World News
NYK Works on Ammonia Bunkering Boom
Japanese shipping firm NYK is working on an ammonia bunkering boom to improve safety while handling the alternative fuel.
The firm has signed a deal with cargo handling equipment company TB Global Technologies to develop the device for transferring ammonia as a bunker fuel between ships, it said in a statement on its website on Thursday.
NYK will provide data related to the development of its ammonia bunkering vessel, as well as from its first LNG bunkering vessel.
The firms aim to tackle the problem of how to avoid any leaks of ammonia during the bunkering process.
"In this joint development, the two companies will employ TBG's technology to prevent the liquid inside from leaking out when the bunkering boom is emergently released from a ship due to a natural disaster, thereby tackling the biggest challenge in ammonia fuel supply, i.e., preventing leakage," NYK said.
Ammonia is widely expected to take up a significant share of future marine energy demand because of its lack of associated carbon emissions. But further research and development work will need to be completed first looking into how its toxicity can be managed when handling it as a bunker fuel.
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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