World News
US, Denmark and Norway Join Forces on Zero-Emissions Shipping Project
The governments of the US, Denmark and Norway are to join the Global Maritime Forum and the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping on a project targeting the decarbonisation of shipping over the next decade.
The Zero-Emission Shipping Mission will also be supported by the governments of India, Morocco, the UK, Singapore, France, Ghana, and South Korea, the organisation said in a press release on Tuesday.
The project will aim for at least 5% of global bunker demand being taken up by ships capable of running on hydrogen-based zero-emission fuels by 2030, and for at least 200 of these ships to be in service and using the new fuels by the same date.
"Through fearless technological innovation, ambitious clean energy deployment, and constructive international collaboration, we can build a net-zero carbon economy that creates millions of jobs and lifts our citizens into greater prosperity," US Energy Secretary Jennifer Granholm said in the statement.
The move highlights the recent abrupt change of policy on the topic in the US, going from antipathy towards IMO decarbonisation efforts during the Trump administration to the new Biden administration seeking a zero emissions target for shipping by 2050.
An early test of the effect of the US switching sides in the debate will come up at the IMO this month, where the Marine Environment Protection Committee is discussing a range of marine decarbonisation proposals.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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