World News
Trafigura Joins MAN Ammonia Engine Project
Global commodity trader Trafigura is set to assist engineering firm MAN Energy Solutions with the development of an ammonia-fuelled engine for ships.
Trafigura will co-sponsor MAN's efforts to develop a new fuel-flexible two-stroke engine capable of running on ammonia by 2024, it said in an emailed statement on Monday.
The project will go on to make retrofits for running on ammonia available by 2025.
"The final goal for two-stroke engines is to run them entirely on carbon-neutral and carbon-free fuels and we welcome Trafigura's support for this key decarbonisation technology," Uwe Lauber, CEO of MAN, said in the statement.
"The interest from shipping companies – and indeed from all links in the entire marine supply chain – in new fuel-technologies currently has great momentum, however the move to green engines also depends on economic realities.
"No shipping company can risk having its fleet stranded during this transition, which is why we offer flexible solutions that will allow shipping to adapt to the availability of carbon neutral fuels in the market."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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