World News
Suezmax Tanker Wins First 'Ammonia-Ready' Stamp of Approval From ABS
A Suezmax tanker currently under construction has won the world's first 'ammonia-ready' designation from a classification society.
ABS has given the label to a Suezmax under construction at a New Times Shipbuilding yard for Avin International. The ship will be conventionally fuelled upon delivery.
Compliance with the 'ABS Ammonia Ready Level 1 requirements' means the ships "is designed to be converted to run on ammonia in the future," ABS said in a statement on its website Tuesday.
Technical documentation on the ABS website gives further detail on what the level 1 ammonia standard entails.
"Basic suitability would mean that the geometry and structural arrangements of the vessel can physically encompass the necessary equipment and the safety elements associated with tank location and that the hazardous areas can be accommodated," according to the ABS guide to alternative fuel readiness levels.
The ammonia-ready label may be useful for shipowners seeking to finance new additions to their fleets. While lenders are likely to be more wary now of lending for new ships that will continue to run on fossil fuels, they may be more willing to finance vessels that have the potential to run on zero-carbon fuels once they become available.
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 |
Popular Now More
-
Nov 11Ship & Bunker explores whether legal and compliance concerns are starting to outweigh the apps' unquestioned convince. -
Nov 11OFAC says efforts to evade sanctions are becoming increasingly sophisticated. -
Nov 14The new hire had previously worked for Lanka Marine Services since February 2017.