World News
Methanol-Fuelled Tanker Design Wins KR Approval
Classification society the Korean Register (KR) has given its preliminary approval to a tanker designed to run on methanol.
The methanol-fuelled MR tanker was designed jointly by KR, K Shipbuilding and S&SYS, the classification society said in an emailed statement on Wednesday. The firm has awarded the design its approval in principle.
"Methanol possesses significant advantages as a marine fuel," the company said in the statement.
"It is a liquid fuel similar to bunker fuel at room temperature, eliminating the need for pressurization.
"Compared to extreme temperature fuels like LNG at -162 degrees Celsius, hydrogen at -253 degrees Celsius, and ammonia at -34 degrees Celsius, methanol is easier to store and transport.
"Furthermore, it is considered a green fuel with strong potential for commercialization in the maritime sector due to its technical feasibility, less toxic nature compared to ammonia, and lower technical requirements compared to LNG fuel."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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