World News
Japan's Marubeni Corporation Joins Shipping Emissions Reduction Consortium
Japan's Marubeni Corporation has joined a consortium seeking to cut the emissions of the shipping industry using digital services.
The firm has joined the Blue Visby Consortium, which is developing an integrated system seeking to optimise ships' arrival times, it said in a statement on its website on Wednesday.
The firm will test the system on board its fleet of gas and chemical tankers.
"In the shipping industry, vessels typically sail quickly to an area near their destination, then idle there until they can enter port, resulting in unnecessary CO₂ emissions," the company said in the statement.
"According to various stage of proof-of-concept research, including an analysis of 150,000 voyages by 13,000 freighters worldwide in 2019, using the Solution would enable a reduction of cruising speed and standby time in 87% of voyages.
"With this Solution, vessel operators will be given an optimal arrival time, so that they can then successfully adjust the vessel's cruising speed and reduce fuel consumption by using the most efficient route and speed to reach the vessel's destination, with a potential average CO₂ emissions reduction of 16%."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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