World News
Sea-LNG Takes Aim at World Bank Over Gas-Powered Shipping Criticism
LNG bunkering advocate group Sea-LNG has responded to the World Bank's recent report on alternative bunker fuels, accusing it of unfairly shunning gas-powered shipping in favour of 'theoretical, unproven solutions'.
The World Bank published a report earlier this week titled 'The Potential of Zero-Carbon Bunker Fuels in Developing Countries'. The report was produced in conjunction with UCL's University Maritime Advisory Services (UMAS), with Tristan Smith leading the team, and Smith reiterated his longstanding position opposing LNG as a bunker fuel as well as backing ammonia.
"By focusing on theoretical, unproven solutions, the World Bank stifles innovation in technologies that can also provide answers in the decades ahead," Sea-LNG said in an emailed statement on Tuesday.
"We strongly encourage all institutions around the globe that have a place in the policy debate to set standards and targets that drive real and immediate reductions in GHG emissions not prescribe specific technology solutions that are untried and unproven in the real world.
"To suggest that investments not be made in the LNG sector is unwise, will prolong the use of higher emissions fuels and slow down shipping's decarbonisation.
"By investing in LNG dual-fuelled vessels, the shipping industry begins the decarbonisation process now."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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