World News
NYK Strikes Carbon Offset Deal for Bunker Fuel
A Japanese energy company and shipping line have agreed a bunker fuel purchase agreement with carbon dioxide removal credits (CDR).
The credits are created through direct air capture with carbon storage ( DACCS), according to a statement from the shipping line, NYK.
"NYK is promoting CO2 emissions reduction towards achieving net zero emissions by 2050," the statement said.
"This is being done by maximizing energy efficiency and transitioning from traditional fossil fuels to next-generation fuels such as LNG, ammonia, and methanol.
"Additionally, for residual emissions that cannot be eliminated through efforts to reduce emissions, NYK aims to achieve net zero CO2 emissions through a 'reduction' and 'removal' approach by offsetting emissions using CDR credits."
ENEOS launched its carbon offset fuel in January. Under the agreement with NYK, it will procure CDR credits from 1PointFive's Stratos Direct Air Capture plant in Texas, USA. The plant becomes operational next year, according to the statement.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 550.00 | 2.00 | 679.00 | 3.00 |
| Rotterdam | 513.50 | 4.00 | 651.00 | 2.50 |
| Houston | 550.50 | 3.00 | 678.50 | 3.00 |
| Fujairah | 548.50 | 2.00 | 748.50 | 2.00 |
| Global 20 Ports Average | 575.50 | 1.50 | 760.00 | 0.50 |
| Global 4 Ports Average | 540.50 | 0.00 | 689.50 | 1.50 |
| Global Average Bunker Price | 626.50 | 0.50 | 805.00 | 0.00 |
Popular Now More
-
Dec 16The new hire previously worked for ExxonMobil from December 2018 to October of this year. -
Dec 17Ossi Mettälä, product manager at NAPA Shipping Solutions, discusses the upcoming FuelEU Maritime regulation and how the shipping industry can respond. -
Dec 11Bunker prices will be lower in 2025, but overall costs will rise for those operating within European waters, according to the latest analysis by Ship & Bunker.