World News
Japan's MOL to Take on Ammonia-Powered Ship Engine
Japanese shipping company MOL has signed a deal planning to take on an ammonia-powered ship engine being developed by MAN ES.
The company has signed a memorandum of understanding with MAN and Mitsui E&S Machinery to target the signing of a purchase contract for the engine, MOL said in a statement on its website on Monday.
MOL "continually strives to achieve net zero GHG emissions by 2050 and to deploy net zero emissions ocean-going vessels within the 2020s," the company said in the statement.
"MOL aims to order an ammonia fuelled main engine, a pioneer engine of net zero emission vessels aligned under this agreement, and to contribute to the realization of a decarbonized society."
Ammonia is increasingly discussed as a leading candidate to become one of the dominant alternative bunker fuels in the coming decades as the shipping industry phases out fossil fuels. But further research and development work will be needed before large-scale ammonia-fuelled ship orders emerge.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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