World News
Höegh Autoliners Secures $14 Million Funding Towards Ammonia-Fuelled PCTCs
Shipping company Höegh Autoliners has secured $14 million of funding from Enova towards its development of ammonia-fuelled pure car and truck carriers.
The firm currently has 12 Aurora-class LNG-fuelled PCTCs on order, with an ammonia-ready notation, and plans to convert them to use ammonia if it can be made economically feasible, it said in an emailed statement on Tuesday.
"To use ammonia as fuel, the installation of an ammonia engine and an additional tank to maintain sufficient range are required," Höegh Autoliners said in the statement.
"Therefore, Höegh Autoliners has applied for Enova funding for two of their 12 confirmed Aurora vessels to reduce the additional cost of this solution compared to a vessel that would only be "ammonia ready".
"The company aims to use mostly carbon-neutral ammonia as fuel from the moment the vessels enter into service.
"It is expected that it could take some time before availability and price reach satisfactory levels, with a gradual ramp-up expected from 2027."
Ammonia is widely expected to take up a significant share of future marine energy demand because of its lack of associated carbon emissions. But further research and development work will need to be completed first looking into how its toxicity can be managed when handling it as a bunker fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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