World News
NYK Line Signs Marine Decarbonisation Deal With BP
Shipping firm NYK Line has signed a deal with energy producer BP to work together on the decarbonisation of industrial sectors including shipping.
The two firms have signed a memorandum of understanding seeking to collaborate on identifying opportunities to help the shift from conventional bunkers to alternatives including LNG, biofuels and methanol and to develop future fuels including ammonia and hydrogen, NYK Line said in a statement on its website on Wednesday.
"For other hard-to-abate industrial sectors, the two companies will also consider potential marine transportation and other solutions for carbon dioxide, and explore participation in the supply chains for ammonia and hydrogen to be used in heavy industry and power generation, to help those sectors to decarbonise," the company said.
"Shipping is core to global trading activities.
"For the world to decarbonise, shipping must decarbonise, and as one of the world's largest shipping and logistics companies, NYK Line is seeking to lead decarbonisation efforts in the industry through collaboration with BP."
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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