World News
MSC Cruises to Take on Synthetic LNG From Gasum
MSC Cruises is planning to buy synthetic LNG for its ships from Nordic energy company Gasum.
The two firms have signed a letter of intent envisaging Gasum producing synthetic LNG for MSC, Gasum said in a statement on its website on Wednesday. The companies have also agreed a fossil LNG supply deal for the cruise ship MSC Euribia.
Synthetic LNG, or e-LNG, is made by combining hydrogen produced using renewable power with captured carbon, producing gas that is chemically the same as fossil LNG but with lower lifecycle emissions.
The companies envisage MSC taking on several thousand mt of synthetic LNG from 2026.
"We are delighted to be partnering with Gasum on our journey to net zero greenhouse gas emissions," Linden Coppell, vice president of sustainability and ESG at MSC Cruises, said in the statement.
"Securing a reliable supply of LNG and e-LNG is of critical importance to our decarbonization efforts, and the LOI and long-term agreement that we have announced today are significant steps on that journey.
"Partnering with Gasum will enable us to access new and cleaner fuels needed to make net zero cruising a reality.
"We need more suppliers like Gasum to step up and support our industry with its environmental targets.
"We are ready and waiting to buy more of these new fuels"
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| 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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