 2020 and spilled about 1,000 mt of bunker fuel as it broke up.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 560.50 | 7.00 | 669.00 | 4.00 |
| Rotterdam | 512.50 | 2.00 | 653.00 | 2.00 |
| Houston | 548.00 | 3.00 | 671.00 | 0.00 |
| Fujairah | 549.00 | 6.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 577.50 | 3.50 | 749.50 | 1.50 |
| Global 4 Ports Average | 542.50 | 3.50 | 685.00 | 0.50 |
| Global Average Bunker Price | 628.50 | 1.50 | 800.50 | 1.00 |
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