World News
COSCO Shipping Signs Green Methanol Deal
COSCO Shipping has signed a deal setting out plans for the Chinese firm to access green methanol.
The company has signed a memorandum of understanding with CP Group and Freepoint Commodities aiming to advance green methanol production and use, it said in a statement on its website.
The three companies plan to harness biomass resources in Southeast Asia to construct a green methanol plant adhering to EU standards.
"The MoU signing stands as a testament to globalization in the pursuit of greener, low-carbon solutions," the company said in the statement.
"It underscores the commitment of the three parties to deepen their strategic collaborations, contributing significantly to the decarbonization of the international shipping sector.
"Together, they aspire to set new industry benchmarks, driving forward the green and low-carbon evolution, and collaboratively fostering a future marked by high-quality, sustainable development."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.00 | 9.50 | 674.00 | 4.50 |
| Rotterdam | 507.00 | 5.00 | 663.50 | 12.50 |
| Houston | 549.50 | 2.50 | 677.00 | 5.00 |
| Fujairah | 548.50 | 7.00 | 748.50 | 4.50 |
| Global 20 Ports Average | 580.00 | 3.50 | 761.00 | 1.50 |
| Global 4 Ports Average | 540.00 | 6.50 | 691.00 | 6.50 |
| Global Average Bunker Price | 625.50 | 7.00 | 809.50 | 1.50 |
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