World News
Japan's MOL Seeks Net Zero-Emission Ships Before 2030
Japanese shipping company MOL is seeking to deploy net zero-emission vessels by the end of this decade.
The company revealed the plan in a new environmental strategy published on Friday. The firm envisages having about 90 gas-powered ships in its fleet by 2030, excluding gas carriers, and about 110 net zero-emissions oceangoing ships by 2035.
The net zero-emission ships the company mentions could be running on synthetic LNG, ammonia, hydrogen, biofuels or other options, it said.
"We aim to deploy net zero-emissions ocean-going vessels in the late 2020s whilst MOL Group plans to deliver the first pure battery coastal ship in 2022," the company said.
"In the meantime, MOL will make sure to achieve our target adopting immediately available fuels such as LNG and biodiesel without waiting for next-generation candidate fuels like ammonia to become available."
The firm expects more than half of its ships to be running on ammonia or hydrogen in 2050, about a quarter running on LNG or synthetic LNG and the rest using conventional oil-based bunkers or biodiesel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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