World News
Shipping Firm RFOcean to Buy E-Methanol from ETFuels at Fixed Rate
London-based shipping firm RFOcean has signed a binding long-term offtake agreement with e-methanol producer ETFuels to buy fuel at a fixed price from 2030.
ETFuels has described the deal as fully executed and bankable, it said in a statement on its website on Tuesday.
RFOcean expects that this deal will support the firm's compliance with the FuelEU Maritime regulation, which entered into force in 2025 and sets progressively stricter greenhouse gas intensity limits for ships through to 2050.
"RFOcean is betting that being early pays off, both by avoiding future penalties, and by gaining a competitive edge in a market where e-methanol will likely be scarce," ETFuels said.
RFOcean has ordered eight methanol-ready chemical tankers for European trade.
Methanol-ready means the vessels are designed with provisions to allow conversion to methanol propulsion, but they will still need to be retrofitted before they can operate on methanol fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 514.50 | 0.50 | 710.50 | 6.00 |
| Rotterdam | 480.50 | 4.00 | 715.00 | 5.00 |
| Houston | 490.50 | 2.00 | 709.50 | 5.50 |
| Fujairah | 508.00 | 5.00 | 776.50 | 8.00 |
| Global 20 Ports Average | 538.00 | 2.00 | 791.50 | 8.00 |
| Global 4 Ports Average | 498.50 | 2.00 | 728.00 | 4.00 |
| Global Average Bunker Price | 572.50 | 0.50 | 826.50 | 4.00 |
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