World News
Singapore, Los Angeles, Long Beach Sign Green Corridor MoU
The southeast Asian bunkering and shipping hub of Singapore as joined the global push to create 'green corridors' between the world's busiest ports.
The port's authority, the MPA, has agreed a memorandum of understanding between Singapore and the ports of Los Angeles and Long Beach. The move has the backing of C40 Cities, an organisation supporting the development of green and digital shippng corridors.
The MoU signals Singapore's intention "to deliver scalable green and digital corridor solutions" to the maritime sector, according to the port's chief executive, Teo Eng Dih.
Under the agreement, the parties will work to facilitate the supply and adoption of low- and zero-emission fuels and explore the necessary infrastructure and regulations for bunkering.
In addition to identifying and collaborating on pilot and demonstration projects, the MoU aims to identify digital shipping solutions and develop standards and best practices for green ports and the bunkering of alternative marine fuels, an MPA statement said.
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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