World News
MOL Mulls E-Methanol Bunker Deal
Japanese shipping company MOL is making preparations to secure supply of e-methanol for its ships.
The company has signed a memorandum of understanding with global hydrogen and chemicals firm Hy2gen seeking to set up a joint study of supply solutions for e-methanol as a bunker fuel, it said in a statement on its website on Wednesday.
The fuel will be produced as part of Hy2gen's Nautilus project at a plant in Friesoythe, taking green hydrogen and CO2 from a neighbouring biogas plant. Production is scheduled to begin in early 2028.
"We are proud to become a close partner and supplier to such a global player in the shipping industry," Cyril Dufau-Sansot, CEO of Hy2gen, said in the statement.
"We are looking forward to supporting MOL with our products.
"The renewable methanol from Friesoythe will be important for the decarbonisation of the shipping industry worldwide."
Methanol is rapidly gaining in popularity as an alternative marine fuel, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.
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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