World News
Ammonia-Fuelled Tanker Moves Step Closer to Reality
Friday July 24, 2020
The vision to create an ammonia-fuelled tanker has moved a step closer to reality this week after Hyundai Mipo Dockyard (HMD) said it had received Approval in Principle (AIP) from Lloyd's Register for its design.
The 50,000 dwt MR tanker is expected to be a commercial reality by 2025.
Ammonia - which is carbon free and consists only of hydrogen and nitrogen - is one of several potential marine fuels of the future that could help the industry slash its emissions footprint.
"Based on this certification, we will proactively respond to the 2050 IMO greenhouse gas reduction regulations and develop our ability to lead in eco-friendly technology," said HMD's Nam Young-Joon.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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