World News
TFG Marine Mulls Global Biofuel Bunker Supply Deal With MOL Subsidiary
Bunker firm TFG Marine and MOL subsidiary MOL Chemical Tankers are considering entering into a global biofuel bunker supply deal.
The two firms have signed a memorandum of understanding agreeing to a joint study on the full-scale supply of biodiesel to MOL Chemical Tankers-operated vessels around the world. MOL said in a statement on its website on Tuesday. The study will be conducted with a view to signing a global supply deal at a later date if it proves feasible.
The two companies have already conducted a trial of a blend containing 30% biodiesel and the remainder conventional fuel oil on board the chemical tanker Niseko Galaxy. The vessel took on about 200 mt of the fuel at Rotterdam in early March and used it on its voyage to the US Gulf.
"In June 2021, the MOL Group announced a target of achieving net zero greenhouse gas emissions (GHGs) by 2050," MOL said in the statement,
"The Group set the initiative to "adopt clean alternative fuels" to help achieve this target, positioning biodiesel fuel as an effective alternative to fossil fuels.
"MOL and MOL Chemical Tankers are continually promoting the adoption of BDF in a proactive manner, contributing to GHG emissions reduction in the process of ocean transport."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| 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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