World News
Industry Bodies Unite on EU-ETS Well-to-Wake Approach Message
A group of shipping and renewables industry bodies have jointly written an open letter to European politicians calling for a well-to-wake approach to determining GHG emissions as shipping is brought into the European Union's emissions trading system.
Danish Shipping, the Methanol Institute, the Renewable Hydrogen Coalition, the Royal Association of Netherlands Shipowners, the Swedish Shipowners' Association and the World Shipping Council jointly signed the letter to the European Parliament, the European Commission and the European Council.
The industry bodies argue it is 'crucial' for the EU-ETS regulation to take in a full well-to-wake picture of the emissions footprint of alternative fuels.
"The fuels of the future can be produced in more than one way," the industry bodies said in the open letter.
"One example is methanol, which can be produced sustainably or from fossil energy.
"While both production pathways lead to the same product, the impact on the climate differs wildly.
"When creating regulations, politicians should consider the full picture to accurately capture the impact of the new fuels on the climate.
"Assessing fuels on a life-cycle basis includes the impact on the climate from producing, transporting and combusting the fuels."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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