World News
Australia's CBH Group Launches Biofuel Trial With Oldendorff
Australian grain producer CBH Group has launched a trial of biofuel bunkers with shipping firm Oldendorff.
The companies will test a biofuel supplied by BP on a shipment of malting barley from Albany to Vietnam, CBH said in a LinkedIn post on Friday.
The fuel "is expected to produce about 15% less GHG emissions than fossil fuels," the company said.
Several shipping companies have tried out biofuel blends over the past year, with no notable technical problems reported with using them as a drop-in alternative to conventional bunkers.
The challenge with biofuels will come with the cost they can be delivered at, and the extent to which biofuel production from sustainably sourced biomass can be scaled up to meet the needs of the shipping industry.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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