World News
Fratelli Cosulich Plans Ammonia Bunker Tanker Order
Marine fuels firm Fratelli Cosulich has taken an initial step towards ordering a delivery vessel for ammonia as a bunker fuel.
Fratelli Cosulich Bunker Singapore and Nantong CIMC Sinopacific Offshore & Engineering have signed a memorandum of understanding for the construction of an ammonia bunker tanker, Fratelli Cosulich said in a press release on Wednesday.
The bunkering firm has previously ordered two LNG bunker delivery vessels from the same shipbuilder.
"As shipowners and bunker suppliers, Fratelli Cosulich believes that the shipping industry will act in a proactive manner to reduce shipping's greenhouse gas emissions to support the ambitions laid out by the IMO," the company said in the statement.
"Ammonia has great potential as a zero-carbon marine fuel, and the company is ready to work together with the sector stakeholders to overcome any safety and operational challenges."
The move puts Fratelli Cosulich far ahead of any other large marine fuels firm in its shift towards the use of ammonia as a bunker fuel.
Ammonia is widely expected to take up a significant share of the marine energy mix in the coming decades as the shipping industry works to eliminate its greenhouse gas emissions. But much more research and development work will be needed on how to handle the alternative fuel safely before shipowners start to order ammonia-fuelled tonnage at a large scale.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| 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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