World News
Joint Development Project Launched for Ammonia-Fuelled Tanker
Shipping company MISC Berhad, shipbuilder Samsung Heavy Industries, classification society Lloyd's Register and technology company MAN Energy Solutions have launched a joint development project for an ammonia-fuelled tanker, the companies said Thursday.
"Low-speed diesel engines are the most efficient propulsion system for trans-oceanic shipping and already run on a sizable number of emission-friendly fuels," Bjarne Foldager Jensen, head of MAN's two-stroke business, said in a statement.
"We look forward to adding ammonia to the list and welcome the opportunity to work with industry partners in this venture."
The impetus to come up with low- or zero-emission fuels has come from the International Maritime Organization, which has set an initial strategy of reducing shipping's total greenhouse gas emissions by at least 50% from 2008's levels by 2050.
Ammonia and hydrogen are currently the most-discussed potential alternative fuels that the shipping industry could switch to as it takes on this target, but commercially viable vessel designs have yet to emerge.
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| VLSFO | MGO | |||
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| $/mt | +/- | $/mt | +/- | |
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| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
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| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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