World News
IMO Takes Another Step Forward for Credibility of Methanol Bunkers
The Methanol Institute has welcomed the completion of draft interim guidelines covering the safety of ships using methyl/ethyl alcohol as fuel.
“The agreement is another step forward for Methanol as a viable and credible marine fuel,” Methanol Institute said.
“The ultimate goal is to add a new chapter on methyl/ethyl alcohol to the International Code of Safety for Ships using Gases or other Low-flashpoint Fuels (The IGF Code).”
The draft was agreed last week by the International Maritime Organization’s sub-Committee on Carriage of Cargoes and Containers (CCC5) for formal approval by the Maritime Safety Committee in 2020.
“The maritime industry faces significant challenges in terms of meeting 2020 emissions standards and the longer term goal of the IMO’s targets for greenhouse gas reduction,” says Chris Chatterton, Chief Operating Officer of the Methanol Institute.
“Methanol is compliant with 2020 and provides a pathway to achieving carbon emission targets. These guidelines and ultimately its inclusion in the IGF Code are a further milestone to achieving a cleaner, more sustainable maritime industry.”
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 655.50 | 2.00 | 808.50 | 4.50 |
| Rotterdam | 619.00 | 0.00 | 789.00 | 8.00 |
| Houston | 628.50 | 7.50 | 812.50 | 1.50 |
| Fujairah | 653.50 | 4.50 | 900.00 | 2.50 |
| Global 20 Ports Average | 672.00 | 0.50 | 885.00 | 7.00 |
| Global 4 Ports Average | 639.00 | 2.50 | 827.50 | 2.00 |
| Global Average Bunker Price | 727.50 | 1.50 | 933.50 | 5.00 |
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