World News
Wind Power Will Play Role in Michelin's 2040 Zero-Carbon Shipping Strategy
Wind power is set to play a role in tyre manufacturer Michelin's aim to decarbonise its use of shipping services from 2040.
The company has joined industry body the International Windship Association, the organisation said in a statement on its website on Tuesday. The firm is one of the backers of the WISAMO project developing an inflatable wind sail for shipping.
Michelin was among the nine companies that pledged last week only to use freight services using zero-carbon fuels from 2040.
"Michelin's vision of the future relies on a belief: tomorrow, everything will be sustainable at Michelin," the company said in the statement.
"All decisions should be made with the best balance between human, economical and environmental stakes that should be activated thanks to transformations.
"Our target is to remain relevant for our customers while enlarging our actions to innovations, relying on existing ecosystems. Michelin Group intends to act for a positive impact on humanity and planet."
The WISAMO project is aiming to have one of its inflatable wing sails ready for installation on a merchant ship by 2022 after a trial phase. The project expects to see fuel efficiency gains of up to 20% from using the system, depending on the type of vessel, its route and weather conditions.
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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