World News
European Green Corridors Network Seeks to Boost Alternative Bunker Supply Chains
A new network of European port authorities has been launched this week with a view to boosting the supply chain for alternative bunker fuels.
The European Green Corridors Network has been launched by the port authorities of Hamburg, Gdynia, Roenne, Rotterdam and Tallinn in conjunction with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping.
The project will aim to demonstrate the early commercialisation of alternative fuel supply chains, showcase and support first-mover solutions and create a blueprint for rolling out green corridors in other areas and regions, the organisation said in a press release.
The organisation plans to proceed in the following three stages, it said:
- Pre-feasibility: Identify the potential routes, vessel types and fuels to establish high impact green corridors in the region.
- Feasibility: Assess the technical, regulatory & commercial feasibility of the shortlisted routes.
- Implementation: Implement the vision and establish green corridors in Northern Europe and the Baltic Sea.
"To achieve maritime sector decarbonization, zero-emission fuels and vessels must be deployed at scale over the next decade." Valdo Kalm, CEO of the Port of Tallinn, said in the statement.
"It is undoubtedly a difficult task, but it can be aided by the formation of green corridors in which major ports provide the necessary zero-carbon fuels at the required scale for bunkering."
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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