World News
Hellmann to Work With Container Line HMM on Biofuel Bunker Use
Germany's Hellmann Worldwide Logistics is set to take advantage of container line HMM's use of biofuel bunker blends to reduce the GHG emissions from its shipments.
The firm has signed a strategic partnership deal with HMM to take part in its Green Sailing Service, using carbon insetting to attribute some of the GHG savings from biofuel use to its own shipments, it said in a statement on its website this week.
"As a sector with a substantial impact on global CO2 emissions, we carry a significant responsibility to foster greener logistics," Jens Wollesen, COO at Hellmann, said in the statement.
"Through our collaboration with HMM and active involvement in the Green Sailing Service, Hellmann is reaffirming its commitment to sustainable practices in the seafreight industry.
"By providing our clients with insetting solutions, we directly reduce CO2 emissions where they are being produced rather than merely offsetting them.
"I firmly believe that this approach is the right long-term path forward for the global container shipping industry to make a meaningful impact and to enable our customers to decarbonize their supply chains."
Demand for biofuel bunker blends is increasing as shipowners take them on as a drop-in replacement for conventional fuels with a lower carbon footprint, allowing them to reduce GHG emissions without investing in new ships capable of running on other alternative fuels.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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