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IMO Working Group Reports Progress in Alternative Bunker Emissions Regulation
The IMO's Intersessional Working Group on the Reduction of GHG Emissions from Ships has reported progress in developing criteria for judging the environmental performance of alternative bunker fuels.
The working group met online last week and made progress in developing draft lifestyle GHG and carbon intensity guidelines for marine fuels and the assessment of impacts of GHG measures, the IMO said in an emailed statement on Monday.
The working group has proposed the establishment of a correspondence group to further develop the draft guidelines.
At stake is the extent to which the full GHG footprint of alternative bunker fuels -- from their production and transportation as well as use -- is taken into account when determining their GHG emissions. If full well-to-wake emissions are not taken into account, fuels like LNG could potentially be seen as having a better environmental reputation than a fuller analysis would reveal.
The working group's report will be submitted to the next meeting of the IMO's Marine Environment Protection Committee in June.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 6.00 | 661.50 | 4.00 |
| Rotterdam | 510.00 | 2.00 | 661.00 | 2.00 |
| Houston | 548.00 | 2.50 | 666.50 | 0.50 |
| Fujairah | 555.50 | 5.00 | 746.00 | 2.50 |
| Global 20 Ports Average | 582.50 | 1.50 | 753.00 | 1.50 |
| Global 4 Ports Average | 544.50 | 3.00 | 683.50 | 1.00 |
| Global Average Bunker Price | 631.00 | 2.50 | 803.50 | 2.00 |
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