World News
Methanol 'Superstorage' Concept Gets Joint Approach
Two methanol-focused firms have come together to increase storage for the alternative marine fuel.
Marine engineering firm SRC and Green Marine have signed a collaborative agreement to "develop and deliver methanol superstorage to market", SRC said in a statement on the company's website.
Shipboard tank volumes could increase by 85% by using technology that differs to the cofferdams that separate tank walls. Greater volumeric capacity mitigates methanol's lower enery density, the statement added.
"Market receptiveness to methanol superstorage has been exceptional and we look forward to working with SRC to realise its extraordinary potential to help drive forward methanol as a mainstream marine fuel," Green Marine's chief operating officer, Chris Chatterton, said.
Methanol is one of a number of alternative marine fuels that could play a significant role in reducing shipping's greenhouse gas emissions output..
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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