World News
Australia's Fortescue Metals Group Seeks to Develop Ammonia-Fuelled Bulkers
Australian mining company Fortescue Metals Group is seeking to bring in ammonia-fuelled bulkers to ships its iron ore around the world.
As part of its decarbonisation strategy, the company will seek to take on ship designs running on green ammonia, it said in a report on its website.
The firm has already received approval in principle from a classification society for a ship design, and has commenced laboratory testing of ammonia in marine engines.
"In FY21, the shipping of our products from the Pilbara in Western Australia to our customers around the world accounted for approximately 3.48 million tonnes of CO2-e emissions," the company said in the report.
"We support the IMO targets and are working closely with our shipping partners and industry participants to develop and implement strategies that will deliver on these targets."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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